The Real Deal New York

Is 15 CPW’s heyday over?

December 07, 2012 09:30AM

Despite the stratospheric sales prices at 15 Central Park West over the last few years — the most obvious being Sandy Weill’s $88 million record-obliterating sale — some observers say that the previous numbers were inflated and that sales prices at the building are due to slump, the Wall Street Journal reported.

In 2012 only five apartments at the building, where celebrities of all sorts, from Denzel Washington to Daniel Loeb reside, have sold. Last year, that number was 17 last year and 15 in 2010, according to data from residential brokerage Brown Harris Stevens.

But with competition rising in the area — One57 and 432 Park Avenue, to name a few — the heyday of 15 Central Park West may be over. As The Real Deal reported in this month’s issue, some brokers say that the building is losing its luster with new luxury developments now in the mix.

Developer William Zeckendorf disagrees. “I think the building is frankly so much better than what’s out there,” he told the Journal. “I think the prices should be higher.” [WSJ] –Guelda Voien