The Real Deal New York

15 CPW duplex sells for nearly $15M under ask

Duplex that just traded for $45M was asking $60M

November 25, 2015 02:22PM
By E.B. Solomont


Maybe “asking price” should be redefined as “wishful thinking” price.

A 15 Central Park West duplex just traded for $45 million — a hefty sum, but a massive discount from the condominium’s most recent asking price of $59.5 million.

The apartment, located on the 18th and 19th floors of the Robert A.M. Stern-designed building, first hit the market in July asking $65 million, or nearly $12,000 per square foot. Last month, the price was chopped to $59.5 million, or $10,606 per square foot. Douglas Elliman’s Janice Chang had the listing.

Measuring more than 5,600 square feet with a nearly 400-square-foot terrace, the condo features a wood-burning fireplace and five bedrooms.

The owner, identified in public records as Evergreen 15 CPW, went into contract on Oct. 29 and closed on Nov. 12, paying $8,035 per square foot.

The seller, also unidentified, paid $48 million for the apartment in May 2014, meaning he or she is willing to stomach a $3 million loss to unload the pad. The deal falls in line with what brokers have been saying for months: that there’s a softening at the high end of the market. Recently, a seller at One57 sold a 62nd floor unit for a $2 million loss.

The priciest deal at 15 Central Park West remains Ekaterina Rybolovleva’s $88 million purchase of former Citigroup Chairman Sandy Weill’s 6,744-square-foot home in 2012.