New York City's Tallest Residential Tower Set To Open

First 432 Park Avenue residents to begin closing on apartments & new on-site sales center to launch this month

Nov 13, 2015, 16:53 ET from Macklowe Properties and CIM Group

NEW YORK, Nov. 13, 2015 /PRNewswire/ -- 432 Park Avenue announced today that it has obtained a Temporary Certificate of Occupancy (TCO), enabling the building's first residents to begin closings on their new homes in the coming weeks.  In addition, the TCO allows for the opening of the project's new on-site sales and marketing center, which will launch later this month.  These two events mark major milestones for the soaring luxury condominium developed by CIM Group and Macklowe Properties, which topped out at 1,396 feet approximately one year ago.

The new 432 Park Avenue sales and marketing center will complement the recently-completed half-floor model residence designed by Deborah Berke, which provides a first glimpse inside a spectacular finished home, giving potential buyers the full experience of 432 Park Avenue living.  CIM Group, Macklowe Properties, and Douglas Elliman Development Marketing's longstanding plans were to relocate the sales and marketing center on site once the TCO was obtained, and the three organizations will continue in their successful collaboration.  Douglas Elliman has served as consultant to the project since pre-development and, along with Macklowe Properties, has been co-exclusive sales and marketing agent since 2014.  Douglas Elliman will manage and staff the center, and it will be overseen by CIM Group and Macklowe Properties.

In advance of 432 Park Avenue's first residents moving in, the majority of the building's staff has been hired and is undergoing training in order to provide residents with an extraordinary level of service appropriate for one the world's finest properties.  Additionally, now that the project has received a TCO, select inventory at 432 Park Avenue will be available for immediate occupancy. Available listings range from $16.95 million to $76.5 million.

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CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure.  Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, and Dallas. For more information, please visit

Macklowe Properties was founded in New York City nearly 50 years ago by Harry Macklowe. The company's developments have totalled over 13 million square feet including: Metropolitan Tower, Worldwide Plaza, the General Motors Building and the flagship Apple Store in the GM Building's Fifth Avenue Plaza, known for its signature 32' glass cube that is included on the American Institute of Architect's list of America's favorite architectural structures. For more information, visit

Douglas Elliman Development Marketing, a branch of Douglas Elliman Real Estate, offers unmatched sales, leasing and marketing expertise for properties throughout New York City, Long Island, Westchester the Hamptons, Los Angeles, South Florida as well as throughout the United States and internationally. The firm ranks amongst New York City's most prominent sales and marketing firms. Drawing upon decades of experience and market-specific knowledge, the Elliman team offers a multidisciplinary approach that encompasses every aspect of real estate including comprehensive in-house research, product development, marketing and sales, operations, property management, and mortgage financing. Through a strategic global alliance with Knight Frank Residential, the world's largest privately owned property consultancy, the company markets properties to global audiences in 55 countries across six continents.

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SOURCE Macklowe Properties and CIM Group