432 Park Avenue

432 Park Avenue is a residential skyscraper at 57th Street and Park Avenue in Midtown Manhattan, New York, overlooking Central Park. The tower is designed by Rafael Viñoly and interiors by Deborah Berke. Its construction started in September 2011 and was fully completed on December 23, 2015. The construction cost of 432 Park Avenue is USD $1.25 Billion and was opened in 2016. The tower is developed by CIM Group and Macklowe Properties.

More Facts About 432 Park Avenue

• 432 Park Avenue is located on the site of the former Drake Hotel, which was sold to Harry Macklowe in 2006 for $418 million.
• In January 2010, Developer CIM Group agreed to pay $305 million for the completion of 434 Park Avenue and other sites on 57th street.
• The structure includes seven 12-story-tall segments with residential units. Each segment is separated by a two-story-tall section without any windows or interior space, allowing wind gusts to pass through the building.
• 432 Park Avenue has 147 apartments in total including 122 luxury condominium units and 25 studio units on the 28th and 29th floors.
• The 91st through 96th floors contain the penthouse units which are for the Billionaires.
• In June 2012, units would cost $4,500 per sq ft but that rate had increased to $6,742 per sq ft by March 2013.
• According to news reports, living for a month in 432 park avenue cost USD $60,000.
• At the time of its completion, 432 Park Avenue was the 3rd tallest building in the United States and the tallest residential building in the world.

Ranking

Design

• The design of the structure was conceived by architect Rafael Viñoly, who was inspired by a trash can designed in 1905 by Austrian designer Josef Hoffmann. 
• The metal trash can’s grid-like pattern is replicated in the tower’s facade.
• The interiors are designed by Deborah Berke and the firm Bentel & Bentel.
• The tower has 85 occupiable stories, which consist of a mezzanine and 84 numbered floors.
• The tower is divided into six groups of 12 floors by five double-height mechanical spaces which are unenclosed to reduce the tower’s wind load.
• The floor numbering system includes mechanical levels, the top story is numbered as the 96th.
• The facade features a regular grid of 10-foot-square (3.0 m) apertures, giving each occupiable floor six 100-square-foot (9.3 m²) windows on each face, and each double-height mechanical area with twelve openings per face.

Expensive Buyer

• Two penthouses on the 91st floor were sold for $60 million in 2018 to Caryl Schechter, the wife of hedge-fund manager Israel Englander.
• Units on the 92nd and 93rd floors were sold in 2017 for a combined $91 million.
• The 95th-floor penthouse, originally listed for $82 million, was split in half in 2018 and the individual units were sold at $30 million.
• The top floor unit, 96th floor, was listed at $95 million but actually sold to Saudi businessman Fawaz Alhokair for $88 million in 2016.
• The sale of all of the units was expected to bring in $3.1 billion in profit, the highest of any building in New York City.