REVEALED: Asking Prices, Floorplans for 520 Park Avenue, the Next Billionaire’s Row Blockbuster
Developers of 520 Park Avenue have revealed apartment prices for all units in the building, which is poised to become one of the city’s most expensive condominium towers and include a $130 million penthouse. The building, which will rise in the high-priced corridor flanking Central Park that has been dubbed “Billionaire’s Row,” is expected to gross $1.2 billion in apartment sales, according to initial offering prices detailed in documents filed with the Attorney General’s office.
The $1.2 billion in total sales—which will make the building one of the most expensive in Manhattan history—is all the more impressive considering that current plans call for only 31 units, most of which will be full-floor residences.
Pricing, including that of the $130 million penthouse
The full-floor units on the building’s 14th through 20th floors will be 4,613 square feet each and have four bedrooms, with prices running between $16.2 million and $17.95 million. The 4,628-square-foot apartments on the 21st through 36th floors, which will also have four bedrooms, will be priced from $18.45 million up to $36.35 million.
Three floorplans of the triplex unit
The most eye-popping prices are on the building’s top floors, where seven duplex penthouses and a crowning triplex penthouse are planned. Prices for the duplex penthouses will range from $67 million to $83 million, while the 12,398-square-foot triplex will cost $130 million, or $10,489 per foot. The $130 million price tag made the unit the most expensive on the market until recently, when developers of the Sony Building at 550 Madison Avenue announced plans to market a $150 unit.
Zeckendorf Development is behind the 54-story limestone tower on 60th Street between Park and Madison avenue, and Robert A.M. Stern is the architect—the same team responsible for 15 Central Park West, which was completed in 2008 and quickly became one of the city’s most expensive and prestigious properties.
520 Park is in the very early stages of construction—steel has yet to begin rising at the development site—and is expected to be finished in 2017, according to marketing materials.
[520 Park Avenue on CityRealty]
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