Sale at 15 Central Park West #9G, flip gone sour?

$6,771,362, on 6/25/2008. Contract was from 11/30/2005.

The $5M balloon mortgage falls due on 7/1/2009....

wow, so they have 6 months to find a bigger moron

Here is is!!!!!!
The first apartment Ive seen at 15 CPW now asking less than the initial closing price.
Well that prediction didnt take long to come through

that's got to be a mistake

NWT,

where'd ya find the balloon mtg info? ACRIS? I can't get ACRIS to work today.

I find it weird that a balloon payment comes due 1 yr after purchase. Guess that's the type of hanky panky that went on.

ACRIS, block 1114, lot 1354.

The bank giveth and the bank taketh away.

I have no idea what the correct price might be, but those overlapping listings do look weird.

Thanks, NWT. I'm doing something wrong, can't get it. Whatever. But, was it common for a mgt /balloon payment to come due 1 yr after purchase, or is this a 15 CPW quirk?

Oof.

This was the original pre-construction sale price. It is currently on the market for $9,995,000. http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=1315533

Corcoran's also trying to sell it as part of a combo: http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1350047.

Re: the balloon mortgage, don't know how common they were/are. Just happened to read this one more closely than usual.

NO balloons in NYC... gotz that!

I believe the word is curdled. :)