Saudi Retail Magnate Lists NYC Penthouse For $225 Million
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Saudi Retail Magnate Lists NYC Penthouse For $225 Million

Fawaz Al Hokair is planning to list the 96th floor condo for nearly twice what he paid for it in 2016.

By Katherine Clarke
Tue, Jun 29, 2021Grey Clock 2 min

Saudi retail and real-estate magnate Fawaz Al Hokair is planning to list his penthouse at 432 Park Avenue—one of New York City’s most luxurious condominiums—for as much as US$170 million (A$225 million), according to three people familiar with the situation.

That price point is nearly twice what Mr. Al Hokair paid for the property in 2016. If it sells for close to that sum, the property would be among the most expensive ever sold in the country.

The news coincides with an overall uptick in the city’s luxury market, which was decimated by the Covid-19 crisis but has rebounded significantly. Two condos at nearby 220 Central Park South recently sold for a combined US$157.5 million in one of the priciest residential real-estate sales in the city.

Mr. Al Hokair’s apartment, which is on the building’s 96th floor, is over 8,000 square feet and has six bedrooms, according to an offering plan for the building filed with the New York Attorney General’s office. Marketing materials show a lavish home with panoramic views of the city and decked out in designer finishes. A chandelier hangs over a custom onyx dining room table, and a sculptural grand piano sits by the window. There is also a library. The property is dotted with accessories from designers like Hermès, Louis Vuitton and Bentley.

Real-estate agent Ryan Serhant of Serhant has been tapped to market the home. He declined to comment on the seller’s reasons for listing.

Developed by Macklowe Properties and CIM Group, 432 Park Avenue is one of the most notable additions to the New York skyline in recent years. Until recently the slimline tower was the tallest residential building in the Western Hemisphere. (It was beaten out by Extell Development’s nearby Central Park Tower.)

Notable residents of 432 Park Avenue have included Jennifer Lopez and her ex-boyfriend, the former Yankee slugger Alex Rodriguez.

The developers of the building have said that issues of leaks and elevator malfunctions at the building recently documented by the New York Times are being addressed.

Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: June 28. 2021.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au