Posted Sep 4, 2012, 5:57 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,613
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^ That's great news. Financing was supposed to be finalized in June.
http://observer.com/2012/09/higher-t...asking-prices/
Higher Tower, Higher Prices: Is 432 Park Avenue Upping Its Asking Prices?
By Kim Velsey
September 4, 2012
Quote:
With everyone else tacking on millions to the asks for their apartments, we guess 432 Park Avenue wanted to get in on the action, even if the most soaring of soaring residential towers has yet to break ground. Why should One57 and 15 Central Park West rake in all the cash? Especially when 432 Park Avenue is set to be the tallest residential building in the city at 1,395 feet? In her weekly luxury market report, Donna Olshan of Donna Olshan Realty writes that sources tell her that the blended average asking price in the building will be about $5,800-a-square foot. Last we heard (when The Wall Street Journal snagged a brochure for the luxury high-rise this June), the average ask was at $4,500-a-square foot. One57 is still more expensive even with the price increase, offering some bargain prices of around $3,500-a-square foot on the lower levels, but charging as much as $13,000-a-sqaure foot for the penthouse (which is currently in contract for somewhere north of $90 million).
Of course, we’d expect some more price adjustments before sales start at the Harry Macklowe/CIM project (although Ms. Olshan said that the building is due to come on the market as soon as this fall!). So what kinds of luxuries and amenities can residents at the 117-unit building expect? Designed by Rafael Viñoly with interiors by Deborah Berke, the building is set to offer residents onsite housekeeping, valet parking, a 75-foot pool, a yoga studio, a fitness center, a billiards room, a children’s playroom, a screening room, six elevators, a landscaped sculpture garden and a a 64-seat private restaurant that opens onto a huge terrace. Also, owners will be able to buy offices below the 34th floor for those who hate to walk/take a Town Car to work. Not that anyone will be seeing any of these touches anytime soon. The building is not expected to be finished until 2015.
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http://olshan.com/marketreport.php
Quote:
Some of the design features are dramatic: 12 ½ -foot ceilings and huge picture windows that measure 10-feet wide and 10-feet tall, providing panoramic views of Central Park and the rivers above the 55th floor. 432 Park has a robust amenity package that includes doormen, concierge, onsite housekeeping, valet parking, a 75-foot pool, fitness center, yoga studio, children's playroom, a screening room, billiards room, and a 64-seat private restaurant that opens onto a huge terrace.
The condo takes great care to offer privacy and comfort with 6 elevators and a lobby on 56th Street between Park and Madison. There will also be a landscaped sculpture garden. My sources tell me that the blended average asking price will be $5,800/square foot. The building is due to come on the market this fall but it won’t be completed until 2015.
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