Kathy Sloane Achieves $30 Million Apartment Sale at 432 Park Avenue

Known in the New York, NY, luxury real estate sphere for her brokerage services, Kathy Sloane has managed more than $1 billion in sales over the course of her career. Among Kathy Sloane’s real estate accomplishments with Brown Harris Stevens in 2016 was representing the buyer of a $30 million half-floor apartment on 432 Park Avenue’s 72nd floor. 

Apartment 72A is in the upper reaches of the 96-story building, which stands as the tallest residential tower in the Western Hemisphere. The aerie has an unparalleled view of Central Park and the Upper East Side, and features an eastern exposure overlooking the East River. The apartment encompasses more than 4,000 square feet and includes three bedrooms and four bathrooms, as well as a library. The monthly carrying costs associated with the apartment are approximately $16,000.

This noteworthy sale accompanied the $27.5 million sale of the adjoining apartment, 72B, which has the same dimensions and features, but enjoys a sunset view across the Hudson River to the west. The late July sale was completed by a colleague of Ms. Sloane at Brown Harris Stevens, with the buyers of both units choosing to remain anonymous.

The Closing with Kathy Sloane

Four Freedoms Park Plays Host to Various Types of Events

As a luxury real estate broker with Brown Harris Stevens, Kathy Sloane has participated in more than $1 billion dollars of sales during her career in New York, NY. Outside of her pursuits in real estate, Kathy Sloane is a trustee of the Franklin D. Roosevelt Four Freedoms Park.

As the first New York-based memorial to recognize Franklin D. Roosevelt, Four Freedoms Park remains dedicated to supporting public work and driving those efforts that support the freedoms of all. Maintained through the Four Freedoms Park Conservatory, this space also serves as a place for several inspired purposes such as events. 

Individuals and groups may arrange to host events at Four Freedoms Park. With its spaces able to accommodate nearly 2,000 people, the park often hosts events for both corporate and nonprofit entities. Whether these organizations are interested in holding large black-tie dinners with 400 guests or casual holiday parties, they must first pay a rental fee that helps to supplement the park’s maintenance and educational efforts.

Four Freedoms Park also frequently serves as a venue for wedding ceremonies. Couples may exchange their vows amidst foliage-lined promenades set before the backdrop of New York City and even host their receptions in the park. For those who wish for a smaller ceremony, Four Freedoms Park can arrange to host their event during its normal daytime hours.

Kathy Sloane Facilitates the Sale of No. 72A at 432 Park Avenue

Wheaton College graduate Kathy Sloane is a real estate broker with the firm Brown Harris Stevens. This past July, Kathy Sloane leveraged her experience as a real estate professional in order to facilitate the sale of one of two twin half-floor apartments in New York City’s West Village.

Located at 432 Park Avenue, apartment No. 72A comprised over 4,000 square feet and took up half of the building’s 72nd floor. The three bedroom, four bathroom floor plan also includes an additional half-bathroom and a library. The sale closed at a price of more than $30 million, topping that week’s list of most expensive real estate transactions, just above its sister unit at No. 72B. Though the two units carry almost identical floorplans and provide views of Central Park, No. 72A’s east-facing location within the building affords owners an impressive view of the East River.

No. 72A’s location within 432 Park Avenue makes it one of a limited number of real estate properties available in the Western Hemisphere’s tallest building. At 1,396 feet, 432 Park Avenue dwarfs even the world-famous Empire State Building, which towers over the majority of the city’s skyscrapers at 1,250 feet.

Bill and Hillary Clinton’s 1990s Purchase of Chappaqua, NY Residence

 

Kathy Sloane maintains a high profile in the New York, NY, real estate sphere and has attained in excess of $1 billion in New York sales over the years. One of her most prominent clients as a real estate agent has been the Clinton family. In the late 1990s, the then First Lady sought out Kathy Sloane’s assistance in helping her secure a residence that her family could comfortably live in following their time in the White House.

Ms. Sloane undertook an extensive search spanning more than 90 properties and seven counties in New York. The search was a complex one, given that not only the Clintons, but also the Secret Service, needed to approve the location. Finally, she found an ideal residence in Chappaqua. The 11-room Dutch Colonial was situated on a leafy cul-de-sac that was chosen partly for reasons of security.

After Hillary Clinton took a look and approved, her husband followed and they were joined by a few dozen members of the press. Bill Clinton quickly found friends in the neighborhood, inviting locals (and their dogs) to chat, and the couple decided to go ahead and purchase the $1.7 million property.

Market Forces Favor Affordable Luxury in New York for 2015-2016

 Kathy Sloane enjoys a great deal of success in the luxury real estate market, where she often represents entertainment industry celebrities and prominent politicians.

An abnormally large buyer pool brought interesting changes to the New York market at the end of 2015. An influx of willing buyers in the one to three-million-dollar range meant smooth sailing for sellers at that price point, but left many would-be buyers empty handed.

The shift in market forces presented a unique opportunity for high-end realty professionals. Agents like Kathy Sloane, who traditionally deal in properties worth tens of millions, saw opportunities to diversify and explore the exploding market for one million dollar apartments.

Open houses brought in 35 or more prospective buyers, and many properties received two or three offers on their first day on the market. Just as encouraging, approximately 40 percent of buyers in the $600,000 to $1 million range paid over the asking price. These recent trends in the affordable luxury market continue to provide ample opportunities for sellers and brokers alike. 

The Sherry-Netherland Penthouse is Back on the Market - $78 Million

In early 2015, Real Estate Agent Kathy Sloane made headlines for selling a penthouse at Fifth Avenue's famed Sherry-Netherland for just shy of $70 million. For the first time, the co-op board permitted a purchase by a foreign buyer, allowing a Chinese buyer to take ownership of the lavish apartment. In October of the same year, Kathy Sloane and Brown Harris Stevens Real Estate placed the property back on the market, this time for a record $86 million, or $9,500 per square foot.

The seller reduced the price to $78 million in June of 2016, reflecting his serious intentions to sell the property. This price point would still make the apartment the most expensive co-op ever sold, beating out the $77.5 million apartment currently owned by Ukrainian billionaire Leonard Blavatnik just up the street.

The penthouse features seven bedrooms, eight bathrooms, and 2,000 square feet of outdoor terrace space. At $78 million, this newly-reduced apartment works out to approximately $8,666 per square foot.