The developers couldn’t be reached for comment, but sources familiar with the decision said they realized last year that the triplex was simply too big.
“It was easier to sell a full-floor and a duplex,” said Jeffrey Fields of R New York, who represented the buyer of a $68 million condo at 520 Park that closed last month. “The developers realized it would make sense to create another duplex.”
Although the Zeckendorfs scaled back the penthouse offering, several brokers who’ve done deals in the building said they’re not desperate to sell the top unit. They said multiple buyers have bid on the duplex penthouse — only to be turned down. “They’re not in a rush,” one agent said. “They can wait until the crown jewel of the building is finished and get the highest and best price for the crown jewel.”
Starting last year, a string of wealthy buyers have closed on unit at the Robert A.M. Stern-designed building, which has just 33 units. They include Vacuum cleaner mogul James Dyson, who paid $73.8 million for a 9,000-square-foot penthouse, and billionaire investment banker Ken Moelis (brother of affordable housing developer Ron Moelis), who dropped $62 million for his duplex.
According to Fields, carving up the triplex penthouse made sense given the high demand for duplex units. It also followed the playbook of several developers who scaled back once-grand penthouses to appeal to a wider pool of buyers.
In late 2015, Macklowe Properties and CIM Group reluctantly split several full-floor units at 432 Park Avenu上海龙凤论坛