RealEstatePriceCuts

A Deep Discount At 15 Central Park West

Filed under: Estates

More signs of real estate reality at Manhattan's pricey 15 Central Park West. The building which once spawned an $80 million listing has been coming back to earth of late. The NY Times reports that the 18th and 19th floor duplex at 15 Central Park West owned by Richard O. Ullman is now listed with a deep price cut that is being kept hush hush. The apartment which was quietly listed for $75 million is now listed with superagent Dolly Lenz for a secret price said to be around $55 million. It would still be a good deal for Ullman who is said to have spent around $23.5 million on the unit.

The terraced penthouse comprises around 5,600 square feet of living space including four bedrooms and 6.5 marble bathrooms. The listing pics show treetop views over Central Park. It is listed at "price available upon request" but I think we can trust the NY Times on this one. The listing does show fees of $6,600 plus $2,000 in taxes per month. In the NYT article another broker says that the apartment was once quietly shopped around for as high as $90 million. Listings in the building do finally seem to be selling, not usually for their optimistic first list price but more often after a few months on the market and a couple of dips into more realistic territory meaning that some people who bought in during the days of real estate exuberance may have a bitter pill to swallow.

Gallery: Deep Discount at 15 Central Park West