junho 14, 2024

Discounts are great, but despite a hefty one, Saudi retail and real-estate tycoon’s 8,000-square-foot penthouse overlooking Central Park seems out of reach. The tycoon initially listed the palatial Manhattan penthouse in July 2021 for $170 million, only to realize the hopes were as high as the penthouse and delisted it in May 2022. Now the exclusive home is back on the market with a whopping 20 percent markdown, albeit still pricey! The property owned by Fawaz Al Hokair is undoubtedly spectacular, a lofty penthouse at 432 Park Avenue on the 96th floor of the 1,396-foot-tall building.

A $39 million discount sounds too good to miss; however, even after the discount the six-bedroom pad had a price of $130 million. The Saudi businessman purchased the high-end residential property for $87.7 million in 2016. Interestingly, Tal Alexander of Official Partners, who represents this listing, told the Journal the house has never been lived in. Surprisingly, Al Hokair never once spent a night inside the Billionaires’ Row condo to enjoy its altitude and amenities.

Billionaires Row has no shortage of wealthy tycoons waiting to invest at a fair price. Listing agent Tai Alexander shared that Hokair was reluctant but ‘did the right thing’ by cutting the penthouse’s cost to meet the market.

Fawaz Al Hokair

The same has been the address of famous residents like Jennifer Lopez and Alex Rodriguez. The $130 million penthouse boasts its own private library, six bedrooms with 12.5-foot ceilings, a master bedroom with a sitting room, and a dressing room.

The house is a stone throw away from the famed fifth avenue. 432 Park Avenue boasts a full-time concierge, 24-hour doorman, valet parking, and a private, covered entryway where vehicles can discreetly drop off residents and guests. The cherry on the cake is undoubtedly the uninterrupted views of Manhattan, including the Empire State Building.

[All images via 432 Park Avenue and are used for representation only]

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