Set to be one of the very tallest residential buildings in New York at a height of 1,398 feet, 432 Park Avenue will tower above all of its neighbors. The building lies between 57th and 56th Streets and Park and Madison Avenues – a location long synonymous with luxury.
Inspired by the square, Architect Rafael Vinoly’s design was inspired by the square, from the floor plate of the building to the size of each window, which is an enormous 10 feet by 10 feet wide. The windows begin 18 inches from the floor, which adds a very different feel than from a curtain-walled building. The ceiling heights, which will be 12’6” with dropped ceilings, however, from slab to slab is 15 feet, giving interior designers some room to play with.
There is no hotel component at 432 Park Avenue. However, residences start on the 39th floor, allowing for this ultra-luxury building to be stocked with many first-class amenities, including a private restaurant and motor court (like 15 Central Park West), swimming pools, fitness center, housekeeping, room service, parking, and among others. Complementing residences on the upper floors, the lower floors feature the staff quarters and private office condos exclusively for sale to owners.
With such a large building floor plate of 8,500 square feet, prices of full floors will be out of reach for even the most well to do. In dollar terms, entry-level apartments start at close to $18 million and it has been reported that the penthouse is in contract for $95 million.
Completion of 432 Park Avenue is anticipated for 2015. 432 Park Avenue is exclusively marketed by Douglas Elliman and Macklowe.
432 Park Avenue Sales & Rentals comps:
(per Streeteasy as of November 1, 2017)
|Sales Listings||17 active sales ($7,569 per ft² avg, $28,935,000 avg price)|
42 previous sales ($7,568 per ft² avg, $33,102,380 avg price)
|Rentals Listings||5 active rentals ($182 per ft² avg, $58,500 avg price)|
|16 previous rentals ($183 per ft² avg, $48,125 avg price)|
The Penthouse at 432 Park Avenue
The Amenities at 432 Park Avenue
Vanity Fair: Eminent Domains NYC
Images courtesy by Macklowe Properties. Exclusive sales by Douglas Elliman Development Group.