Most Expensive New York Apartment Ever ('Quietly') Listed: $150 M. at 15 CPW
Remember that rumored $90 million listing at 15 Central Park West? It was nothing.
Dolly Lenz, New York City's most gargantuan real estate agent, broke astounding news at Portfolio's Four Seasons get-together this morning: "There are a few apartments on the market at 15 CPW, a new development on Central Park West, asking somewhere between $80 and $125 million--three different apartments--and one quietly on the market at $150 million," she said.
Wowzah. Brokers have already made it known that two condos in the Robert A.M. Stern-designed blockbuster building are being offered at $80 and $90 million, so Ms. Lenz's quote not only means that there's a third apartment on the market in the building for somewhere between $80 and $125 million, but that there's a fourth spread whose owner wants $150 million.
That would be more than any single-family residential property in New York City has ever asked for.
Could the hopeful seller be ex-Citigroup king Sandy Weill? Hedge-fund overlord Dan Loeb? And could a $150 million asking price ever be met? "I think it’s sort of becoming a little bit of Monopoly money," Ms. Lenz said this morning. "You look at the apartments and you say to yourself, ‘Really?’ That’s my opinion."
And yet a $150 million apartment might not be as absurd as it sounds, considering that Donald Trump is selling his Palm Beach estate in a few weeks for $100 million--which, incidentally, Ms. Lenz knows a thing or two about. She hasn't yet answered an e-mail or phone call from The Observer, and her voice mail was full.
The mansion tax alone on this apartment would be greater than the sales-price of most other apartments! Add in the transfer taxes (paid by the seller since this is a resale) and you'll have one happy city-treasurer (not to mention the broker) if this sale goes through.
Yeah, better hurry. Because God knows someone making that much profit on a flip sale couldn't possibly be in a position to pay more taxes. That would be SO unfair!
Yes, Kyle, you nailed it - only the little guy pays taxes. Bye the bye, has anyone actually moved into the building yet? I've seen photos & videos of the units but not a one with even a stick of furniture.
Apartments have closed, so owners can nove in if they want to. But much of the building remains a mess. The driveway is incomplete and the indoor pool is not completed yet. So the owners might be waiting for everything to be finished first.
Thanx for the info. While you're waiting for the building completion, your decorator is in there measuring & ordering so the situation could be a lot worse. Will we be seeing house warmings this autumn or '09, I wonder?
"Because God knows someone making that much profit on a flip sale couldn't possibly be in a position to pay more taxes"
is that the standard? perhaps the tax code should be simple, maybe something like:
individual's tax = taxable income minus $50,000
that seems fair, it will put everyone on a level playing field. oops except for those loopholes in determining taxable income. we better close those up quick.
15 CPW Condo Secretly Listed for $150 MILLION
Most Expensive New York Apartment Ever ('Quietly') Listed: $150 M. at 15 CPW
Remember that rumored $90 million listing at 15 Central Park West? It was nothing.
Dolly Lenz, New York City's most gargantuan real estate agent, broke astounding news at Portfolio's Four Seasons get-together this morning: "There are a few apartments on the market at 15 CPW, a new development on Central Park West, asking somewhere between $80 and $125 million--three different apartments--and one quietly on the market at $150 million," she said.
Wowzah. Brokers have already made it known that two condos in the Robert A.M. Stern-designed blockbuster building are being offered at $80 and $90 million, so Ms. Lenz's quote not only means that there's a third apartment on the market in the building for somewhere between $80 and $125 million, but that there's a fourth spread whose owner wants $150 million.
That would be more than any single-family residential property in New York City has ever asked for.
Could the hopeful seller be ex-Citigroup king Sandy Weill? Hedge-fund overlord Dan Loeb? And could a $150 million asking price ever be met? "I think it’s sort of becoming a little bit of Monopoly money," Ms. Lenz said this morning. "You look at the apartments and you say to yourself, ‘Really?’ That’s my opinion."
And yet a $150 million apartment might not be as absurd as it sounds, considering that Donald Trump is selling his Palm Beach estate in a few weeks for $100 million--which, incidentally, Ms. Lenz knows a thing or two about. She hasn't yet answered an e-mail or phone call from The Observer, and her voice mail was full.
http://www.observer.com/2008/most-expensive-new-york-city-apartment-ever-listed-150-m#comments
So can we officially conclude that the sellers at 15 CPW have completely lost their minds???
"So can we officially conclude that the sellers at 15 CPW have completely lost their minds???"
No, but a buyer at that price certainly needs to be check out.
Until I see the listing, I ain't buying it (especially literally).
Think about what this does publicity wise for all the $5-10M apartments. Don't believe everything you read, seems like PR to me.
I'll take two.
Forget "would be the most expensive" in NYC. I believe this would be the most paid for an apartment anywhere in the history of the world.
The mansion tax alone on this apartment would be greater than the sales-price of most other apartments! Add in the transfer taxes (paid by the seller since this is a resale) and you'll have one happy city-treasurer (not to mention the broker) if this sale goes through.
Happy Birthday, America!
And capital gains tax. Better hurry up and sell the condo now before President Obama raises it from 15% to 28%.
Yeah, better hurry. Because God knows someone making that much profit on a flip sale couldn't possibly be in a position to pay more taxes. That would be SO unfair!
Maybe it is better rent?????????????????
Yes, Kyle, you nailed it - only the little guy pays taxes. Bye the bye, has anyone actually moved into the building yet? I've seen photos & videos of the units but not a one with even a stick of furniture.
Apartments have closed, so owners can nove in if they want to. But much of the building remains a mess. The driveway is incomplete and the indoor pool is not completed yet. So the owners might be waiting for everything to be finished first.
Thanx for the info. While you're waiting for the building completion, your decorator is in there measuring & ordering so the situation could be a lot worse. Will we be seeing house warmings this autumn or '09, I wonder?
"Because God knows someone making that much profit on a flip sale couldn't possibly be in a position to pay more taxes"
is that the standard? perhaps the tax code should be simple, maybe something like:
individual's tax = taxable income minus $50,000
that seems fair, it will put everyone on a level playing field. oops except for those loopholes in determining taxable income. we better close those up quick.
Link to July 22, 2008 Observer article, "The Voodoo Economics of 15 Central Park West: Why the $100 M. Listings Are All in Your Head"
http://www.observer.com/2008/real-estate/voodoo-economics-15-central-park-west-why-100-m-listings-are-all-your-head