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New York, New York - If you've seen it - at this point just from the outside as construction enters its final phase - 432 Park Avenue is an absolute beauty. The luxury condominium masterpiece developed by RE development guru Harry Macklowe, is set to become the tallest building in the Western Hemisphere, offering beautifully designed apartments complimented by sensational views.

To call such luxury one's home, one must also be willing to pay the asking price. And surely enough, one has. In particular, apartment 71A of 432 Park has been officially been sold at $28,890,481 million. The apartment, standing at 915 feet above ground level, features three bedrooms, four bathrooms, and 10x10 windows. Oh, and it also has a library, which at anyone's guess can be used for a variety of other reasons.

Another apartment in the building, 42A, which features four bedrooms but no library, sold at $21,430,620 million, which translates into $17,622 monthly. Another New York City luxury condominium development, "Greenwich Lane," just sold its penthouse for nearly $20 million ($19,123,685).

Although the demand for luxury apartments in NYC has slowed down recently, the prices have not. In buildings such as "Greenwich Lane," which features less inventory than the likes of 432 Park Avenue, it is only a matter of time before it is all filled up.


Cerco Funding LLC is a New York-based real estate private equity firm. Cerco acts as a direct portfolio lender originating commercial bridge loans nationwide. Cerco has extended capital for acquisitions, refinancings, repositionings, and a host of special situations.

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