Saudi Billionaire To List NYC Apartment For $170 Million, Among Most Expensive In US

The penthouse of one of New York City’s most luxurious condominiums could sell for a staggering $170 million — an amount that would make it one of the most expensive properties ever sold in the country.

This is the asking price Saudi retail and real-estate tycoon Fawaz Al Hokair reportedly plans to list his 432 Park Avenue penthouse for, the Wall Street Journal reported. In 2016, he purchased the apartment for $87.6 million, and at the time, it was the fourth priciest single-residence property in the city, according to The New York Times.

The 96th-floor condo is a massive 8,000-square-foot property that boasts six bedrooms, seven bathrooms and panoramic views of the city, the Wall Street Journal reported, citing an offering plan for the building filed with the New York Attorney General's office.

The property also comes with a library, designer finishes, a beautiful chandelier hanging over a custom onyx dining room table and a sculptural grand piano, the report said.

Aside from Al Hokair, 432 Park Avenue also boasts famous residents such as Jennifer Lopez and her former fiancé Alex Rodriguez, according to Forbes.

Despite being one of the wealthiest addresses in the world, however, design issues were allegedly observed in the luxury high-rise, including faulty elevators, excessive swaying during windy days, flooding and noisy sounds, The New York Times previously reported.

Al Hokair was worth $1.7 billion at one point, according to a 2017 Forbes estimate. However, he has since been removed from the outlet's list of billionaires because of a lack of clarity regarding his assets.

His removal from the list came after the Saudi government detained about 200 businessmen and royals in the Ritz-Carlton hotel Riyadh on suspicion of corruption in November 2017, Forbes noted. However, it is unclear whether Al Hokair was among the individuals detained.

News of Al Hokair’s plan to put his condo up for sale comes as the luxury market of New York City slowly makes a comeback following the COVID-19 pandemic.

Two units at 220 Central Park South, a condominium not far from 432 Park Avenue, recently fetched a total of $157.5 million, making this one of the most expensive residential real estate sales in the city, the Wall Street Journal reported.