15 Central Park West

December 20, 2011 by staff 

15 Central Park West15 Central Park West, Just when you thought prices at 15 Central Park West, one of the most talked about New York City luxury properties, couldn’t go any higher, the ex-CEO of Citibank, Sandy Weill, recently listed his pehuse* at 15 CPW for $88 million, or $13,048 per square foot. According to recent reports, it looks like he found a buyer – only after 3 weeks and at a record-breaking price, no doubt!

To date, the record sale in the building was for a pehuse* owned by William Zeckendorf, one of the building’s developers, which sold for $10 million (or almost $10,000 per square foot) in December 2010, only one year ago. Even for Manhattan Luxury Real Estate, these prices were quite steep.

The huge success story known as 15 CPW has had a short but storied history. Sitting on the site of the old Mayflower Hotel, directly on Central Park toward its Southwest corner, 15 CPW is comprised of two limestone buildings – the house and the tower. Designed by starchitect Robert A.M. Stern, the building’s design pays homage to the stately buildings that line Central Park West, Fifth Avenue and Park Avenue – taking the best features from these classic buildings and adding modern conveniences.

The power elite have chosen 15 Central Park West as their temple of sorts. Building residents include names like Denzel Washington, Sting, Norman Lear, Bob Costas, Jeff Gordon (of NASCAR fame), Lloyd Blankfein (Goldman CEO), Daniel Loeb, Scott Bommer and Daniel Och (top hedge funders), and Zhang Xin and Pan Shiyi (the CEO and Chairman of SOHO China, the largest real estate developer in Beijing). In addition, there are other heads of industry, financial titans, and celebrities living there. Back in 2009, the New York Post estimated the combined net worth of the buildings’ residents to be close to $50 billion. We wouldn’t be surprised if that number has grown significantly by now!

The building has 201 apartments that range from 1 bedroom to 8 bedroom homes. In 2007, the building launched with prices close to an average of $2,500 per sq. ft.; however, those prices quickly jumped to around $4,500 per sq. ft. today, according to Streeteasy. Throughout the recession, prices at 15 Central Park West kept rising.

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