The Real Deal New York

Foreclosed 1 CPW penthouse goes for record $33M

March 24, 2010 09:44AM

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The 5,500-square-foot penthouse at 1 Central Park West, sold for $33 million, including closing costs, to financier Taek Jho Low, has taken its spot as the priciest single-unit residential foreclosure sale ever in New York City, the Post reported. Donald Trump purchased the apartment in 1997 for $5 million and flipped it one year later to film producer Vittorio Ceechi Gori for $10.4 million. Gori tried to renovate place, but was foreclosed upon in 2008, with as much as $30 million in debt to lender Fortress Investment Group, plus $62,000 to the condo board and $69,000 in back taxes. The apartment was sold for $18 million at auction last July to a Russian family who wound up famously walking away from their $1.8 million deposit after discovering the high costs of renovation. [Post]

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