432 Park Avenue facts for kids
Quick facts for kids 432 Park Avenue |
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432 Park Avenue in 2021
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| General information | |
| Status | Complete |
| Type | Residential |
| Architectural style | Contemporary |
| Location | 432 Park Avenue Manhattan, New York |
| Country | United States |
| Coordinates | 40°45′42″N 73°58′19″W / 40.76167°N 73.97194°W |
| Construction started |
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| Topped-out | October 10, 2014 |
| Completed | December 23, 2015 |
| Height | |
| Architectural | 1,396 ft (425.5 m) |
| Tip | 1,396 ft (425.5 m) |
| Top floor | 1,286 ft (392.1 m) (occupied) |
| Technical details | |
| Floor count | 85 (+3 below ground) |
| Floor area | 412,637 square feet (38,335 m2) |
| Lifts/elevators | 11 |
| Design and construction | |
| Architect | Rafael Viñoly and SLCE Architects, LLP |
| Developer | CIM Group / Macklowe Properties |
| Structural engineer | WSP Cantor Seinuk |
| Main contractor | Lendlease |
432 Park Avenue is a very tall residential building, called a skyscraper, located in Midtown Manhattan, New York City, U.S. It stands at 432 Park Avenue, near 57th Street. This impressive tower is about 1,396 feet (426 meters) tall.
The building was designed by Rafael Viñoly and developed by CIM Group and Harry B. Macklowe. It is known for having some of the most expensive homes in New York City. When it was finished in 2015, 432 Park Avenue was the third-tallest building in the United States. It was also the tallest residential building in the world at that time.
As of 2025, it is the sixth-tallest building in the United States. It is also the fifth-tallest building in New York City. Globally, it is the third-tallest residential building.
432 Park Avenue has 84 floors above ground, plus a special mezzanine level. Its outside looks like a grid of square windows on a white concrete frame. The building has open spaces every 12 floors. These spaces help wind pass through, making the building more stable. Inside, there are 125 luxury apartments, called condominiums. Residents can enjoy special features like a private restaurant.
The skyscraper has received different opinions. Some people admire its slim design. Others discuss its meaning as a home for very wealthy people.
The building stands where the old Drake Hotel used to be. Getting all the land and money for the project took a long time. Construction plans were approved in 2011, and digging began in 2012. The building was completed in 2015. After it opened, some residents reported problems with the building's systems and structure. These issues led to disagreements and discussions in the 2020s.
Contents
Exploring the Location of 432 Park Avenue
The building is in the busy Midtown Manhattan area of New York City. It sits in the middle of a city block. This block is bordered by 56th Street to the south and 57th Street to the north. Madison Avenue is to the west, and Park Avenue is to the east.
The land for the building is shaped a bit like an "L". The main tower is in the center of this area. Its lower part stretches east along 56th Street to Park Avenue. The main entrance for the building is on 56th Street. Many other tall buildings are nearby, like Park Avenue Tower and the Four Seasons Hotel New York.
The Design of 432 Park Avenue
Rafael Viñoly designed 432 Park Avenue. SLCE Architects helped with the building plans. The inside spaces were designed by Deborah Berke and Bentel & Bentel. Many other companies worked together to build this skyscraper.
Building Shape and Outside Look
432 Park Avenue has 84 main floors and a mezzanine. It also has five special open sections, called windbreaks. These windbreaks are two stories tall and are placed every 12 floors near the top. They are open to the air and help reduce how much the building sways in strong winds. These sections also hold some of the building's important machinery.
The building's top floor is numbered as 96 because of how the mechanical levels are counted. Next to the main tower, there's a small park area. There's also a retail entrance on 56th Street and a four-story office section on 57th Street.
When 432 Park Avenue reached its full height of 1,396 feet (426 meters), it became the tallest building in New York City by roof height. It was the third-tallest by total height, after One World Trade Center and the Empire State Building. The building is so tall that the Federal Aviation Administration (which manages air travel) had to approve its construction.
As of 2025, 432 Park Avenue is the 30th-tallest building in the world. It is the sixth-tallest in the United States and the fifth-tallest in New York City. The building is very slender, meaning it's much taller than it is wide. Its height-to-width ratio is 15:1, making it one of the most slender buildings globally. This tall, thin design has led it to be called a "pencil tower".
The outside of the tower is made of white concrete. Each floor has six square windows on each side. The open windbreak sections have twelve large, unglazed openings on each side. This creates a pattern of 10-foot (3-meter) square openings across the building. The bottom of the building is covered in limestone. The designer, Rafael Viñoly, said the regular grid pattern was inspired by an old trash can design from 1905.
How the Building Stands Strong
The main structure of 432 Park Avenue includes a strong concrete core in the center. This core is 30 feet (9 meters) square and has thick walls. It holds the elevator shafts and other important services. Around the core, there's an outer layer of columns. These columns get narrower as they go up the building.
There are six elevator cabs, including service elevators. To save space, the emergency stairways are designed in a special "scissor-stair" way, where they cross over each other. The distance from the building's core to its outer walls is 27 feet (8.2 meters) on all sides.
Each floor of the tower is square, with sides that are 93 feet (28 meters) long. This gives each floor a usable area of about 8,255 square feet (767 square meters). The height from floor to ceiling on each story is 15 feet 6 inches (4.72 meters). The upper floors have thicker floor slabs. These thicker slabs add more weight, which helps to reduce swaying caused by wind.
Engineers studied how the building would react to wind and earthquakes. They even built a model of Midtown Manhattan to understand the wind forces. The building's foundation has about 60 rock anchors. These anchors go 60 to 70 feet (18 to 21 meters) deep into the ground, making the building very stable. To help with swaying even more, the very top of the tower has two special devices called tuned mass dampers. These dampers are like giant shock absorbers that help keep the building steady in strong winds.
Inside the Apartments and Amenities
The building has 147 apartments in total. There are 122 luxury condominium units with one to six bedrooms, located between floors 34 and 96. There are also 25 smaller studio apartments on floors 28 and 29. The apartments on the very top floors (91 through 96) have unique layouts.
The condominium units have very high ceilings, about 15 feet 6 inches (4.72 meters) tall. The smallest apartment is a 351-square-foot (32.6 square meters) studio. The largest is a huge 8,255-square-foot (767 square meters) apartment on floor 96. This large unit has six bedrooms, seven bathrooms, and its own library. Some windows were designed with thick frames to highlight views of Central Park, but some residents later removed these frames.
The building offers many special features for its residents. These include golf training areas and private dining and movie rooms. On floor 12, there is a large private restaurant with an outdoor terrace. Chef Shaun Hergatt has led this restaurant since 2016. Floors 12 through 16 have a "club unit" with a fitness center. There's also a swimming area with a 75-foot (23-meter) pool, a whirlpool, sauna, and steam room. Residents can also use private meeting rooms and a library.
The Story of 432 Park Avenue
Getting Started: Land and Early Funding Challenges
The land where 432 Park Avenue now stands was once home to the 21-story Drake Hotel. In 2006, Harry Macklowe bought the hotel. He planned to replace the old hotel with a new, tall building.
To make space for the new tower, Macklowe had to buy several other smaller properties nearby. He also had to pay some businesses to end their leases early. For example, he paid a French food company to leave its ground-floor spot sooner. He also bought several jewelry stores on 57th Street. Gathering all these properties and the necessary air rights (permission to build high) was very expensive and complicated. The total cost for the land and rights was over $724 million.
Initially, there were plans for a 65-story tower with shops, offices, a hotel, and apartments. There was even talk of a large department store, Nordstrom, opening its first New York store at the base. However, some property owners refused to sell or demanded very high prices. This made it impossible to get enough space for the large store, and Nordstrom decided to open elsewhere.
During a financial downturn in 2008, Macklowe faced difficulties with his loans for the site. This led to a period where the project was stalled. Many different investors showed interest in the site, but finding the right financing was a big challenge.
New Investment and Construction Begins
In 2010, CIM Group stepped in and bought the development site. They kept Harry Macklowe involved as a partner. This new investment allowed the project to move forward. CIM Group also continued to buy more nearby properties to expand the building site.
There were some minor disagreements with existing tenants during this time. For example, a watch retailer, Franck Muller, had a dispute with the developers over their lease. These issues were eventually resolved.
In early 2011, CIM Group and Macklowe received a mortgage to help fund the project. By May, they had hired Rafael Viñoly to design the new tower. Macklowe described the planned building as "monumental." In October 2011, plans for a 1,300-foot (400-meter) tall apartment tower were revealed.
Excavation for the building's foundation started in early 2012. By March, full plans for the 82-story, 1,397-foot (426-meter) tall building were filed. The city approved the construction permit two months later. By the end of 2012, the building had risen above street level. As construction continued, the prices for apartments in the building were increased several times.
The construction process had a few temporary pauses. In February 2013, work stopped briefly after some damage to a neighboring building. Work resumed quickly, though a worker was injured in a small accident that March. In mid-2013, an extra floor was added to the plans.
Sales for the apartments officially began in March 2013. The developers even created a four-minute film to help market the luxurious homes. This film showed a woman traveling to her new home at 432 Park Avenue, featuring famous artists and landmarks.
432 Park Avenue reached over 1,000 feet (300 meters) in June 2014. The "topping out" ceremony, marking its maximum height, happened on October 10, 2014. The building was almost finished in January 2015 when another construction pause occurred. By early 2016, the building was officially completed on December 23, 2015.
Life After Opening: Retail and Resident Concerns
After the building opened, Macklowe Properties acquired the retail spaces at the base. Several luxury stores moved in. Richard Mille, a boutique watch store, opened in October 2018. Later, the auction house Phillips moved into a large retail space in May 2020. Other businesses like a salon and a perfumery also leased space.
In the 2010s, there were some personal disagreements involving Harry Macklowe that affected some of the apartment sales. For example, a dispute over a condo on the 78th floor was resolved. The building also hosted special events, including an art event in 2018.
Resident Concerns in the 2020s
In early 2021, The New York Times reported on various concerns from residents. For example, a leak on a mechanical floor in 2018 caused two elevators to stop working for several weeks. There were reports of 35 apartments being affected by leaks. Some residents also reported loud "creaking, banging and clicking noises" caused by high winds. Structural engineers noted that these kinds of noises can sometimes affect very tall skyscrapers.
A study ordered by a group of residents found that many parts of the building's mechanical, plumbing, and electrical systems were not built exactly as planned. The general contractor, Lendlease, stated they had informed the developers about these issues. Residents also expressed concerns about the high annual cost of the private restaurant service, which increased significantly. Insurance costs for the building also rose sharply.
Due to these issues, the condominium board (a group representing the residents) raised concerns with the developers in September 2021. An engineer hired by the board found many alleged flaws in the building. Complaints included loud noises from the trash chute and constant vibrations that sometimes made it hard to sleep. In September 2021, the entire building had to be emptied for two days for important electrical system repairs. The developers responded, saying that the safety concerns were "vastly exaggerated." By early 2024, discussions about these issues continued. The New York City Department of Buildings also noted some problems with the building's exterior.
In 2023, there was a financial disagreement between CIM and Macklowe regarding some of Macklowe's units in the building. This issue was settled in 2024. By May 2024, 18 apartments were for sale. The last unsold unit found a buyer in July 2024. In November 2024, a judge denied Macklowe's request to avoid a trial in a dispute with CIM. In April 2025, some residents raised new concerns about cracks in the building's exterior. An October 2025 New York Times article mentioned that the roof damper had been repaired and that fixing all the issues could cost $100 million. Macklowe eventually gave up his apartments in the building to CIM.
Who Lives at 432 Park Avenue?
Even before construction was finished, many people were interested in buying apartments at 432 Park Avenue. By 2013, over a third of the units had buyers. By the end of 2015, nearly 90% of the apartments were sold. Almost half of these were bought by people from other countries. Many buyers were from China, Brazil, and Russia.
Some buyers chose to use company names (called limited liability companies) to purchase their units. This helped them keep their identities private. Some apartments were even put up for sale again without anyone ever having lived in them.
Famous people who have lived in 432 Park Avenue include Jennifer Lopez and Alex Rodriguez. Other wealthy residents include business executives and real estate owners.
Apartment Prices and Sales
In 2016, 81 of the 104 units had been sold. The average price for these apartments was $18.4 million. By 2017, the remaining unsold units were listed for prices between $6.5 million and $82 million.
The first apartment sale was completed in January 2016 for over $18 million. Apartments on higher floors were generally more expensive. For example, two units on floor 91 sold for $60 million in 2018. The highest unit, on floor 96, was first listed for $95 million but sold for $88 million in 2016.
It was expected that all the apartment sales would bring in a total of $3.1 billion, which would be the highest total sales price for any building in New York City. As of February 2021, almost all the units had been sold. After the resident concerns became public in 2021, some apartment owners put their units up for sale, sometimes at a lower price. For instance, the owner of the 96th-floor apartment, Fawaz Alhokair, listed his unit for $169 million in June 2021. By May 2024, he had reduced the asking price to $105 million.
However, some units still sold for high prices even after the issues were known. One unit sold for $70 million in 2022. An analysis in August 2025 showed that most early owners who resold their apartments before the problems were widely known made a profit. In contrast, many owners who resold their apartments between 2021 and 2025 (after the issues were reported) experienced a loss.
See also
In Spanish: 432 Park Avenue para niños
