432 Park unit sells for $19M

Jardin 432, LLC paid $19.1 million to 432 Park 80A, LLC for condo (SC) unit 80A at 432 Park Avenue in Plaza District, Manhattan.
The deal closed on August 30, 2021 and was recorded on September 2, 2021.
The property has 2,633 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $7,254 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property in 2016 for $18,967,712.
(120628776)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 146 residential units on November 10, 2015.
This is for unit 80A.

Within a 400-foot radius of 432 Park Avenue, PincusCo identified 11 commercial real estate items of interests occurred over the past 24 months.
Of those 11 items, one was in new building development. It was a new building permit issued on November 19, 2020 for a 59,819-square-foot R-2 building with 62 residential units at 115 East 55th Street.
Of those 11 items, three were sales above $5 million totaling $636.3 million. The most recent of the three was Jeffrey Ming Chug Cheng which bought the 6,750-square-foot, six-unit mixed-use building (S5) on 58 East 56th Street for $8.0 million from Alonso Costa on May 6, 2021.
Of those 11 items, seven were loans above $5 million totaling $920.9 million. The most recent of the seven was Oestreicher Properties which borrowed $31.0 million from Bank Leumi secured by the 0-square-foot, 21-unit office building (O6) on 430 Park Avenue on August 30, 2021.

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