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In Market

$70M 432 Park Avenue Pad in Contract; Vancouver Condo Sales See 30% Spike

By: Ameena Walker

432 Park Avenue Residence in Contract for Nearly $70M

A mysterious buyer has entered into contract for a sky-high residence at Rafael Viñoly’s slim supertall tower, 432 Park Avenue. Per the Wall Street Journal, insiders close to the transaction have revealed that the 8,000-square-foot apartment on the 82nd floor is set to close for roughly $70 million, putting it in a position to become the largest residential sale in New York City this year.

The sweeping residence offers five bedrooms (four of them with ensuite bathrooms), two offices, a media room, and a great room spanning 1,100 square feet. Ceilings soar more than 12 feet high, and oversized windows provide the stunning Manhattan views that 432 Park Avenue is lauded for.

In Vancouver, Luxury Condominiums See Nearly 30% Sales Boost in Q1 2022 

Vancouver’s stronghold on the title for Canada’s priciest real estate market isn’t letting up. A newly published report from Sotheby’s International Realty, called “Spring 2022 State of Luxury,” revealed a huge jump in the number of condominiums sold for more than $1 million Canadian dollars ($796,000). The city saw a nearly 30% increase in sales of condos priced at CA$1 million or more in the first quarter, with 559 condos selling in this region between January and the end of March. This figure is almost as high as the number of CA$1 million-plus detached single-family homes sold (599) during the same timeframe. The country’s most expensive listing remains a Vancouver triplex penthouse, encompassing more than 8,000 square feet and seeking US$38.5 million at Three Harbour Green.

NoMad Hotel Enters Luxury Condo Space With Planned NoMad Residences Wynwood

Developer Related Group is partnering with Tricap to help NoMad Hotel realize its first residential building, the New York Post reports. The NoMad Residences Wynwood will rise a block away from Wynwood Walls, Miami’s famed outdoor street art museum, and will be designed by Arquitectonica.

The building will stand just nine stories upon completion and will feature 329 condominium residences, each with private balconies, measuring between 464 to 931 square feet. The NoMad Residences Wynwood will feature a rooftop restaurant and bar lead by James Beard Award winner and Eleven Madison Park bar director Leo Robitschek, and a food hall will occupy the ground level. Prices are expected to start around the $500,000 mark, and groundbreaking is anticipated in the fourth quarter of this year.

Upper East Side Penthouse at 180 East 88th Street Lists for $33M 

The penthouse at the highest elevation north of 72nd Street on the Upper East Side is at the DDG-designed 180 East 88th Street, and it has just hit the market. The 5,508-square-foot home is a duplex residence with five bedrooms, four and a half bathrooms, and a $33 million price tag.

Echoing many of the building’s Art Deco and European-inspired design elements, the penthouse displays remarkable archways, brass finishes and trimmings, and a captivating sculptural staircase that connects the two interior floors. There are also two living room spaces—one with a gas fireplace and wet bar—an eat-in kitchen, and an expansive private roof terrace overlooking Central Park. 

Last Penthouse at Sunny Isles’ Residences by Armani/Casa Asking $19.95M

The last available penthouse at Giorgio Armani’s first-ever residential development, Residences by Armani/Casa in Sunny Isles Beach, has hit the market asking $19.95 million. The penthouse is a five-bedroom, six-and-a-half bathroom duplex with floor-to-ceiling glass windows and an impressive rooftop with a private pool and uninterrupted ocean views. Mansion Global reports that the seller recently closed on a $14.4 million penthouse in the same building.