Midtown Manhattan is filled with iconic buildings: the Empire State Building, Grand Central Station and the Rockefeller Plaza all cluster within the 25 prime streets heading south from Central Park.
Now there is a new standout landmark to add to that list: 432 Park Avenue is the tallest residential tower in the western hemisphere, soaring 96 floors and 1,396 feet above 57th Street. The first residents moved in this year, enjoying some of the most exhilarating views of the city that never sleeps.
From its location bang in the middle of Manhattan, homes in the tower provide an unrivalled aspect of New York. On a clear day from the top floors, residents can see for 60 miles - even giving them a view of the curvature of the Earth.
Central Park is to the north, neatly edged with landmark buildings and ruler-straight grand avenues, while the Empire State Building, new Freedom Tower and Statue of Liberty are to the south. On the Hudson and East rivers, boats and cruise ships are clearly visible while helicopters buzz soundlessly, well below the top of the building.
Sky-high and super-sized
432 Park Avenue was designed by Rafael Viñoly, the architect of London’s "walkie talkie" building and who has produced something quite different to New York’s more usual glass-fronted modern skyscrapers. The super-sized square windows and pure, geometric exterior echo Manhattan’s grid system.
There are 106 apartments, starting on the 35th floor and served by two lifts that will deliver penthouse residents to the 96th floor in less than a minute. Most apartments take up half of each floor, a very generous 4,000 square feet.
Interiors are elegant, featuring 12ft 6in ceilings, private lift landings and generous living rooms with uncluttered focus on the windows.
Finishings include pale oak floors, Italian marble and predominantly white kitchens and bathrooms. Two lavishly decorated show apartments by Robert Couturier and Deborah Berke highlight the top-end furnishings that buyers at this level demand.
Facilities shared between the residents include a 75ft swimming pool, extensive gym and spa, a restaurant and private dining room with a Michelin-starred chef and a 5,000sq ft terrace and a library, screening room and billiards room. In all, 40 full-time members of staff will work at 432 Park Avenue.
Richard Wallgren, of co-developers Macklowe Properties, says that 75 per cent of apartments have sold, over half to Americans, but also to buyers from South America, Europe and Asia.
Prices for the remaining homes start from £14.5 million for a three-bedroom apartment on the 36th floor, rising to £36.5 million for four bedrooms on the 80th floor.
“Midtown has become more residential and 432 Park Avenue continues that march south from Central Park,” says Wallgren. “Park Avenue has always been home to affluent people. It resonates with power, success and wealth.”
Welcome to Manhattan's 'Billionaire's Row'
432 Park Avenue is the latest of several super-luxury towers along 57th Street, Manhattan’s so-called Billionaire’s Row, attracting interest from international high-rolling property buyers.
New York is seen as a safe haven for investors and is benefiting from increasing international interest, says Alasdair Pritchard, of Knight Frank, who focuses on the super prime market.
“432 is an iconic building with unrivalled views and we are seeing a diverse range of nationalities choosing to buy there,” he comments.
“Many of my international clients look at New York as an alternative to London. They feel comfortable investing there. Also, compared to prime central London, New York is cheaper and property transfer tax is significantly lower, at one per cent against a top rate of 15 per cent in London.”
For more details, visit: 432 Park Avenue.