Big Deal: Selling Park Avenue Condos at $250,000 a Minute

(The New York Times)  Harry B. Macklowe flew an Emmy-award-winning film crew to southern England, hired the famed tightrope walker Philippe Petit and bought the song rights to a Mama Cass classic, all for a four-minute movie to market his latest condominium development.

For years now, developers seeking to sell their condominiums have produced videos, typically featuring interviews with architects and designers, and rarely costing more than $100,000. But to make the movie for 432 Park Avenue — the luxury condominium that will reign as the tallest residential building in the Western Hemisphere when completed in 2015 — Mr. Macklowe spent more than $1 million. The price tag, which comes to $250,000 a minute, or more than $4,000 a second, raises eyebrows even in a city where the average condo costs $2 million.      

Part of a film promoting 432 Park Avenue was shot at Silvercup Studios, including a scene the highwire artist Philippe Petit. Credit: Gustav Liliequist

Source: http://www.nytimes.com/2013/06/23/realesta...