Condo sales from the skyscraper at 432 Park Avenue have finally been recorded.
If you live in New York and pay attention to real estate, you have undoubtedly heard of 432 Park Avenue. The development stands at 1,396 feet, and is the third tallest building in the United States, surpassed only by One World Trade Center, and the Willis Tower in Chicago. It is the tallest residential structure in the Western Hemisphere, and is situated in Billionaire’s Row, in Manhattan.
Many people are divided on whether or not the building is a good addition to the Manhattan skyline, but that hasn’t stopped development or sales. The first numbers have been released, and only 13 of the building’s 141 apartments have been sold. With just those 13 condos however, they have reached $170 million in sales, which is no small number.
The average price of an apartment in the building is $21 million, in comparison to the average price of a typical Manhattan apartment, which is $2 million. That means that you could actually purchase 10 normal apartments in the city for the price of one unit in 432 Park.
Say what you will about the Manhattan skyline or Billionaires Row, but every year the city gets more and more expensive, so it is probably only a matter of time before we see more examples of this, as the city builds onwards and upwards. The good news is that if you are a multi-millionaire, there are plenty more units available in the building.[ via ]