IOs – an alternative play on mortgages
WHAT DO SANDY Weill, Lloyd Blankfein and Dan Loeb have in common with a Nascar driver, Sting and a cartoonist? There is a joke in there somewhere, for sure, but the less humorous answer is: they all bought apartments in 15 Central Park West, Manhattan. Known locally as 15 CPW, it is a "place to live graciously in New York". With 210 apartments with views of Central Park, a 14,000 square-foot gym with lap pool, 20-seat cinema, a library, 30 climate-controlled wine rooms, suites for domestic employees, a club floor with a games room, terrace and meeting room, 15 CPW is the most prestigious apartment building in Manhattan, and in the spring the building was finally ready to be lived in. With all sales completed in March last year, 15 of the condos have reportedly already been sold on to second buyers. Some of the building’s most prestigious residents paid as much as $45 million for an apartment.
If there are concerns about the worst residential real estate slump in US history, they are not to be seen at 15 CPW.
