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Top 10 Facts about 432 Park Avenue Condominiums

432 Park Avenue is a residential skyscraper located in Manhattan, New York City. The building overlooks the Central Park. The building stands at 425.5 meters. As of 2022, it was the sixth-tallest building in the United States and the fifth-tallest building in New York City.

While it was designed by Rafael Viñoly, 432 Park Avenue Condominiums was developed by the CIM Group and Harry B. Macklowe. It has some of the most expensive residences in New York City. Not only is the building beautiful to look at, it is also very functional. Let’s have a quick look at the Top 10 Facts about 432 Park Avenue Condominiums.

1. It is part of the Billionaire’s Row

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Billionaires’ Row is a set of ultra-luxury residential skyscrapers. Most of these residential skyscrapers are located along the southern end of Central Park in Manhattan, New York City. One of the Billionaire’s Row character is that they’re taller than 300 meters.

This means that they are among the tallest buildings in the world. It is the Billionaire’s Row because the residences are quite expensive. 432 Park Avenue has some of the most expensive residences in the city. The median cost of selling a unit is over 10 million dollars.

Check out these Tallest buildings in the United States.

2. 432 Park Avenue Condominiums is one the tallest buildings in United States

Immediately after 432 Park Avenue Condominiums were constructed, it was the third-tallest building in the United States. It was also the tallest residential building in the world.

432 Park Avenue Condominiums stand at 425.5 meters. As of 2022, it was the sixth-tallest building in the United States, the fifth-tallest building in New York City, and the third-tallest residential building in the world.

3. It was designed by Rafael Viñoly

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432 Park Avenue was designed by Rafael Viñoly. The architect of record was SLCE Architects. Rafael Viñoly Beceiro is an Uruguayan architect. He is the founder of Rafael Viñoly Architects, founded in 1983.

The firm has offices in New York City, Palo Alto, London, Manchester, Abu Dhabi, and Buenos Aires. The condominiums were designed using the contemporary architectural style. The interiors are designed by Deborah Berke and the firm Bentel & Bentel.

Read more about the 20 Most Famous Buildings in New York. 

4. 432 Park Avenue Condominiums has a variety of amenities to cater for it’s residents

The building’s amenities include golf training facilities, and private dining and screening rooms with velvet armchairs. On floor 12 there is a private restaurant. Floors 12 through 16 comprise a “club unit”.

This has a fitness center, a swimming complex, a whirlpool, sauna, and steam room. There are private meeting rooms with mahogany paneling including a 14-seat boardroom and a library curated by Assouline Publishing.

5. The Drake Hotel was once located where the condominiums stand today

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TheDrake Hotel had been constructed in 1926 at the corner of Park Avenue. The hotel’s owner, Host Hotels & Resorts, exposed it’s intentions to dispose the property in 2006. Harry Macklowe purchased the Drake in 2006 for $418 million.

In October 2007, the New York City Department of Buildings issued demolition permits for the site. In 2008, CMZ Ventures partnered with Macklowe to offset his debts and develop 432 Park Avenue Condominiums.

6. It’s construction began in 2012

Excavation for the building’s foundations began in early 2012. The New York City Department of Buildings issued the construction permit two months later. By September 2012, the building’s concrete foundation had been completed.

The tower crane had been installed. 432 Park Avenue passed the 300 meters mark in June 2014. The topping out ceremony was held on October 10, 2014, signifying that the building had reached its maximum height. Construction was officially completed on December 23rd, 2015. 

Click to read more about 25 famous places to see in New York.

7. Residents filed complaints of defects in 2021

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Allegations of defects and complaints by residents were published by The New York Times in early 2021. According to the report, a leak at a mechanical floor forced two elevators out of service for several weeks in 2018.

Flood damage has been reported in several apartments. Other complaints have included high wind trapping a resident inside an elevator and causing “creaking, banging and clicking noises”. CIM group and Macklowe Properties were sued for these.

8. The condominium has notable residents

By the end of 2015, close to 90 percent of the apartments had been sold. Almost half of these were owned by a foreign citizen, “part of a global elite that collects residences like art.” Many of the buyers were wealthy Chinese.

Many buyers concealed their identities by forming limited liability companies to buy the units. Notable residents include Lewis A. Sanders, Bennett LeBow, Ye Jianming, David Chu, Hely Nahmad, Jennifer Lopez, and Alex Rodriguez.

Check out the 10 Things You Did Not Know about Jennifer Lopez.

9. The building has been subject to several criticisms

432 Park Avenue has been criticized as a representation of New York’s increasing cost of living. A critic for the Los Angeles Times called the skyscraper an “architectural emblem of rising inequality”. The architecture critic for New York magazine, Justin Davidson, wrote that the building is nothing more than “stacked cubbyhole units”. He questioned the creative value of the building.

10. It has very fundamental structural features

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To maximize occupiable space, the stairways are installed in a scissor-stair configuration. Each stairway’s flights are installed on top of the other’s.

The foundation of the building contains about 60 rock anchors that descend 18 to 21 meters into the underlying bedrock to provide stability. To mitigate swaying further, the top of the tower contains two tuned mass dampers.