15 CPW | Central Park West

Please Contact Sales Broker If You Wish To

Buy or Sell a 15 Central Park West Condo

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Joe Ciulla, Principal Broker

Tel: 212-481-7769
jc@nouvorealty.com

Member Real Estate Board of New York

Nouvo Realty is a licensed NYC real estate broker

15 CPW | Central Park West Condos For Sale:

Perhaps the most desirable address in Manhattan, 15 Central Park West represents the
ultimate in luxury condominium living in an understated, serene environment of
architectural beauty and grace that is at once modern and nostalgic.

For those who eschew today's typical new glass curtain-wall buildings, 15 Central West is
constructed of limestone and combines a classic pre-war esthetic with state-of-the-art
modern construction. Ninety percent of the condo apartments have direct Central Park
views, ceiling heights of 10 to 14 feet, large windows and wood-burning fireplaces. And
many of the condos for sale have corner living rooms with double exposures.

15 CPW has 40 full-time staff members, a private dining room with a full-time professional
chef for up to 60 guests, room service, parking garage, screening room, business center,
game room with billiards, full-time maid and maintenance services, individual temperature-
controlled wine cellars, bicycle storage rooms, private storage units and a 13,500-square-
foot fitness center with a 75-foot swimming pool with a glass ceiling illuminated by the
reflecting pool in the courtyard garden above.

The twin-towered 15 Central Park West condominium occupies the full-block site between
Central Park West and Broadway and 61st and 62nd Streets in New York City. The two
towers are connected at their base. On 61st Street, vehicles can enter a cobble-stoned
turnaround driveway or "motor court" with motorized sliding gates.

The 20-story structure fronting on Central Park West is known as "The House" and the
higher 43-story mid-block structure is known as "The Tower." The magnificent, two-story
"House" lobby has massive marble columns, English Oak paneling and two large
fireplaces. The rear "Tower" lobby is accessed through an enclosed copper-clad glass
entrance pavilion that connects the two structures.

The 15 CPW condominium project, completed in 2007, designed by award winning

architect and New York City historian Robert A. M. Stern and built by Zeckendorf
Development, consists of 201 apartments plus 30 "suites" that residents may purchase for
their guests or personal staff, or for use as home offices.

In 2004, the full block property between Central Park West and Broadway and 61st and
62nd. Streets that was to become 15 CPW, was acquired by a group of investors lead by
the Zeckendorfs, the Whitehall Fund of Goldman Sachs and a company controlled by
Israeli developer, Eyal Ofer. It was reported that the Zeckendorfs and their partners
purchased the property for $401 million. The western part of the parcel along Broadway
had been a vacant lot for years and the eastern was occupied by the Mayflower Hotel.

15 CPW is superbly located opposite Central Park, just north and adjacent to the Trump
International Hotel and condominium, across 62nd Street from the Century, a deco-style
luxury apartment building, and only a block away from the iconic, twin-towered Time
Warner Center on Columbus Circle. And, it is just a few blocks south of Lincoln Center For
The Performing Arts.

15 Central Park West quickly attracted a who's who of diverse, wealthy condo buyers
including Wall Street traders, brokers and hedge-fund managers, finance and banking
magnates, movie and media moguls, sports stars and Hollywood celebrities. Sandy Weill,
the former Citigroup C.E.O., purchased a full-floor penthouse in the front section or "The
House”; Lloyd Blankfein, C.E.O. of Goldman Sachs, which had provided financing for the
project, bought a large corner duplex; several other Goldman executives also bought
apartments for themselves and Daniel Loeb, hedge-fund executive, purchased a large
penthouse at the top of The Tower with a 700-square-foot terrace. Notable celebrity buyers
include Sting, Madonna, Denzel Washington, sportscaster Bob Costas and screenwriter /
producer Norman Lear.

Condo closings began in August of 2007, with the greatest bulk occurring that winter. Initial
prices ranged from as low as $690,000 for a staff apartment to over $40 million. The entire
project sold out for around $2 billion dollars.

In 2008, at least one penthouse sold for $45 million. And in late 2009, the sale of a 5,276
square-foot penthouse on the 40th floor for $37 million - over $7,000 a square foot, made it
one of the most expensive condominium sales on record in Manhattan. 15 CPW continues
to have some of the most expensive condos for sale in the city.

Despite paying a high premium for 15 CPW apartments, many condo buyers have doubled
their money upon resale at record-high prices. For example, apartment 35D, a 3,176-
square-foot unit purchased in January 2008 for $11.62 million, sold on Oct. 8, 2009 for
$21.5 million.

A significantly large number of Goldman Sachs employees bought condominium units in

the building. The investment quality of these purchases cannot be overstated and the
demand amongst new buyers willing to pay "whatever it takes" appears to be never
ending. Although its stellar location is often cited as a major part of its desirability, it is the
gracious and serene lifestyle at 15 CPW that provides its special appeal.