15 Central Park West

Can you post listings which demonstrate this?

I got the information from the Street Easy Updates. The 13 Million dollar apartment was now slashed under 11 Million, The Apartment in the house section in the front was cut, and a combo was just cut also. There was some flips for good profit in the early part of the year, but seems to have slowed way up recentley. Lots more lately showing for rent with pricing on those dropped also.

Great building, Just market I dont think will spare anyplace if this bad financial news continues...

More cuts at 15 CPW this week. Even this Premier building getting chopped and has inventory building. Lots of financial guys bought there early. Time will tell.

any links? I'm not sure where to look.

Sorry guys, but the housing crash at 15 CPW is all in your heads:

A Butler’s Lordly Quarters

Now, at a time when $50 million listings are barely newsworthy, city property records show that a 412-square-foot studio, intended for a maid, nanny, butler or even guest of a building resident, on the seventh floor of 15 Central Park West, has sold for $1.2 million, or $2,913 a square foot. It faces the interior courtyard.

According to the records, the staff studio was sold by Brian France, the chairman of Nascar, the stock car racing organization based in Daytona Beach, Fla., on the same day in early September that he also sold a 3,176-square-foot apartment on the 34th floor for $18.8 million.

Mr. France bought both units in June, and made a tidy profit. He paid $780,000 for the studio, and sold it for $420,000 more, for a gain of 54 percent. He paid $10.6 million for the three-bedroom and sold it for a gain of $8.2 million, or 77 percent.

Mr. Makker is an investor who until a few years ago was an equities portfolio manager at the Citadel Investment Group, until recently a hugely profitable hedge fund; his wife, Vicky, is a physician.

They bought a 2,000-square-foot apartment on the 56th floor of the south tower at the Time Warner Center for $6.4 million in June 2007, and sold it a year later for $8.425 million. That sale took place three months after they closed on a 2,761-square-foot three-bedroom on the 28th floor at 15 Central Park West for $13.3 million last March. Three months later, they bought on the 34th floor, which is a bit larger and has more expansive views.

A listing by Joanna Cutler, an independent broker, shows that the Makkers’ 28th-floor apartment, which had an asking price of $16.9 million, is now in contract.

http://www.nytimes.com/2008/10/12/realestate/12deal1.html?_r=1&ref=realestate&oref=slogin

"early September"... wouldn't that be before the panic?

Any chance we will see foreclosures at 15 CPW? If that happens, that is when we will know that the poop has truly hit the fan.

In the neighborhood.... 30% price chop on CPW

http://curbed.com/archives/2008/10/13/morning_massacre_prof_plum_in_the_library_with_a_pricechopper.php

Here's a link to a price cut at 15 CPW. While this is in a range multiples above where I am looking, I think it's intetesting to see a price cut. Maybe the upper - upper rich are not as insulated as we think.

http://www.streeteasy.com/nyc/sale/346417-condo-15-central-park-west-lincoln-square-new-york

I really don't understand this thinking about 15 CPW and other high end buildings in this and other threads. We're clearly in a market downturn, rich people know it, they don't like to pay more for things then they have to either.

15 CPW is probably the most overpriced condo building in U.S. history. It's still a nice building, but $8K/square feet is just insane.