Is Park Avenue Losing Its Prestige?

transfers 834fifthave1v Is Park Avenue Losing Its Prestige?

834 Fifth Avenue

The numbers are in! In the steep and longstanding real estate rivalry between Fifth and Park Avenues, there is a clear winner, DNAinfo reports. While Park Avenue may boast gilded grandaddy coops like 740 and 1050, it costs more money to live on Fifth Avenue, the most recent statistics show.

The median price for a Fifth Avenue pad is $2.83 million, while the median price on Park Avenue is a paltry $2.55 million. But the outlook isn’t all bad for Park.

Park Avenue, however, has more going for it in terms of the number of sales. The fancy stretch saw 230 sales this year compared to Fifth Avenue’s 133.

Between the combating avenues, the most expensive sale on this year was at fabled edifice 834 Fifth, when Leslie Wexner’s place sold for $34 million. In comparison, the Fischbachs’ $27 million sale to William Zekendorf at 740 was the largest on Park.

Both sales, however, went scurrying back to their coops, tails between legs, in the face of Dmitry Rybolovlev’s $88 million purchase at 15 CPW, the building that seems to defy market logic.

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