The Recession-Proof 15 Central Park West New York

The apartments overlooking Central Park have managed to remain unaffected by the nose-diving luxury real estate market. The New York Times reported that eight of the 201 apartments at 15 Central Park have sold their units at 38 percent above their original closing prices of august 2007, according to city property records. Manhattan’s largest and most expensive apartments with views of Central Park, the Hudson River, and the George Washington Bridge have had a cumulative gain of $21.9 million.

The recent sale of a 5,276-sqaure-foot  four bedroom penthouse on the 40th floor for $37 million makes it one of the top 10 most expensive condos ever traded in Manhattan and the third largest sale in 15 Central Park West. Without taking into account even larger units, this price works out to be more than $7,000 a square foot.

Via: NY Times, The Real Deal