A billion dollar baby
By Braden Keil
January 14, 2006
IT’S hard to believe that Manhattan’s residential real-estate market is slowing down, with sales at 15 CPW just surpassing the billion-dollar mark.
“We’ve sold just over 100 apartments [out of 202] for just over $1 billion,” said Arthur Zeckendorf, the co-chairman of Terra Holdings, which is developing the Robert A.M. Stern-designed building at 15 Central Park West. “Fourteen of those apartments were over $20 million.”
Zeckendorf and his brother William Lie Zeckendorf, another co-chair at Terra, say they’re looking forward to selling another billion’s worth with the remaining residences, which would be a record for a single condo building.
Helping that sales figure along was the $45 million apartment sale to hedge-fund heavy Daniel Loeb.
Construction is on target, now up to the eighth floor on the first tower, and the limestone used on the complex’s facade should be arriving next month.
Among the units that are still available is a $43 million apartment on the 20th floor. The price has just been raised to $45 million.
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