Foreign Property News | Posted by Aye Myat Thu
This trophy skypad on Billionaires’ Row was once on the market for $135 million. After lingering in the clouds with no buyers, the five-bedroom, five-bath home was price-chopped to $92 million.
It finally sold for $65.6 million, according to city property records and a report in The Real Deal.
Designed as a “temple of Zen,” the massive, 8,000-square-foot apartment is on the 79th floor of 432 Park Ave. — once the tallest building in the Western Hemisphere for a New York minute, rising 1,396 feet above Gotham.
The seller is Mitchell Julis, of Canyon Capital Advisors, according to sources. He bought the condo for $59 million in 2016.
The new owner is an LLC tied to Strong Advisory Group, based in Stamford, Connecticut.
However, Julis took a very un-Zen style hit on the property, as he bought it as a “white box” and put millions into the design, hiring Japanese architect Hiroshi Sugimoto.
(432 Park stands on Billionaires’ Row. Stefano Giovannini)
The extraordinary — and extraordinarily discounted — home, which comes with its own Japanese tearoom, went into contract in August.
Design details included cedar shutters, shikkui plaster walls, high ceilings and centuries-old yakusugi cedar wood floors.
It also features a den, an office, two private elevator landings, and panoramic views of Central Park and the city skyline.
The sale includes custom built-in furniture and integrated art installations, along with two adjacent studio apartments and two storage units.
Building amenities in the 96-story tower, between East 56th and East 57th streets, include a gym with a spa, a sauna and a 75-foot pool — along with a library, a billiards room, a screening room, a conference room, a children’s playroom, a lounge and a private restaurant run by Michelin-starred chef Shaun Hergatt.
Listing agent Noel Berk, of Engel & Völkers, declined to comment.
Ref: This Billionaires’ Row condo, once asking $135M, has sold for less than half (nypost)