Billionaires’ Row Condo May Face Foreclosure After Loan Default
- Unit on 72nd floor of 432 Park Ave. was bought for $30 million
- Owner hasn’t made mortgage payments since March, lawsuit says
432 Park Ave. in New York.
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A condo near the top of one of Manhattan’s most exclusive residential towers may face foreclosure after its unknown owner defaulted on a $13.75 million mortgage.
The firm that owns the debt on the 72nd floor unit at 432 Park Ave. is seeking to take possession of the property, according to a lawsuit filed last week. The owner of the three-bedroom, 4,019-square-foot (373-square-meter) apartment hasn’t made a mortgage payment since March, the suit says.