432 Park Condo With $92 Million Price Tag Finds a Buyer
The Billionaires’ Row apartment would be among the most expensive deals in New York this year if it closes for near its asking price
A Manhattan apartment priced at $92 million has gone into contract, according to the listings website StreetEasy.
The five-bedroom condo, located at Manhattan megatower 432 Park Avenue, would be among the priciest New York homes to sell this year if it closes near its asking price.
Listing agent Noel Berk of Engel & Völkers declined to comment on the exact contract price or on the identity of the buyer.
The seller, Mitch Julis of hedge fund Canyon Capital Advisors, didn’t immediately respond to a request for comment.
The full-floor unit first came on the market at $135 million in September 2021 but underwent a significant price cut in May, StreetEasy shows.
Spanning just over 8,000 square feet, the Billionaires’ Row unit was designed for Julis, a major collector of Asian art, by the Japanese architect Hiroshi Sugimoto. Designed as a temple of Zen, the apartment is furnished with cedar shutters, Shikkui plaster walls, 60-year-old Bonsai trees and a traditional Japanese tea room with mats for kneeling.
The apartment includes a home office and a den, and has views of Central Park and the Manhattan skyline, the listing shows.
Two adjacent studio apartments and two storage units were included in the $92 million asking price, according to the listing. Julis paid around $59 million for the main apartment in 2016, according to property records.
The ultimate sales price will be an indicator of how values are faring at the 1,396-foot-tall Rafael Viñoly-designed tower, which launched sales in 2013. Recently it has been beset by reports of alleged construction defects and ongoing litigation between the building’s residential condominium board and the developer, an entity controlled by Los Angeles-based CIM Group. CIM Group didn’t respond to a request for comment.
Another seller, Saudi retail and real-estate magnate Fawaz Al Hokair, recently lowered the price of the building’s penthouse to $130 million, down from the original $169 million.