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Tough times at 50 CPS

Started by rvargas
about 19 years ago
Posts: 152
Member since: Nov 2005
(Discussing Sale at 50 Central Park South in Central Park South) Bought it for $21M, wanted to sell it for $35, and after holding it for 2.5 years, could only get $27. According to the NY Post: bq. One of Central Park South's largest apartments has finally sold. bq. Richard McWilliam, a sports trading-card mogul has unloaded his 9,500-square-foot apartment at the Ritz-Carlton for $27 million to investor Frederick Adler. bq. McWilliam first put the five-bedroom, eight-bath apartment with two terraces at 50 CPS on the market for $35 million in October 2005 - after paying just over $20 million for the full-floor condo a year earlier.
Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

So he only made 7 million in 2.5 years..... sweet!

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

It gets even worse.

His common charges and taxes were about $23,000/month, so he's out another $750,000 in the meantime!

That, plus 1-1.5 million brokers fee, carrying costs, tips for all the staff at the Ritz Carlton...

God I hope he at least made 5 million.

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

the horror

and he still he needs to find a place to live

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Response by anonymous
about 19 years ago
Posts: 8501
Member since: Feb 2006

you mean in the other 10 properties he owns dotted throughout the world.

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