THE CONDO BOOK PROJECT

432 Park Condominium

432 Park Avenue, Manhattan, NY 10022

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Overview

Units
142 residential · 1 parking · 16 commercial
Subway
5 min walk to Lexington Av/59 St 4 5 6 N R W5 Av/53 St E F, 5 min
Developer
CIM Group
Principals
Charles E. Garner II
Common charges
$743–$17,924 a monthSponsor's first-year estimate in Schedule A, July 1, 2015 to June 30, 2016
Offering price
$2892.9 million total $2400.4 million when first offered

The sponsor of record is 56th And Park (NY) Owner, LLC, represented by Kramer Levin Naftalis & Frankel LLP. The offering plan runs 762 pages. The sponsor has filed 28 amendments, the latest in July 2025. The nearest other condo plan on file is Fifth And Fifty-Fifth Condominium Suites, next door.

Plan CD110239 · New · accepted Jul 17, 2012 · AG record ↗

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FigureThis building1One572135 units · 0.5 miaccepted 201153 West 53rd3169 units · 0.3 miaccepted 2015
Average Offering PricePer Apartment$16.06MIn line$21.1M$12.68M

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Unit mix, closings, budgets, finishes and the team, against One57 and 53 West 53rd, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Manhattan plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed93% of the homes in Schedule A137 of 147
Closing prices vs. Schedule A108 homes: $1,903,047,672 at closing against $1,820,183,400 in Schedule A (p. 79, p. 80, p. 81)+4.6%
Closingsfirst and latest recordedDec 22, 2015 – Jul 30, 2026

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 137 closings
HomeRecordedClosing priceSchedule ADifference
35BDec 22, 2015$18,116,903——
39DDec 23, 2015$5,233,794$5,125,000 p. 79+2.1%
55CDec 28, 2015$13,471,137$16,490,000 p. 80−18.3%
38CDec 29, 2015$7,735,785$7,575,000 p. 79+2.1%
50CJan 6, 2016$18,926,920$15,740,000 p. 80+20.2%
48CJan 13, 2016$14,894,650$14,590,000 p. 80+2.1%
49CJan 19, 2016$15,047,388$14,740,000 p. 80+2.1%
51CJan 20, 2016$16,218,375$15,890,000 p. 80+2.1%
53CJan 27, 2016$16,523,850$16,190,000 p. 80+2.1%
51AJan 28, 2016$7,401,514$7,250,000 p. 80+2.1%
56CJan 28, 2016$13,593,327$16,640,000 p. 80−18.3%
52CFeb 9, 2016$16,371,113$16,040,000 p. 80+2.1%
57CFeb 12, 2016$13,715,517$16,790,000 p. 80−18.3%
52AFeb 16, 2016$5,965,782$7,300,000 p. 80−18.3%
50AFeb 18, 2016$7,437,228$7,200,000 p. 80+3.3%
54CFeb 25, 2016$16,676,588$16,340,000 p. 80+2.1%
58CFeb 25, 2016$17,287,538$16,940,000 p. 80+2.1%
48AFeb 26, 2016$7,248,777$7,100,000 p. 80+2.1%
62BFeb 26, 2016$24,073,837$23,600,000 p. 81+2%
53AMar 1, 2016$6,006,512$7,350,000 p. 80−18.3%
49AMar 11, 2016$7,299,689$7,150,000 p. 80+2.1%
28JMar 17, 2016$1,848,487$1,809,000 p. 79+2.2%
65BMar 17, 2016$25,601,212$25,100,000 p. 81+2%
67BMar 18, 2016$26,619,462$26,100,000 p. 81+2%
63BMar 24, 2016$24,582,962$24,100,000 p. 81+2%
71BMar 28, 2016$30,951,145$28,100,000 p. 81+10.1%
67AMar 29, 2016$15,003,613$25,000,000 p. 81−40%
64AMar 31, 2016$44,833,409$23,500,000 p. 81+90.8%
50BApr 1, 2016$9,646,333$9,450,000 p. 80+2.1%
51BApr 5, 2016$7,803,301$9,550,000 p. 80−18.3%
53BApr 12, 2016$7,966,131$9,750,000 p. 80−18.3%
49BApr 18, 2016$9,238,944$9,050,000 p. 80+2.1%
48BApr 19, 2016$7,273,721$8,900,000 p. 80−18.3%
39CApr 20, 2016$7,852,706$7,600,000 p. 79+3.3%
70BApr 25, 2016$28,146,837$27,600,000 p. 81+2%
43AMay 2, 2016$21,060,740——
52BMay 5, 2016$9,849,983$9,650,000 p. 80+2.1%
42AMay 24, 2016$21,430,621$6,650,000 p. 80+222.3%
72BMay 25, 2016$27,507,062$28,600,000 p. 81−3.8%
40AMay 26, 2016$20,870,583$6,575,000 p. 79+217.4%
66AMay 26, 2016$24,990,100$24,500,000 p. 81+2%
79May 26, 2016$59,144,632——
71AMay 27, 2016$28,890,482$27,000,000 p. 81+7%
57AJun 10, 2016$14,425,402$7,550,000 p. 80+91.1%
58AJun 15, 2016$14,588,322$7,600,000 p. 80+92%
RETLJun 20, 2016$411,125,625——
62AJun 22, 2016$18,442,956$22,500,000 p. 81−18%
65AJun 22, 2016$27,042,204$24,000,000 p. 81+12.7%
63AJul 1, 2016$18,851,773$23,000,000 p. 81−18%
73BJul 7, 2016$31,608,725$29,250,000 p. 81+8.1%
44AJul 8, 2016$21,990,658$6,850,000 p. 80+221%
72AJul 15, 2016$30,081,350$27,500,000 p. 81+9.4%
70AAug 2, 2016$31,840,509$26,500,000 p. 81+20.2%
39AAug 12, 2016$18,983,098——
28GAug 18, 2016$1,885,247$1,945,000 p. 79−3.1%
54AAug 18, 2016$14,265,724$7,400,000 p. 80+92.8%
84AAug 25, 2016$21,389,503$20,250,000 p. 81+5.6%
28DAug 29, 2016$1,290,552$1,263,000 p. 79+2.2%
68AAug 31, 2016$28,002,017$25,500,000 p. 81+9.8%
29BSep 7, 2016$1,941,536$1,900,300 p. 79+2.2%
29CSep 7, 2016$1,862,414$1,190,400 p. 79+56.5%
28CSep 8, 2016$1,568,140$1,152,000 p. 79+36.1%
28KSep 8, 2016$1,161,803$1,137,000 p. 79+2.2%
28LSep 8, 2016$1,048,383$1,026,000 p. 79+2.2%
68BSep 8, 2016$27,128,425$26,600,000 p. 81+2%
82ASep 9, 2016$18,572,987$19,150,000 p. 81−3%
96Sep 9, 2016$87,660,898——
28ASep 14, 2016$1,673,733$1,638,000 p. 79+2.2%
28FSep 14, 2016$1,531,483$1,152,000 p. 79+32.9%
81ASep 14, 2016$21,156,843$18,900,000 p. 81+11.9%
77ASep 20, 2016$19,629,468$17,750,000 p. 81+10.6%
80AOct 10, 2016$18,967,711$18,600,000 p. 81+2%
41AOct 13, 2016$21,150,780——
29NOct 17, 2016$1,490,726$1,178,000 p. 79+26.5%
73AOct 17, 2016$30,122,242$28,500,000 p. 81+5.7%
87AOct 17, 2016$32,881,795——
69AOct 27, 2016$30,951,145$26,000,000 p. 81+19%
69BOct 27, 2016$31,466,270$27,100,000 p. 81+16.1%
29MNov 22, 2016$1,321,344$1,088,100 p. 79+21.4%
88Nov 22, 2016$60,893,873$68,000,000 p. 81−10.5%
GARDec 5, 2016$19,653,378——
66BDec 14, 2016$29,042,363$25,600,000 p. 81+13.4%
29JDec 20, 2016$2,942,761$1,869,300 p. 79+57.4%
44CDec 20, 2016$17,137,683$7,950,000 p. 80+115.6%
55ADec 22, 2016$23,874,943$7,450,000 p. 80+220.5%
85Jan 5, 2017$65,661,755$60,600,000 p. 81+8.4%
56AFeb 10, 2017$14,303,393$7,500,000 p. 80+90.7%
83Mar 15, 2017$65,163,580——
37AMar 28, 2017$16,489,758——
84BMay 5, 2017$44,606,623$42,250,000 p. 81+5.6%
86AJun 15, 2017$32,712,458——
29KJun 19, 2017$1,449,983$1,174,900 p. 79+23.4%
18DJul 6, 2017$2,421,088——
43CJul 28, 2017$17,348,622$7,825,000 p. 80+121.7%
29DAug 11, 2017$1,627,216$1,305,100 p. 79+24.7%
81BAug 14, 2017$37,745,776$40,750,000 p. 81−7.4%
38DAug 22, 2017$4,914,989$5,100,000 p. 79−3.6%
80BSep 18, 2017$39,337,141$40,250,000 p. 81−2.3%
29ANov 15, 2017$1,713,233$1,692,600 p. 79+1.2%
42CNov 15, 2017$14,907,383$7,750,000 p. 80+92.4%
35ADec 7, 2017$15,622,191——
92Dec 18, 2017$91,125,497$64,850,000 p. 81+40.5%
29PDec 21, 2017$1,865,210$1,844,500 p. 79+1.1%
29LDec 29, 2017$1,316,791$1,088,100 p. 79+21%
91Dec 29, 2017$60,083,577$64,100,000 p. 81−6.3%
91BDec 29, 2017$60,083,577——
36AFeb 20, 2018$15,316,716$6,450,000 p. 79+137.5%
94BMar 1, 2018$32,422,270——
28EJul 17, 2018$1,322,639$1,263,000 p. 79+4.7%
93Jul 17, 2018$30,798,330$65,600,000 p. 81−53.1%
40COct 31, 2018$15,074,335$7,625,000 p. 79+97.7%
38ANov 9, 2018$15,443,814$6,535,000 p. 79+136.3%
41CDec 3, 2018$15,073,646$7,700,000 p. 80+95.8%
87BDec 27, 2018$29,513,458——
95BDec 27, 2018$30,191,920——
95Jan 29, 2019$30,691,657$82,550,000 p. 81−62.8%
19AFeb 20, 2019$5,779,000——
19BFeb 20, 2019$5,779,000——
19CFeb 20, 2019$5,779,000——
19DFeb 20, 2019$5,779,000——
59CApr 2, 2019$16,939,575$17,250,000 p. 80−1.8%
86BJun 21, 2019$29,543,233——
94Jun 21, 2019$31,501,890$66,350,000 p. 81−52.5%
59AJun 25, 2019$14,995,803$7,850,000 p. 80+91%
28MJun 19, 2020$237,451$3,918,000 p. 79−93.9%
CLUBJun 19, 2020$38,789——
28BSep 24, 2020$1,606,461$1,839,000 p. 79−12.6%
34Jan 6, 2021$19,768,295——
28HMay 9, 2022$514,868$1,605,000 p. 79−67.9%
78AMay 9, 2022$14,691,061$18,000,000 p. 81−18.4%
78BMay 9, 2022$31,990,505$39,200,000 p. 81−18.4%
20CNov 15, 2023$450,000——
36BNov 15, 2023$12,593,070$6,400,000 p. 79+96.8%
37BJun 4, 2024$11,293,071——
29EOct 22, 2024$3,021,035$1,305,100 p. 79+131.5%
18CJan 13, 2026$450,000——
94AJul 30, 2026$22,000,000——

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
56th And Park (NY) Owner, LLC
Developer
CIM Group
Principals
Charles E. Garner II
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
Istar Cp Investment FundLender on the mortgage and building loan agreement recorded November 2011 in ACRIS; $170 million recorded

From our research: Do NYC Developers Rehire the Same Firms?

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