417 Park Avenue

Development
Location: Manhattan,NYC

417 Park Avenue

Klövern AB of Sweden and GDSNY have paid $184 million for all 29 units at a Midtown East co-op building, paving the way for the partnership to take advantage of the neighborhood’s rezoning.

The companies purchased all the apartments in 417 Park Avenue, a 14-story co-op constructed in 1916. The property is located within the 70-plus blocks the city rezoned in 2017, allowing for the address to have an office building with a floor-area ratio of 25, or nearly 220,000 square feet.