Zeckendorf pays $10M at 15 CPW
July 29, 2008 09:17AM By Adam Pincus
Arthur Zeckendorf
One of the developers of 15 Central Park West, Arthur Zeckendorf, purchased a 4,589-square-foot apartment in the trophy complex for $10.5 million.
The tenth-floor unit has four bedrooms and views facing east, north and west.
The developer got a better deal than tool retailer Robert Glickman, chief executive officer of Harbor Freight Tools, who paid $19.5 million for an apartment about the same size, 4,563 square feet, on the same floor.
Zeckendorf, who went into contract in November, 2005, closed on the sale July 15, according to city records posted today.
He also took out a $4 million mortgage on the sale, records showed.
Zeckendorf developed 15 CPW with his brother William, who also reportedly bought a unit in the building.
Richard Wallgren, director of sales at Zeckendorf Development, also bought a condo there. He paid $1.78 million for a 1,084-square-foot one-bedroom.
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Comments
Anonymous
It's normal for the developer of a project to get the reduced friends and family rate. Steve Ross of Related paid $1 for his $30M apartment in the Time Warner Center right next door to 15CPW. Like the TWC this project has seen tremendous success, so the sponsors felt it was okay for Art to get a nice discount. It's a lot more justified than the $29,999,999 discount Ross received.
Comment #1 Posted By: Anonymous 07/29/08