"The units are at the center of an ownership dispute between Harry Macklowe and CIM Group. Macklowe had lost the condos last year when he defaulted on the mortgages he took out from CIM to buy the units. The developer paid about $47 million for the units along with a smaller pad on the 28th floor, which is not included in the latest sale. Serhant's Glenn Davis and Nicholas Compagnone had the off-market listing. The buyer was 78 Purchaser LLC."
"The seller was Alex Sapir's vSapir Organization, which had purchased the more than 121,000-square-foot, 26-story property in 2015 for $200 million via a foreclosure sale. The latest transaction marks a nearly 40 percent discount. The hotel's new owner is Israel-based Dan Hotels. Sapir placed the 264-key property into Chapter 11 bankruptcy late last year in the hopes of paying down $155 million in Israeli Bond debt."
New York City recorded 197 property transactions totaling $462 million in the 24 hours before Feb. 17, 2026. Two units on the 78th floor at 432 Park Avenue sold for $52.5 million amid an ownership dispute between Harry Macklowe and CIM Group; the developer had paid about $47 million for those units plus a smaller pad on the 28th floor. Serhant agents Glenn Davis and Nicholas Compagnone handled the off-market listing; the buyer was 78 Purchaser LLC. The Nomo Soho Hotel at 9 Crosby Street sold for $121 million to Israel-based Dan Hotels after vSapir Organization acquired it for $200 million in 2015. A 4,800-square-foot condo at 111 West 57th Street sold for $12.3 million, and a Lenox Hill townhouse at 157 East 65th Street sold for $10.7 million.
Read at therealdeal.com
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