With the news that CIM Group and Macklowe Properties have decided to break up 5 full-floor penthouses at 432 Park, each around $75 million, into smaller apartments, it seems sales are beginning to slow at the Viñoly-designed building.
As more and more buildings rise taller and taller, some of the hype may be beginning to abate. Indeed, there’s a surplus of inventory in the surprisingly-existent range of $50 million – $1 bajillion.
Each of these doomed residences will be divided in two, into a 4,400 and a 3,600 sqft. condo. The new units will ask between $40.25 and $39.75 million, and are hoped to lure a wider range of buyers.
But don’t worry, if you’re currently weeping over losing a prospective home, you haven’t missed your chance yet. In fact, if you’re still on the hunt for a 8,055 sqft. pied-à-terre 1100 feet in the sky, stay tuned.
Mr. Trump, thank you for your patience, and please don’t cry—there’s one left.