Fawaz al-Hokair buys $95 mln penthouse in New York: Report

Fawaz al-Hokair, chairman of the Saudi retail and real estate company, Fawaz al-Hokair Group, has reportedly bought a sky-high $95 million penthouse at Park Avenue, in Macklowe Properties and CIM Group’s luxurious residential building in New York City, the Real Deal magazine revealed, citing sources.

The identity of the buyer was not revealed when both parties first entered a contract in 2013. The 8,255-square-foot penthouse features six bedrooms and seven bathrooms. At such price, the approximate cost of each square foot is $11,500, the magazine added.

When the deal closes, it will be New York City’s second-priciest condo sale ever, after the $100.5 million deal at Extell Development’s One57.