432 Park Avenue Launches Official Sales Campaign with Over One Third of Residences Under Contract

432 Park Avenue Launches Official Sales Campaign with Over One Third of Residences Under Contract

Tower to Become Tallest Residential Building in the Western Hemisphere

NEW YORK--(BUSINESS WIRE)-- CIM Group and Macklowe Properties announced today the launch of the residential condominium sales campaign for 432 Park Avenue and the opening of the sales and marketing center located at 767 Fifth Avenue.  The much-anticipated project has been quietly marketing units for sale and over one third of the residences are under contract. With an expected completion in 2015, the extraordinarily graceful 1,396-foot tower, designed by Rafael Viñoly, will become the tallest building in New York City and the tallest residential tower in the Western Hemisphere.

A rendering of 432 Park Avenue. ©dbox for CIM Group & Macklowe Properties (Photo: Business Wire)

A rendering of 432 Park Avenue. ©dbox for CIM Group & Macklowe Properties (Photo: Business Wire)

Located on Park Avenue between 56thand 57thStreet, 432 Park Avenue is surrounded by world-renowned retailers offering the best of fashion, art and design.  The slim and elegant square tower will ascend 96 stories and is being constructed using architectural concrete, steel, and glass.  All windows measure an expansive 10 feet by 10 feet, flooding residences with abundant natural light and providing spectacular views of Central Park, the Hudson and East Rivers, Atlantic Ocean, and many iconic Manhattan buildings and avenues.    

In the tradition of New York City's finest apartment houses and hotels, residents will enjoy 30,000 square feet of amenities including a private restaurant, outdoor garden for dining and events, spa and fitness center with sauna, steam and massage rooms, 75-foot swimming pool, library, lounge, billiards room, screening room and performance venue, children's playroom, and boardroom.  In-suite catering, concierge, 24-hour doorman, and valet parking services will be provided by the building's handpicked staff.

Residences include private elevator landings, separate service entrances, eat-in kitchens, windowed his-and-her bathrooms and large master suites with adjoining dressing rooms.  Interior finishes include 12.5-foot finished ceilings, solid oak flooring, custom hardware, and the highest quality natural materials.  Kitchens feature custom cabinetry, Miele stainless steel appliances, Dornbracht fixtures, and marble countertops and flooring.  Master bathrooms are fitted in book-matched slabs of Italian statuario marble and contain freestanding soaking tubs, custom vanity units and radiant-heated floors.  Residents will also have the exclusive ability to purchase climate-controlled wine cellars, office suites, staff apartments, and storage facilities as a complement to their residence.

"432 Park Avenue is quickly becoming one of New York City's most prestigious addresses and a worthy addition to its unparalleled skyline," Avi Shemesh, CIM Co-Founder and Principal, commented.  "Our experience in developing large transformative urban projects made 432 Park Avenue a natural fit with our investment philosophy and management style.  We are confident that we are creating tremendous value for residents, our investors, and New York City."

"432 Park Avenue is an extraordinary site that demands an exceptional building with design and materials that will stand the test of time.  The building has been designed for, and discreetly marketed to, a sophisticated audience that expects that every detail and finish is carefully considered and of the finest quality," Harry Macklowe commented.  "We are delighted that this high level of attention that our team has spent on every aspect of the project has been recognized by exceptional levels of interest from a wide array of prominent New Yorkers as well as national and international purchasers."

For more information, visit www.432parkavenue.com.


CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains U.S. regional offices in New York City, the San Francisco Bay Area and the Washington, D.C. Metropolitan Area.  For more information, visitwww.cimgroup.com. Media contact for CIM Group: Bill Mendel, Mendel Communications, +1 212-397-1030, bill@mendelcommunications.com 


Macklowe Properties was founded in New York City nearly 50 years ago by Harry Macklowe. The company's developments have totaled over 10 million square feet including: Metropolitan Tower, Worldwide Plaza, the General Motors Building and the flagship Apple Store in the GM Building's Fifth Avenue Plaza, known for its signature 32' glass cube that is included on the American Institute of Architects' list of America's favorite architectural structures. For more information, visitwww.mackloweproperties.com .

M18 Public Relations
Michael Tavani, (212) 604-0318

KEYWORDS:   United States  North America  New York


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