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Penthouse Losses on Billionaires Row | Real Estate News
Another penthouse at the iconic 432 Park Avenue just sold for a whopping $22 million — a $9 million loss since it was bought in 2019. This isn’t an isolated case: ten out of sixteen recently resold units in the tower are now underwater, with some dropping nearly 40% from their original prices. The building’s legal battles over noise, leaks, and elevator issues, plus structural concerns like facade cracking, may be driving down values. Even Roy T. Eddleman, the late scientist and billionaire who founded a life sciences company worth $359 million, couldn’t escape the market’s downturn — his…
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