Exclusive | NYC Billionaires Row tower where its raining chunks of concrete losing value fast: Its too dangerous

As drones circle the 1,396-foot tower and repair work begins at 432 Park Avenue, the 94th floor skypad at the beleaguered building has sold for $22 million, Gimme Shelter has learned — a stunning comedown from its original $33 million ask two years ago, and a $3.75 million gut-punch from the $25.75 million price it went into contract at earlier this month.The seller is a trust linked to the late teen science prodigy turned philanthropist Roy T.Eddleman, founder of Spectrum Labs, who paid $31.5 million for the half-floor spread in 2019.

He died in 2022 at age 82.“The $22 million closing is lower than anyone wanted, but a half floor in the building hasn’t sold since 2024.This is the new market reality,” listing broker Marc Riedel of Serhant told The Post, who shares the listing with Serhant’s Jordyn Nusynowitz.One broker familiar with the sale said a hit like that barely stings for an owner in that tax bracket.

“You write it off, move on and make more money,” the broker said.“There are lots of bad deals.

At least here you get the joy of living in the building.” Jennifer Lopez and Alex Rodriguez once counted among the glamorous residents at 432 Park.While sale prices at 432 Park keep sliding, rents are doing the opposite — a split brokers describe as the building’s Jekyll-and-Hyde reality.A certain buyer no longer wants in, but a certain renter still wants the address, repairs and all.The same 94th floor unit had a signed lease with a renter willing to pay $85,000 a month — a building record for a half-floor unit — before a buyer swooped in and signed a purchase contract first, bumping the renter out.That set off a chain reaction.

Unit 66A, also asking $85,000 a month, ultimately rented for over $90,000.Another unit, 72A, then rented for $85,000.

Both 66A and 94A are 4,000-square-foot, half-floor layouts with three bedrooms, three and a half baths and a library.“I knew I could get $85,000 for 94A, but I didn’t foresee others following...