15 Central Park West sellers try $13M markup

TRD New York /
Apr.April 21, 2011 08:41 AM

Another day, another stunning 15 Central Park West resale attempt.

On the 37th floor of the Zeckendorf brothers’ limestone masterpiece, the owners of a 2,761-square-foot, three-bedroom spread are angling for a roughly $13 million profit on their original purchase price.

The $23.95 million asking price for the unit, which belongs to William Lawrence, founder of Meridian Capital Partners, and his wife, Gloria, and which popped up on the resale market yesterday, places it squarely in the building’s top tier, though it is hardly setting records. There are currently four units on the market that are priced higher, and until recently, a unit just over twice the size of the Lawrences’ was listed for $55 million. It was pulled from the market for renovations, and may return with a price hike when the project is complete, its broker told The Real Deal last month.

But nonetheless, a 124 percent markup (the Lawrences’ paid just under $10.7 million for the apartment in 2008) is nothing to sneeze at, and is one of the most ambitious resale attempts in the past year at one of the city’s most celebrated condominiums.

In March, unit 26C, which had been purchased in 2008 for around $7.13 million, closed for $16.5 million. It had been listed for $16.995 million, a 138 percent markup. And William Zeckendorf’s penthouse sold in December for $40 million, nearly four times what he paid for it when the building was in pre-sale mode in 2005. But for the most part, units at the building have been selling at double — not triple — digit percentage hikes above their sponsor sale prices.

According to the listing for unit 37C, by Brown Harris Stevens brokers Richard Wallgren and Paula Del Nunzio, the six-room home underwent a “complete renovation” by “an acclaimed designer” under the Lawrences’ direction, which, in theory, accounts for the adjustment in price. (Wallgren and Del Nunzio did not respond to requests for comment, and the Lawrences were not immediately available for comment).

The unit has views of Central Park to the East and the Hudson River to the West, a living room with 11-foot ceilings, a 20-foot library and a guest suite, in addition to an eat-in kitchen and a master bedroom overlooking Lincoln Center with walk-in closets and an en suite marble bathroom.


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