Politics

Penthouse Sells For $34 Million at 520 Park Avenue


 520 Park Avenue (Instagram via Tal Alexander)

520 Park Avenue (Instagram by way of Tal Alexander)

Penthouse 62 at Zeckendorf Development’s 520 Park Avenue closed for $34.5 million in an off-market deal, in accordance with a supply acquainted with the matter. The quantity was 19 p.c beneath the $42.5 million asking worth.

The client, the unit’s first proprietor, was not recognized.

Inside 520 Park Avenue (Instagram via Tal Alexander)

Inside 520 Park Avenue (Instagram by way of Tal Alexander)

The penthouse is the highest full-floor residence within the 64-story, 781-foot-tall constructing on Billionaire’s Row southeast of Central Park. Many models within the condominium have bought for significantly lower than the listed worth.

Zeckendorf initially wished $130 million for one of many constructing’s penthouse models, earlier than splitting it in two and pricing one for $40 million and the opposite reportedly between $80 million and $100 million.

Whereas most patrons at 520 Park Avenue have hid their identities behind LLCs, property data present the constructing, which has a sellout of $1.25 billion, has bought not less than 43 models to a gaggle of uber-wealthy residents.

In 2019, vacuum mogul James Dyson sucked up a sixtieth ground penthouse for $73.8 million, about $10 million beneath the asking worth for the 9,000-square-foot house. Equally, billionaire Frank Fertitta, former co-owner of the Final Combating Championship combined martial arts firm, paid $67.9 million for his penthouse, which was listed for $79 million.

Final 12 months, a three-bedroom condo sold for $36 million — or $7,778 per sq. foot — to Gil-Haim Agmon and Orit Alster Ben Zvi. Agmon is the CEO of an Israeli autoparts holding firm referred to as Delek Automotive Programs.

That unit was initially a part of a 9,100-square-foot duplex that was split into two units in response to the delicate luxurious market previous the pandemic.

Penthouse 62 affords panoramic views of Manhattan and Central Park. The spacious front room has hardwood flooring and outsized home windows. The all-white kitchen with black home equipment has two ovens and marble counter tops.

Tal Alexander, an agent at Douglas Elliman, mentioned on his Instagram page that his shoppers have been the patrons and “acted quickly” to evaluate the town’s ultra-luxury market alongside Central Park and shut the sale.



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