Billionaire Buys Towering $95M Manhattan Condo, Report SaysNEW YORK, May 30 (UPI) — A Saudi real estate magnate is reportedly under contract to purchase the second-most expensive condo in New York City, for the price of $95 million.
The towering unit, located at 432 Park Ave. in Midtown Manhattan — the tallest residential tower in the Western Hemisphere — was placed under contract in 2013 but has yet to close, various news media reported.
The buyer is said to be Fawaz Al Hokair, a Saudi real-estate magnate worth a reported $1.37 billion. Developers Macklowe Properties and CIM Group, as they do with all other buyers, declined to confirm Hokair’s presence on the contract.
The condo, which sold for $95 million, comes with nearly 8,300 square feet, six bedrooms, seven bathrooms, and quite the view. At 1,396 feet — just 380 feet shorter than the new One World Trade Center — 432 Park Avenue boasts Manhattan’s highest rooftop.
Other perks include a wood-burning fireplace, 10-foot-by-10-foot windows and heated bathroom floors, New York Business Journal reported.
There are two other penthouses for sale in the tower, one priced at $81 million and the other at $75.6 million.
Designed by architect Rafael Viñoly, it is the tallest residential building in the world and the third tallest free-standing building in the United States.
The developers say views on the upper half of the building include just about all of New York City.
“Take in the entire city below, from the Hudson to the East River, from the Bronx to Brooklyn, from Central Park to the Atlantic Ocean,” the tower’s website says.
Hokair is the founder of the Fawaz Alhokair Group, which also sells Western retail brands in the Middle East, North Africa and Central Asia.
The building, to be completed this year, contains 104 condominiums and stands on the site of the old Drake Hotel. It is situated in one of the city’s most sought locations, between East 56th and 57th streets on the west side of Park Avenue.
Last year, a buyer purchased the city’s most expensive condo — a $100 million penthouse in the nearby ONE57 tower, the New York Post reported.