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Fourth echelon

Billionaire buys towering $95M Manhattan condo, report says

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NEW YORK, May 30 (UPI) -- A Saudi real estate magnate is reportedly under contract to purchase the second-most expensive condo in New York City, for the price of $95 million.

The towering unit, located at 432 Park Ave. in Midtown Manhattan -- the tallest residential tower in the Western Hemisphere -- was placed under contract in 2013 but has yet to close, various news media reported.


The buyer is said to be Fawaz Al Hokair, a Saudi real-estate magnate worth a reported $1.37 billion. Developers Macklowe Properties and CIM Group, as they do with all other buyers, declined to confirm Hokair's presence on the contract.

The condo, which sold for $95 million, comes with nearly 8,300 square feet, six bedrooms, seven bathrooms, and quite the view. At 1,396 feet -- just 380 feet shorter than the new One World Trade Center -- 432 Park Avenue boasts Manhattan's highest rooftop.




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