15 CPW Penthouse - 41% Price Chop

"The play here is clear: buy both and use the savings to build a skybridge over Central Park."

LMAO.

the 810 5th apartment is an absolute travesty. 2 huge dressing areas and 2 huge bathrooms accessible through the master bedroom? that apartment needs to be gutted to create a halfway coherent layout. if h really needs the money he should cut it to $12 million and see if anyone crawls out of the woodwork.

as for the 15 cpw penthouse, i still think he might be able to get his initial 21 million for it. but maybe not.

At 810 5th, the peak sale for a comparable apartment was $25 million for the 10th floor in 2007. Does anyone think the high end market is going to justify a higher price for basically the same apartment right now?

810 seems odd. It looks to me like 3,500sqft. Call it $1,800 per =$6,300,000. Unless it is a duplex, I keep reloading the floor plan, but only one floor shows up.

patient,

it's not a duplex, but it is a pretty exceptional building. i mean, if the market completely collapses a price like that might be possible, but there are a few stages between here and there. try it out at $12 million and you might find a new price. or you might not, in which case we can revisit 6.3.

This a classic disconnect in my mind. I wouldn't live in that neighborhood for "almost any price. I just don't get living in/near tourist areas. 15 CPW, time warner, Plaza. Anything south of 70th st on either side of the park, pass

patient,

the fact that you wouldn't live there isn't really the point. i wouldn't live about 14th street (or at least i don't want to). i wouldn't live in brooklyn heights. i wouldn't live in dubai. i wouldn't live in new construction. and that's completely irrelevant. if you rule out the 60s on either side of the park and tourist areas, i assume that means central park west near the museum of natural history, 5th avenue near the met. you've basically ruled out the most coveted parts of uptown. you should be moving to the village.

HR: from your keypad to God's ears. Two children in Uptown schools, no can do. I love CPW 70-84

CPW is certainly a tourist area in the area around the museum, and of course the park is crawling with tourists all the time. just pointing out that while you may not like 5th avenue in the 60s (i don't either, really) you can't dismiss it simply because of the tourists.

Agreed...

"This a classic disconnect in my mind. I wouldn't live in that neighborhood for "almost any price. I just don't get living in/near tourist areas. 15 CPW, time warner, Plaza. Anything south of 70th st on either side of the park, pass"

Personally, I agree with you. I think the low 60s are all mall territory on the West Side... and even 15CPW has a BEST BUY!

That being said, the market has spoken and this is "the" building. I figure the location is high enough for folks looking to live on UWS, low enough to get those folks who want to be walking from midtown, plus the hype and the developer to match... not to mention great timing (not for developers, who could have gotten more $$$ later, but for the hype/price increases after closings).

Lets also not forget that TWC was in HUGE demand and had some of the former $$$ records.

You don't need EVERYONE to want to live there, only a critical mass of folks with an extra $20 million (or a loan they can't pay back).

Unit 2I is very negotiable....has anyone seen it?