If imitation is the sincerest form of flattery, then 15 Central Park West should be feeling extremely flattered these days.
Architect Robert A.M. Stern designed the building, which was constructed in 2008, and developers have wanted more of the same from him ever since, according to Bloomberg. There are now five similar Stern projects underway in Manhattan at 20 East End Avenue, 250 West 81st Street, 30 Park Place, 520 Park Avenue and 220 Central Park South.
Developers are attracted to the modern designs of units at 15 CPW and the fact that it is a condominium building, meaning anyone who can afford to move in can do so without worrying about the whims and restrictions of the city’s co-op boards.
The building set a record in 2007 when former Citigroup chairman Sanford Weill paid more than $6,400 per square foot for his $43.7 million penthouse, and celebrities including Robert De Niro, Alex Rodriguez and Sting have lived there. Sting recently sold his unit in the building for $50 million.
“Fifteen Central Park West changed real estate,” Olshan Realty Inc. president Donna Olshan told Bloomberg. “All of a sudden it became extremely cool and elitist to live in that building, and it set the tone for condominiums that came after.” [Bloomberg] – Eddie Small