Ryan Serhant, the listing agent, did not respond to requests for comment. Alhokair bought the penthouse for $87.7 million in 2016. “There’s no precedent set for that,” he said. Jonathan Adelsberg, one of the attorneys for the tower’s condo board, said in a statement that, despite the ongoing lawsuit, the board is taking steps to protect resale values. “ some buyers who might want to wait out the lawsuit, but in my humble opinion I think they’re going to have to pay a higher price down the road.”

“You’re going to have a bit of everything,” he said. He’s also the listing agent for two other units, and said that while buyers have questions about the lawsuit, he’s seen different reactions. “The building is going to benefit from this.”Īlexander handled last month’s $26 million deal, the priciest closing in the building in two years. “The reality is it will take some time, but I’m hopeful that the sponsor will make a deal with the board and when they do, the building is going to get an influx of cash,” he said. Still, the suit was “something that had to happen,” he said, adding that he believes the dispute will only improve life in the building in the long run. One person with knowledge said 432 Park remains desirable, particularly among those in finance.īut, perhaps most importantly, insiders say the board’s descriptions of plumbing and mechanical issues and creaking noises sound worse on paper than they really are.ĭouglas Elliman broker Tal Alexander, a resident in the building who has handled multiple deals there, said many of the issues detailed in the board’s lawsuit were “made out to be a much bigger deal and taken way out of context.” Annual service fees related to the restaurant alone have ballooned from $1,200 in 2015 to $15,000 this year, according to the condo board’s lawsuit. The draws, agents say, include amenities ranging from personal concierge services and room service to a 75-foot swimming pool and fitness center managed by celebrity trainer Jay Wright’s wellness company, a private restaurant led by Michelin-starred chef Shaun Hergatt and valet parking. As one agent put it: “So far, people buying paying very high rents don’t give a damn. Both units that closed since February went for more than their owners paid for them.

The life supertall creaks breaks