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Old Posted Feb 7, 2018, 6:52 PM
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432 Park crosses the $2B sales milestone
According to its developers, it's now NYC's highest-grossing building ever

By E.B. Solomont
February 07, 2018

Six years after launching sales, the developers of 432 Park Avenue say they’ve sold $2 billion worth of luxury condominiums — the most of any new NYC residential project to date.

To get to the $2 billion mark, the developers said 48 units sold for more than $20 million each. Sources said fewer than 10 units are still available, including a penthouse asking $82.2 million, according to StreetEasy.

Designed by Rafael Viñoly, the 1,396-foot tower has a total of 106 units that start 356 feet above street level. The building has 30,000 square feet of amenities, including a private restaurant.

When 432 Park launched sales in 2012, it had a total projected sellout of $2.4 billion — among the largest in NYC history. (After price increases, its total sellout is now $3.1 billion, according to the New York Attorney General’s office.)

New projects on the horizon could blow those numbers out of the water, though. Extell’s Central Park Tower, which has yet to officially launch sales, has a total projected sellout of $4 billion. Vornado Realty Trust’s 220 Central Park South’s sellout is pegged at $3.4 billion, including a $250 million penthouse.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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