Penthouse at Troubled Supertall Tower Seeks $169 Million

“This is like a try-God price tag,” she said about the penthouse listing, noting that the selling price for each square foot, much more than $20,500, would shatter the latest document for a one condominium, which was established in February 2012, when a 6,744-square-foot device at 15 Central Park West offered for about $88 million, or $13,049 a sq. foot, according to the appraiser Jonathan J. Miller. In May perhaps, a multiunit sale at a further rental skyscraper, 220 Central Park South, shut for a blended price tag of $157.5 million, or $13,269 a sq. foot.

The most high-priced condominium in New York marketed for significantly extra than what the 432 Park Avenue penthouse is inquiring, but it was also significantly more substantial. The condominium, a 23,029-sq.-foot spread at 220 Central Park South, offered in 2019 for approximately $240 million, to Kenneth Griffin, the hedge fund billionaire.

The best sale price at 432 Park Avenue happened in 2017 with the put together sale of adjoining flats on the 92nd and 93rd flooring, with just about 12,000 square ft of area, for about $91 million, Mr. Miller said. It was outlined for $120 million.

“Not to make a pun, but it’s above the top rated,” Mr. Miller reported about the new penthouse listing.

The tower at 432 Park Avenue, developed by the organization of the star architect Rafael Viñoly, has been working with a quantity of mechanical difficulties and security concerns, as the Situations claimed in February. Inhabitants have complained of elevator malfunctions through large-wind situations, creaking walls and multimillion-greenback floods all over the center and leading of the setting up, which contributed to higher frequent fees.

But record exhibits that reputational problems can be quick lived, Ms. Olshan stated. She details to the luxury rental towers at 173 and 176 Perry Road in the West Village, the place building issues ended up greatly publicized in 2008, but resale values have mostly held rate with the sector.