It’s been just three years. But one 65th-floor apartment at the ultra-luxury supertall 432 Park Avenue has traded hands four times.
And this time, the price marks a roughly $3 million drop from when the half-floor pad was first taken off the market in 2016.
Buyer WMC Property Holding LLC, linked to Ying Yu and with Li Wen Zhou as authorized signatory, shelled out $23.98 million for unit 65A at the Billionaires’ Row tower, according to the records that hit the city’s finance database Monday morning.
Read more
Popular
New York
Leaving so soon? Resales abound at 432 Park
Popular
New York
No backsies? At 432 Park, developers buy back a condo to make $39M sale
Popular
New York
Saudi billionaire closes on NYC's highest pad for $88M
The 4,019-square-foot condominium came on the market in July, with an asking price of $29.9 million according to StreetEasy. The closed deal works out to about 5,967 per square foot.
The sale came almost exactly two years after the seller, an entity linked to Anheuser-Busch Inbev executive Luis Felipe Pedreira Dutra Leite, picked up the home for $26.4 million from sponsors CIM Group and Macklowe Properties. (That executive in September closed on Luca Orlandi’s Upper East Side townhouse at 18 East 73rd Street for $27 million.)
The developers had bought back the unit for $27.9 million a couple of months prior to allow the unit’s first owner to trade up and buy a pricier condo 15 stories up.
Douglas Elliman’s Shari Scharfer Rollins had the listing. She did not immediately return a request for comment.
The price drops with each sale of 65A appear to reflect the turbulence in the Big Apple’s condo market. About a quarter of new condos units built since 2013 are unsold, and 38 percent of those units that have sold are being marketed as rentals, one recent analysis found.