Macklowe Properties may be better known, at this point, for its skyscrapers (namely the skyline-altering 432 Park Avenue) but the company’s real estate portfolio isn’t all überpricey high-rises—it also has überpricey slightly-less-high-rises, too.
Take, for example, 737 Park Avenue, a pre-war co-op building on the corner of East 71st Street. Macklowe bought in 2011 with the intention of turning it into condos, and since that conversion got underway, a number of ridiculously expensive apartments have popped up for sale—most notably, of course, its $40 million penthouse (which ended up selling for slightly less than that). Now we can add another blockbuster to that list: a five-bedroom apartment on the 12th floor just hit the market asking $25 million.
Of course, this isn’t the first time this particular unit has been up for grabs: It was first listed back in 2013, along with the building’s other condos, with a $27 million price tag. It’s since gotten a price chop and a brokerage switch (from Corcoran to Sotheby’s), and is trying again after more than a year off the market.
So what does $25 million get you? Unfortunately the photos that accompany the listing are virtually staged, but you can still get a feel for the place: It has “102 feet of Park Avenue frontage,” per the listing, and more than 6,000 square feet total. The apartments are meant to be large and family-friendly, and this place fits the bill, with plenty of bedrooms (each of which has an en-suite bathroom), a large living room, and tons of storage space.
Still, is that worth $25 million? You be the judge.
- Listing: 737 Park Avenue #12A [Sotheby’s]