Resale prices at 15 Central Park West reach new heights

In January 2010, the closing of Unit 25 at 15 Central Park West marked the highest resale gain in this famed Upper West Side limestone building. The unit sold for $13,700,000 in January 2010 but was initially purchased for $5,990,000 in December 2007, an increase of 129%.

15 Central Park West

32 units have changed hands, some more than once, since they were first on the market in 2007. All but one resold for a higher price. The average resale increase was a whopping 63%, with 5 units (#25D, #26B, #38A, #24F,#29C) resold for more than twice the initial price paid for them.

13 units have resold for a price difference of over $5,000,000. A premium of $16,765,000 was paid in December 2009 for a combo sale (#PH43 & #S805) over their combined July 2008 closing price. The second highest price difference was $15,500,000 for a penthouse that sold for $37 million in September 2009 after it had been bought for $21.5 million in April 2008.  NY Observer has more on the story.

Active listings show that owners of 15 Central Park West apartments still expect this level of large price increases.  The increase in asking price ranges between 45% for unit 12H, to 130%, for unit 28B.

Unit 12 at 15 CPW Source: Brown Harris Stevens

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