NYC’s Tallest Building Attracts Big Rents

New York City’s 432 Park Avenue project has already attracted $1 billion in U.S. buyers who want to live in what will be the tallest building in NYC …

New York City’s 432 Park Avenue project has already attracted $1 billion in U.S. buyers who want to live in what will be the tallest building in NYC and the western hemisphere, and now units are available for international purchase. The building is 96 stories tall and features units with large windows that look on the city in all directions. The building is surrounded by some of the most well-renowned retailers, restaurants and venues in the world, and units are selling handily for between $7 million and $95 million to buyers from all over the globe. For more on this continue reading the following article from Property Wire.

A 1,396 foot tower that bill become the tallest building in New York City and the Western Hemisphere when it is completed in 2015 has been launched on the international sales market.

The 432 Park Avenue project has already achieved nearly US$1 billion in sales after the first residential lots were put on the market in March earlier this year.

Now CIM Group and Macklowe Properties are launching the tower to the international buyers market. It is expected to be popular with buyers from South America, the Middle East, the UK, China and Russia with prices ranging fro from US$7 million to US$95 million.

Designed by Rafael Vinoly and located on Park Avenue between 56th and 57th Street, 432 Park Avenue is surrounded by world renowned retailers offering the best of fashion, art and design.

The slim and elegant square tower will have 96 stories and built of architectural concrete, steel, and glass. All windows measure 10 feet by 10 feet, flooding residences with abundant natural light and providing spectacular views of Central Park, the Hudson and East Rivers, Atlantic Ocean, and many iconic Manhattan buildings and avenues.

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‘432 Park Avenue is quickly becoming one of New York City’s most prestigious addresses and a worthy addition to its unparalleled skyline,’ said Avi Shemesh, CIM co founder and principal.

‘Our experience in developing large transformative urban projects made 432 Park Avenue a natural fit with our investment philosophy and management style. We are confident that we are creating tremendous value for residents, our investors, and New York City,’ he added.

In the tradition of New York City’s finest apartment houses and hotels, residents will enjoy 30,000 square feet of amenities including a private restaurant, outdoor garden for dining and events, spa and fitness centre with sauna, steam and massage rooms, a 75 foot swimming pool, library, lounge, billiards room, screening room and performance venue, children’s playroom, and boardroom.

There will also be in-suite catering available, concierge services, a 24 hour doorman, and valet parking services. The actual apartments will include private elevator landings, separate service entrances, eat in kitchens, his and her bathrooms and large master suites with adjoining dressing rooms.

Interior finishes include 12.5 foot finished ceilings, solid oak flooring, custom hardware, and the highest quality natural materials as well as kitchens with built in custom cabinetry, Miele stainless steel appliances, Dornbracht fixtures, and marble countertops and flooring.

Master bathrooms are fitted in book matched slabs of Italian statuario marble and contain free standing soaking tubs, custom vanity units and radiant  heated floors.

Residents will also have the exclusive ability to purchase climate controlled wine cellars, office suites, staff apartments, and storage facilities as a complement to their residence.

According to Harry Macklowe of Macklowe Properties 432 Park Avenue is an extraordinary site that demands an exceptional building with design and materials that will stand the test of time.

‘The building has been designed for, and discreetly marketed to, a sophisticated audience that expects that every detail and finish is carefully considered and of the finest quality. We are delighted that this high level of attention that our team has spent on every aspect of the project has been recognized by exceptional levels of interest from a wide array of prominent New Yorkers as well as national and international purchasers,’ he added.

This article was republished with permission from Property Wire.


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