What, you bought a condo at the peak of the bubble, and now you’re wildly underwater? Sorry to hear it.
But your mistake wasn’t buying at the peak of the bubble. It was that you didn’t buy at 15 Central Park West.
NYT: So far this year, as sales stalled across the city, owners of eight of the 201 apartments (there are also 30 staff suites) in the building have sold their units at prices 38 per cent above the original closing prices of August 2007, when the building opened, city property records show. That works out to a cumulative gain of $21.9 million, judging by property records filed through the middle of last week.
Now, brokers say that with the larger Manhattan market no longer in free fall, interest is quickening in the building’s largest and most expensive apartments with the best views. This includes the recent $37 million sale of a 5,276-square-foot four-bedroom penthouse on the 40th floor, with views of Central Park, the Hudson River and the George Washington Bridge.
What’s so great about it?
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