The developers of 432 Park Ave. have split full-floor apartments at the 1,396-foot tall tower in half in a move that may signal a slowdown in sales for $50 million-plus apartments.
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While 432 Park is over 70% sold out, the tony New York City Condo building has been having a hard time selling its high, full floor apartments. It's no wonder that they remain unsold, since full floor units at 432 Park measure over 8,000 square feet, enormous for New York City condos. And, since they are on some of the highest floors, very expensive as well (close to $80 million).
Dividing up full floors on 91-95 into two sized units, one at 3,977 sq. ft. and one at 3,942 sq. ft., would make much more sense, as it would be more in line with the sizes being offered by many of its competitors, such as 520 Park Avenue, which has full floors at 4,613 sq. ft., Baccarat (although not all will consider this an exact competitor), which has full floor units at 4,500 sq. ft., and 111 West 57th Street, which has units around 5,000 sq. ft.
One57 and 53 West 53rd Street (MoMa tower by Jean Nouvel) have larger units, with full floors at 6,240 sq. ft. and 6,786 sq. ft., respectively. But, even with 432 Park Avenue cutting up floors 91-95, the building will still be the only one to have such enormous full floors, clocking in at 8,055 sq. ft. on floors 96 to 99. To learn more about the floorplans offered at 432 Park, contact us.