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Chinese Buyer Snaps up Second Manhattan Trophy Apartment

He’s paid $83 million for two residences—at 15 Central Park West and 432 Park Avenue—in the last three months

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A limited liability company associated with Gongwen Dong purchased 86A at 432 Park Ave. for $32.71 million.

DBOX
A limited liability company associated with Gongwen Dong purchased 86A at 432 Park Ave. for $32.71 million.
DBOX

A limited liability company linked to a top executive for a Chinese real estate developer has purchased an apartment at 432 Park Avenue for nearly  $33 million, just three months after he bought a $50 million trophy home at 15 Central Park West.

Unit 86A at 432 Park went into contract in May and closed on June 15 for $32.71 million, public records show. It first came on the market in December for $38 million. The sale price represents a 14% discount.

The buyer, Sandis Holdings LLC, is associated with Gongwen Dong, chief financial officer of Radiance Property Holdings Ltd., part of the Radiance Group, which invests, develops and manages real estate across China.

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The 4,028-square-foot apartment, featuring soaring ceilings and expansive square windows with Central Park views has three bedrooms, four-and-a-half bathrooms and a library, according to the listing with Douglas Elliman.

This is the second trophy property Mr. Dong snapped up last quarter. In May, he apparently used another limited liability company, Senza Nome LLC, to buy a penthouse at 15 Central Park West for $50.55 million. The contract was signed in March, per public records.

Interestingly, Mr. Dong negotiated a 14% discount for the penthouse. The apartment, last owned by Bob Diamond, former CEO of Barclays PLC, was listed for $58 million last December.

The 5,300-square-foot penthouse on tony Central Park West includes four bedrooms, five full bathrooms and one half bathroom, a 34-foot entry gallery, a library and a chef’s eat-in-kitchen. It boasts views of  the Manhattan skyline, Central Park, the Hudson River, Lincoln Center and the George Washington Bridge, according to the listing with Douglas Elliman.

Both of the limited companies share the same address as a property Mr. Dong bought in Great Neck, New York in 2014. They are also repped by the same attorney, who didn’t immediately respond to a request for confirmation.

Mr. Dong, who served as a top executive for Citigroup Global Markets Asia Limited before joining the Radiance Group, couldn’t be immediately reached for comment.

Listing agents for both properties declined to comment.

The Real Deal first reported the purchases.