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Discounted ask at 432 Park Ave tops Manhattan luxury contracts

Sponsor unit seeking $12M led 26 deals to open April

432 Park Avenue, The Alexander Team's Tal Alexander, 244 W 11th Street and Compass' Cindy Scholz (Getty, Google Maps, Compass, thealexanderteam)
432 Park Avenue, The Alexander Team's Tal Alexander, 244 W 11th Street and Compass' Cindy Scholz (Getty, Google Maps, Compass, thealexanderteam)

Manhattan’s luxury market began April lead by a slight dip in deals and a discounted ask at a familiar address. 

The most expensive home to enter contract was Unit 37B at 432 Park Avenue, with an asking price of $12.4 million, according to Olshan Realty’s weekly report of homes in the borough asking $4 million or more. That’s down from $18.2 million when it first listed in 2015.

The sponsor condo unit, one of the last in the building, has three bedrooms, four bathrooms and spans 4,000 square feet. It also has 12.5-foot ceilings and large windows. 

Amenities at the 96-story building designed by the late Rafael Vinoly include a 75-foot swimming pool, a fitness center, a private dining room and a garden.

Douglas Elliman’s Marc Palermo and Shari Scharfer Rollins had the listing. Official’s Tal Alexander brought the buyer.

The second most expensive home to enter contract was the townhouse at 244 West 11th Street, with an asking price of $10 million, down from $12 million when it hit the market in December. 

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The three-story home, in need of a renovation, spans 3,300 square feet and has four bedrooms and 5.5 bathrooms. It’s being sold with plans to expand it to 5,400 square feet. It was last bought for $8.5 million in 2021. 

Compass’ Cindy Scholz had the listing. 

The borough saw 26 contract signings last week, down four from the previous week. Of those, 17 were condos, four were townhouses, three were co-ops and two were condops. 

The homes’ combined asking price was $163.5 million, which works out to an average price of $6.5 million and a median asking price of $6.2 million. The typical home spent 939 days on the market and received a 12 percent discount. 

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Correction: An earlier version of this article said Official’s Tal Alexander had the listing for Unit 37B at 432 Park Avenue. Douglas Elliman’s Marc Palermo and Shari Scharfer Rollins had the listing and Alexander brought the buyer.

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CompassLuxury Real EstateOfficialOlshan Realty