Though it has been abundantly clear that Toll Brothers was planning a condo tower at 1110 Park Avenue for some time—it was, in fact, rumored immediately after mysterious entity 89 Park Avenue LLC closed on the townhouse at 1110 Park Avenue for 10 percent more than the $14.9 million ask. (While townhouse bidding wars are not unheard of, the city was just emerging from the throes of recession and Park Avenue is not exactly an ideal location for a townhouse.) When the same LLC closed on the unlisted townhouse next door—1108 Park Avenue, also for a generous price—the rumor was all but confirmed. By everyone, that is, except for Toll Brothers, which maintained a “no comment” long after the deal to buy the lots had closed and building permits were filed. Read More
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