facebook
Traded Co logo
Submit
Daily limit: 0/10

Arthur Zeckendorf & William Zeckendorf Sell Condo At 520 Park Avenue For $79 Million

Property Image
SOLD
$79,000,000

New York

See Similar Deals
Condo8,300 SF
Sold 11/21/2024
the dealplayerscompscontact
Property Image
SOLD

Arthur Zeckendorf & William Zeckendorf Sell Condo At 520 Park Avenue For $79 Million

520 Park Avenue

See Similar Deals
Condo8,300 SF
Sold 11/21/2024
Contact now

Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$9,518
Total Square Footage:8,300 SF
Transaction Type:Sale

The condo at 520 Park Avenue has a sale price of $79 million and encompasses 8,300 square feet. It is located in the Lenox Hill market, representing a significant transaction within the luxury residential sector.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $79,000,000
  • Sale Price: $79,000,000
  • Square Footage: 8,300
  • Price Per Square Foot: $9,518
  • Address: 520 Park Avenue
  • Market: Lenox Hill
  • Seller: Arthur Zeckendorf & William Zeckendorf - Zeckendorf Development
  • Buyer's Representative: Louis Buckworth & Hannah Bomze - Casa Blanca

This transaction features Arthur Zeckendorf and William Zeckendorf as sellers, representing Zeckendorf Development. The deal is noteworthy as it marks the final sponsor sale in the building, which has achieved a total of $1.05 billion in sales across 35 residences. The undisclosed buyer will join notable neighbors, including the founder of Dyson.

Players

3 deals$139.8M volume
BROKER

Details

SOLD
IMAGE: Louis Buckworth, William Zeckendorf, Arthur Zeckendorf & Hannah Bomze DATE: 11/21/2024 ADDRESS: 520 Park Avenue MARKET: Lenox Hill ASSET TYPE: Condo SELLER: Arthur Zeckendorf & William Zeckendorf - Zeckendorf Development BROKERS: Louis Buckworth & Hannah Bomze (@HannahBomze) - Casa Blanca (@CasaBlancaLiving) SALE PRICE: $79,000,000 SF: 8,300 ~ PPSF: $9,518 NOTE: The duplex penthouse at 520 Park Avenue sold for $79 million in an all-cash deal, marking the final sponsor sale (a.k.a. a unit that has never been sold before) in the building, which has generated $1.05 billion in sales across 35 residences. The undisclosed buyer will be neighbors with the founder of Dyson, who purchased a penthouse for around $74 million.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,213,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$280,670.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$374,500.30
Annual Debt Service$4,494,003.65