New Development Highlight: 432 Park Avenue

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432 Park Avenue, the long awaited ultra-luxury super-tall tower, across from the Four Seasons Hotel, has quietly begun sales. This 96-story trophy building will be one of New York City’s most iconic buildings. Almost 400 feet taller than its main competitor, One57, we don’t expect anything to top this building for many years to come.

Located on one of the most expensive blocks in New York – between Park Avenue and Madison Avenue and 56th and 57th Streets, 432 Park Avenue is surrounded by the most elegant shops and best restaurants in the world.

While the finished showroom won’t be open for a few more weeks, the sales team is, nonetheless, selling apartments. From what has been reported by the Wall Street Journal, the building has already sold approximately 10% of the units. We hear rumors that sales at 432 Park Avenue have been significantly higher and the project hasn’t even been open to the public yet.

While the average prices have been reported to be $5,800 per square foot, we understand the prices to be closer to $5,300 per square foot if one excludes the pricey penthouse. Although I wouldn’t be surprised if the developer raises prices soon based on their sales success to-date.

432 Park Avenue has a good mix of apartments, from 1 to 5 bedrooms, most with incredible views out of their enormous 10’ x 10’ windows. The building was designed by architect Rafael Vinoly and is being developed by CIM Group and Macklowe Properties. Macklowe is also the exclusive sales agent for the project.

Related News About 432 Park Avenue:

“Manhattan Tower Builds on a Foundation”

“Super-Tall Ultra-Luxury Drake Tower to Rise at 432 Park Avenue”

“What Billionaires Don’t Want You to Know About One57”

Posted by ricardo on 11/1/2012 | |

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