THE CONDO BOOK PROJECT

Fifteen Central Park West Condominium

15 Central Park West, Manhattan, NY 10023

Overview

Units
220 residential
Subway
2 min walk to 59 St-Columbus Circle 1 A B C D57 St-7 Av N Q R W, 7 min
Developers
Zeckendorf Development, LLC, Whitehall Street Global Real Estate Limited Partnership 2001
Principals
Samuel Kellner, Wendy Mosler, William Lie Zeckendorf, Justin Metz
Offering price
$1733.9 million total

The sponsor of record is W2001z/15 Cpw Realty, LLC, represented by Starr Associates LLP. The offering plan runs 518 pages. The sponsor has filed 30 amendments, the latest in September 2011. The nearest other condo plan on file is 30 Lincoln Plaza Condominium, next door.

Plan CD050193 · New · accepted Sep 8, 2005 · AG record ↗

Compare

FigureThis building1Rushmore2289 units · 0.6 miaccepted 2006Plaza Hotel - Condominiums3181 units · 0.5 miaccepted 2006
Average Offering PricePer Apartment$7.88MHighest$2.73M$2.41M

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Unit mix, closings, budgets, finishes and the team, against Rushmore and Plaza Hotel - Condominiums, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Manhattan plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
W2001z/15 Cpw Realty, LLC
Developers
Zeckendorf Development, LLC, Whitehall Street Global Real Estate Limited Partnership 2001
Principals
Samuel Kellner, Wendy Mosler, William Lie Zeckendorf, Justin Metz
Tax estimate
Jerome Haims Realty Inc.Prepared the first-year real estate tax projection
Construction lender
Eurohypo AGLender on the mortgage and building loan agreement recorded August 2005 in ACRIS; $754.6 million recorded

From our research: Do NYC Developers Rehire the Same Firms?

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