"Billionaires' Row Condo Sold at Loss as Market Continues to Struggle in NYC Real Estate"
"Another high-end condo in NYC's Billionaires' Row sells at a loss, showcasing the current struggles in the city's real estate market."
On Friday, Aug. 29, New York City saw a total of 218 real estate transactions, amounting to $302 million. The priciest sale of the day was a resale at 432 Park Avenue, located in the famed Billionaires' Row neighborhood.
The seller, an LLC managed by Biana Dudler, sold the 52nd floor condo for $14.7 million to another LLC. However, this sale marks a loss for the seller, who purchased the unit in 2016 for $16.4 million. This trend of selling at a loss highlights the current struggles in the high-end real estate market in NYC.
The condo, spanning 3,600 square feet, was priced at just under $4,100 per square foot. This is significantly lower than the average price per square foot in the Billionaires' Row neighborhood, further emphasizing the challenges facing the luxury market.
While the buyer of this particular unit remains anonymous, the overall market in NYC has seen a decrease in foreign buyers due to strict regulations and the uncertainty surrounding the global economy.
As the city heads into Labor Day weekend, this sale serves as a reminder of the current state of the real estate market in NYC and the struggles faced by developers and sellers in the luxury sector.
https://therealdeal.com/new-york/2025/08/30/new-york-top-real-estate-deals-friday-aug-29-2025/