NEW YORK | 432 Park Avenue (Drake Hotel dev.) | (1,396) FT / 432 M | 89 FLOORS - Page 147

CCs77 · #**2921** Posted **Dec 21, 2012, 6:38 PM**

Quote:

Originally Posted by NYguy

There's a market for that. Park Avenue and West End Avenue aren't the same.

Quote:

Originally Posted by Crawford

Real estate pricing is almost 100% location. Park/57 is a totally different neighborhood than West End Ave. That likely accounts for the signficant difference.

I think beyond the location is the buyers profile issue (related with the location of course) I guess most people buying there doesn't have "just" 5 or 6 million dollars to buy an apartment, they must have more money, and in many cases they don't buy the apartments as permanent residences but as a pied-a-terre and an investment as some people had remarked here.

But If I had 5 or 6 million dollars to buy an apartment in Manhattan, to actually live in, I certainly won't buy one there. I'd rather buy a 2 or 3 bedroom with a terrace in another, less expensive area. I prefer a better apartment in a supposedly not as better neighborhood.

599GTO · #**2922** Posted **Dec 21, 2012, 10:18 PM**

Quote:

Originally Posted by CCs77

I think beyond the location is the buyers profile issue (related with the location of course) I guess most people buying there doesn't have "just" 5 or 6 million dollars to buy an apartment, they must have more money, and in many cases they don't buy the apartments as permanent residences but as a pied-a-terre and an investment as some people had remarked here.

But If I had 5 or 6 million dollars to buy an apartment in Manhattan, to actually live in, I certainly won't buy one there. I'd rather buy a 2 or 3 bedroom with a terrace in another, less expensive area. I prefer a better apartment in a supposedly not as better neighborhood.

Park and 57th isn't even a superior "neighborhood". It's not even a proper neighborhood -- it's Midtown. So yes, you can get a larger apartment in a better neighborhood somewhere else in Manhattan but 432 Park is a trophy building (and extremely luxurious one with breathtaking views to boot) so the billionaires buying here don't care. It's also closest to Central Park -- the pinnacle of Manhattan luxury, and the global rich who will buy in this building would never get past the boards at the haughty co-ops that actually line Central Park; part of the reason why the condos in the area (15 CPW, Plaza, Time Warner, One57 and now 432 Park) command such sky high prices and sell rather quickly. Ask Sheik Hamad bin Jassim bin Jabr al-Thani of Qatar, a billionaire who was recently rejected from purchasing a co op at 907 Fifth Avenue.

NYguy · #**2923** Posted **Dec 22, 2012, 7:25 PM**

November 30, 2012

http://www.432parkavenue.com/new-con...res/2012/1388/

____

As of today....(December 22, 2012)

SteveD · #**2924** Posted **Dec 22, 2012, 8:03 PM**

Just subscribed to this today. Just spent last weekend in NYC, had a blast as always. Nothing quite like Manhattan over the holidays.

This tower is going to be so much fun to watch rise!

nycaddict · #**2925** Posted **Dec 22, 2012, 9:08 PM**

does anyone know why its taking so long for the the first floor to be built?

CCs77 · #**2926** Posted **Dec 22, 2012, 9:46 PM**

I guess it is because they are installing the core climbing system

nycaddict · #**2927** Posted **Dec 22, 2012, 9:57 PM**

Quote:

Originally Posted by CCs77

I guess it is because they are installing the core climbing system

thanks

Spotila · #**2928** Posted **Dec 23, 2012, 12:43 AM**

Such a busy little site

THE BIG APPLE · #**2929** Posted **Dec 24, 2012, 1:19 AM**

JayPro · #**2930** Posted **Dec 24, 2012, 3:59 AM**

I assume that mockup was meant to show overall dimensions and not architectural detail. I suspect that it won't end up looking quite as plain as shown there.

Duck From NY · #**2931** Posted **Dec 24, 2012, 6:45 AM**

Quote:

Originally Posted by JayPro

I assume that mockup was meant to show overall dimensions and not architectural detail. I suspect that it won't end up looking quite as plain as shown there.

I don't know, I'm pretty worried. I mean, look at the incredible detail on the Plaza Hotel in that Google Earth pic!