From left: Fawaz Al Hokair; Tal and Oren Alexander; and 432 Park Avenue (International Institute for Iranian Studies, Getty Images, Trulia, iStock)
Saudi retail magnate Fawaz Alhokair is once again trying to sell his pricey penthouse at 432 Park Avenue.
Alhokair last year listed the unit for $170 million, an ask that would have made it one of the most expensive sales in city history if it fetched even close to that price.
However, the highest unit in the supertall is back on the market, with a new brokerage in tow. Tal and Oren Alexander, fresh off launching Official with the backing of white-label firm Side, have the listing at the tower, the New York Post reported. Ryan Serhant previously had the listing.
The apartment’s chance at setting a record is unclear, as the brokers declined to divulge how much their client is seeking for the penthouse this time around.
“The price will be on request,” Tal Alexander told the outlet.
Read more
Residential
New York
Mystery buyer drops $76M on Crown Building condo
Residential
New York
Woolworth Tower apartment featured in “Succession” sells for $20M
Residential
Los Angeles
Saudi retail magnate behind $94M Makowsy manse deal: report
The founder and chairman of Saudi-based hospitality and entertainment conglomerate Fawaz Alhokair Group paid $87.7 million in 2016 for the six-bedroom, seven-bathroom apartment. Co-developer CIM Group provided him with a $56 million loan for the deal, the most expensive in the tower at the time.
The 8,200-square-foot apartment includes a breakfast bar overlooking Central Park, a fireplace, a library and a grand piano. The building also includes a number of amenities, including a private restaurant, an outdoor terrace, an indoor pool, a gym with a spa, a yoga studio and a screening room.
The building is no stranger to headlines, including those sparked by an explosive lawsuit filed by the condo board against developers CIM and Macklowe Properties. In addition to faulty elevators, the board alleges flooding, noise from building sway and an electrical explosion.
In a response filed in New York Supreme Court in December, CIM called the lawsuit “ill-advised” and dismissed it as a “publicity campaign.” The co-developer said the building was “without a doubt, safe” and called its “amenities, features, fixtures and finishings … the pinnacle of luxury.”
[NYP] — Holden Walter-Warner