450 Park Sale Closes for Record Per-Foot Price

The sale of 450 Park Avenue has closed for $509 million, according city records. The final sale price means that

The sale of 450 Park Avenue has closed for $509 million, according city records. The final sale price means that Somerset Partners bought the 325,000-square-foot Class A office building for just over $1,566 a square foot–a per-foot amount that Bloomberg News has called a U.S. record. Taconic Investment Partners was the seller.

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The Observer broke the news of the deal in July.

450 Park Sale Closes for Record Per-Foot Price