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	<title>Observer &#187; Another $95 M. Apartment in Manhattan? Yawn.</title>
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		<title>Observer &#187; Another $95 M. Apartment in Manhattan? Yawn.</title>
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		<title>Another $95 M. Apartment in Manhattan? Yawn.</title>

		<comments>http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/#comments</comments>
		<pubDate>Fri, 10 Aug 2012 08:30:38 -0400</pubDate>
					<link>http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=256882</guid>
		<description><![CDATA[<p><div id="attachment_256894" class="wp-caption alignnone" style="width: 610px"><a href="http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/12exclusive_span-articlelarge/" rel="attachment wp-att-256894"><img class="size-full wp-image-256894" title="12EXCLUSIVE_SPAN-articleLarge" src="http://nyoobserver.files.wordpress.com/2012/08/12exclusive_span-articlelarge.jpg" alt="" width="600" height="360" /></a><p class="wp-caption-text">The $95 million view. (Halstead/NYT)</p></div></p>
<p><div id="attachment_256895" class="wp-caption alignleft" style="width: 209px"><a href="http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/dsc_0478/" rel="attachment wp-att-256895"><img class="size-medium wp-image-256895 " title="DSC_0478" src="http://nyoobserver.files.wordpress.com/2012/08/dsc_0478.jpg?w=199" alt="" width="199" height="300" /></a><p class="wp-caption-text">Puttin' on the Ritz. (<a href="http://carlosmeliablog.com/2011/04/09/the-ritz-carlton-central-park-south/">Carlos Melia</a>)</p></div></p>
<p>It's a little embarrassing, really. A day after 15 Central Park West <a href="http://observer.com/2012/08/leroy-schecter-would-like-double-for-combined-15-cpw-unit-may-be-delirious/">announced its $95 million listing</a>, 50 Central Park South had to go and announce that it <a href="http://www.nytimes.com/2012/08/12/realestate/central-park-south-exclusive-the-market-is-speaking-it-says-95-million.html"><em>also </em>had a $95 million listing.</a> And they're even on the same floor (the 35th). But we're sure that the owner at the Ritz-Carlton had been totally planning to list the apartment for, like, months now, so like, whatever 15 Central Park West.</p>
<p>Anyway, the big takeaway  is that there are now two $95 million apartments on the market, in addition to <a href="http://observer.com/2012/07/cityspire-penthouse-would-like-100-million-please/">a $100 million apartment at CitySpire</a>, not to mention the One57 penthouse that sold for somewhere north of $90 million—maybe $95 million!</p>
<p>Because this is the new reality of the trophy property market in Manhattan, as <em>The New York Times,</em> who first reported the listing, claims. Or at least, it is the old reality of really rich people who want to be even richer people and are hoping that slapping a $95 million price tag on their apartment will make it a $95 million apartment.<!--more--></p>
<p>The owner of the duplex penthouse (it spans the 34th and 35th floors) is an anonymous ballroom dancer who loves the Argentine tango, <em>The</em> Times tells us. But certainly the owner—listed on the deed as Abcp LLC.—has another line of work? Like trying to flip houses? He bought the place for $19.95 million back in 2006 and even if he did "promptly put another $7 million into a complete renovation" after buying the condo, that still means he's looking to make a $68 million profit on the sale. The profit alone is more than <a href="http://observer.com/2012/07/putting-on-the-ritz-carlton-can-the-hotel-dominate-luxury-sales-like-it-once-did/">the $50 million that Oaktree Capital's Howard Marks is asking</a> for his swanky unit downstairs.</p>
<p>But we digress... the 5,078-square-foot apartment itself features a 42-foot-long ballroom with ebony-stained wide-plank oak floors, three wood-burning fireplaces and an additional 700-square-feet of private terraces. It is listed with Halstead broker Dianne Weston. Still, even with "heart-stopping views" and a "masterful architectural renovation exudes timeless sophistication," is it worth it?</p>
<p>You can ask. That doesn't mean you will get.</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_256894" class="wp-caption alignnone" style="width: 610px"><a href="http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/12exclusive_span-articlelarge/" rel="attachment wp-att-256894"><img class="size-full wp-image-256894" title="12EXCLUSIVE_SPAN-articleLarge" src="http://nyoobserver.files.wordpress.com/2012/08/12exclusive_span-articlelarge.jpg" alt="" width="600" height="360" /></a><p class="wp-caption-text">The $95 million view. (Halstead/NYT)</p></div></p>
<p><div id="attachment_256895" class="wp-caption alignleft" style="width: 209px"><a href="http://observer.com/2012/08/manhattan-market-gets-another-95-m-listing-yawn/dsc_0478/" rel="attachment wp-att-256895"><img class="size-medium wp-image-256895 " title="DSC_0478" src="http://nyoobserver.files.wordpress.com/2012/08/dsc_0478.jpg?w=199" alt="" width="199" height="300" /></a><p class="wp-caption-text">Puttin' on the Ritz. (<a href="http://carlosmeliablog.com/2011/04/09/the-ritz-carlton-central-park-south/">Carlos Melia</a>)</p></div></p>
<p>It's a little embarrassing, really. A day after 15 Central Park West <a href="http://observer.com/2012/08/leroy-schecter-would-like-double-for-combined-15-cpw-unit-may-be-delirious/">announced its $95 million listing</a>, 50 Central Park South had to go and announce that it <a href="http://www.nytimes.com/2012/08/12/realestate/central-park-south-exclusive-the-market-is-speaking-it-says-95-million.html"><em>also </em>had a $95 million listing.</a> And they're even on the same floor (the 35th). But we're sure that the owner at the Ritz-Carlton had been totally planning to list the apartment for, like, months now, so like, whatever 15 Central Park West.</p>
<p>Anyway, the big takeaway  is that there are now two $95 million apartments on the market, in addition to <a href="http://observer.com/2012/07/cityspire-penthouse-would-like-100-million-please/">a $100 million apartment at CitySpire</a>, not to mention the One57 penthouse that sold for somewhere north of $90 million—maybe $95 million!</p>
<p>Because this is the new reality of the trophy property market in Manhattan, as <em>The New York Times,</em> who first reported the listing, claims. Or at least, it is the old reality of really rich people who want to be even richer people and are hoping that slapping a $95 million price tag on their apartment will make it a $95 million apartment.<!--more--></p>
<p>The owner of the duplex penthouse (it spans the 34th and 35th floors) is an anonymous ballroom dancer who loves the Argentine tango, <em>The</em> Times tells us. But certainly the owner—listed on the deed as Abcp LLC.—has another line of work? Like trying to flip houses? He bought the place for $19.95 million back in 2006 and even if he did "promptly put another $7 million into a complete renovation" after buying the condo, that still means he's looking to make a $68 million profit on the sale. The profit alone is more than <a href="http://observer.com/2012/07/putting-on-the-ritz-carlton-can-the-hotel-dominate-luxury-sales-like-it-once-did/">the $50 million that Oaktree Capital's Howard Marks is asking</a> for his swanky unit downstairs.</p>
<p>But we digress... the 5,078-square-foot apartment itself features a 42-foot-long ballroom with ebony-stained wide-plank oak floors, three wood-burning fireplaces and an additional 700-square-feet of private terraces. It is listed with Halstead broker Dianne Weston. Still, even with "heart-stopping views" and a "masterful architectural renovation exudes timeless sophistication," is it worth it?</p>
<p>You can ask. That doesn't mean you will get.</p>
<p><em>kvelsey@observer.com</em></p>
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