The Real Deal New York

Former Time Warner chief sells CPW apartment for $19.5 million

Sale reported three days after another building unit listed at same price

July 06, 2012 04:00PM
By Katherine Clarke

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N.J. Nicholas Jr. and the interior of his former apartment at 88 Central Park West

A former chief executive of Time Warner Inc. has sold his Central Park West apartment for $19.5 million, according to public records filed with the city today.

N.J. Nicholas Jr. and his wife, Llewellyn, who list their current address as 190 Riverside Drive, first listed the property at 88 Central Park West for sale in January with Kirk Henckels of Stribling & Associates. The deal closed on June 27, records show. The home, which lingered on the market for just 90 days, had been asking $22 million.

Nicholas was named president of Time Inc. in 1986 and served as co-chief executive officer of Time Warner Inc. until February 1992. He currently serves on the board of Boston Scientific Corporation and as lead director at Time Warner.

The identity of the buyer, 88 CPW Revocable Trust, was not immediately clear. The entity lists its address at the white-shoe law firm of Paul, Weiss, Rifkind, Wharton & Garrison.

The 6,000-square-foot apartment has five bedrooms and five-and-a-half bathrooms, according to the listing and features views of Central Park. It is a combination of two apartments on the eighth and ninth floors.

Neither Nicholas nor Henckels was immediately available for comment.

This latest sale is likely music to the ears of another owner listing in the building, which is also home to actor Robert De Niro and was once home to Sting.

A six-bedroom, six-bathroom spread in the exclusive co-op hit the market earlier this week, asking $19.5 million. The home, which is listed with John Burger of Brown Harris Stevens, appears to be owned by Gates, a hedge fund owner, and Richard Moran, The Real Deal previously reported. It is two separate units which could be combined to form a six-bedroom spread.

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