Former Citi head lists 15 CPW home for $88M

November 10, 2011 10:03AM

From left: Former Citigroup Chairman and CEO Sanford Weill and 15 CPW
Former Citigroup Chairman and CEO Sanford Weill is putting his 15 Central Park West penthouse on the market for $88 million, more than twice what he paid for it in 2007, the Wall Street Journal reported. Weill and his wife plan to donate the proceeds to charity and downsize to a sixth-floor apartment they own in the building.

The Weills paid $43.7 million for the 6,744-square-foot apartment in 2007, or more than $6,400 per square foot, then a record for price paid per square foot. The current price per square foot record holder is another penthouse in the building, which William Zeckendorf sold for $40 million, or $9,940 per square foot, in December 2010, according to the Journal. If the apartment sells near its asking price, the Journal said it would set a Manhattan price record. The apartment, which also has a 2,077-square-foot terrace, is in the smaller of the two structures that comprise 15 CPW and is being marketed by Kyle Blackmon of Brown Harris Stevens.

The Journal quoted brokers and appraisers who say a record-breaking sale is possible, considering the demand for that building, the relative strength of the ultra luxury market and the fact that the top three sales per square foot in Manhattan have all occurred in the building. [WSJ]