One other penthouse at 432 Park Avenue has bought for a large resale loss.
A 94th-floor penthouse at Harry Macklowe and CIM Group’s Billionaires’ Row tower bought for $22 million, in response to public data. The belief of scientist and philanthropist Roy. T Eddleman Eddleman purchased Unit 94A for $31.5 million in 2019.
The house was final asking $25.8 million. Serhant’s Marc Riedel, Jordyn Nusynowitz and Christine Calvo had the itemizing. It was first listed in 2024 with Corcoran for $33 million, earlier than the Serhant crew took over the itemizing earlier this yr.
Eddleman, who based life sciences firm Spectrum Labs on the age of 30 and bought it for $359 million in 2017, died in 2022 on the age of 82.
Spanning virtually 4,000 sq. toes, the house has 4 bedrooms, three and a half loos and a library.
The sale is the most recent money-loser for house owners on the supertall after lawsuits over the constructing’s building have cast a years-long shadow.
In 2021, the rental board filed a lawsuit alleging that the 125-unit constructing suffered from noise, points, leaks and damaged elevators. The builders denied these claims, however residents adopted up final yr with another lawsuit claiming Macklowe and CIM have been conscious of the issues and proceeded anyway.
The New York Occasions reported final yr that the constructing’s facade has additionally been cracking, though inspectors have stated the constructing continues to be secure for residents.
In March, Unit 52B bought for $8.7 million. The vendor had paid $9.9 million for the rental in 2016. Final August, one other 54th-floor rental, Unit 52C, bought for $14.7 million after the vendor had bought it for $16.4 million in 2016.
A 2025 evaluation by The Actual Deal discovered that of the 16 models resold from 2021 to 2025, 10 went for a loss. One of many largest drops in sale value got here when billionaire financier Thomas Peterffy bought his 84th-floor unit for $13.6 million, almost 40 % lower than what he purchased it for in 2016.
One of many few houses within the constructing to promote for greater than its proprietor paid beforehand belonged to Macklowe, who turned two 78th-floor models over to CIM Group final yr as a part of a foreclosures process initiated by CIM in 2023. Macklowe had bought the models for $47 million, and so they closed earlier this year for $53 million.
Different houses, like Jose Cuervo proprietor Juan Beckmann Vidal’s Unit 84B, are nonetheless ready to promote. Vidal has reportedly initially thought of promoting the house for $90 million, however listed it at $75 million in January, earlier than dropping the value to $67 million in March, in response to StreetEasy.
Learn extra
The highs and lows of reselling on Billionaires’ Row
Two 432 Park Ave. pads sell for $61M
432 Park pad trades for $26M, supertall’s priciest deal since 2019
