432 Park Avenue Condo Asking $92M Finds Buyer

A five-bedroom condo in the supertall at 432 Park Avenue has gone into contract after asking $92 million.

If the unit sells near its asking price, the deal would be among New York City’s most expensive sales of the year, according to The Wall Street Journal. The sale also includes two storage units and two adjacent studio apartments.

The full-floor unit spans over 8,000 square feet. It was designed by Japanese architect Hiroshi Sugimoto for the seller, hedge funder and collector of Asian art Mitch Julis. Julis bought the apartment for roughly $59 million in 2016, according to property records cited by the Journal. He first listed the unit in 2021 for $135 million.

Listing agent Noel Berk of Engel & Volkers declined to comment to the Journal on the contract price or the identity of the buyer. Junis didn’t immediately return a request for comment from the outlet.

The apartment is designed as a temple of Zen, furnished with 60-year-old Bonsai trees, cedar shutters, Shikkui plaster walls and a traditional Japanese tea room. It also has a home office and den and offers views of Central Park.

A huge sale at the nearly 1,400-foot-tall tower on Billionaires’ Row would be welcome news for the building, which has been the site of alleged construction defects and litigation between the condo board and developer CIM Group. The developer recently moved to foreclose on Harry Macklowe’s three condos in the building.

The building’s penthouse, originally listed for $169 million by Saudi real estate magnate Fawaz Al Hokair, also saw its asking price lowered recently to $130 million.

Manhattan’s luxury market has slumped recently, as is tradition near Labor Day weekend. Just 11 units in the borough asking $4 million or more entered contract last week, according to a weekly report by Olshan Realty, the lowest figure in nearly a year.

— Harrison Connery