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	<title>Observer &#187; Gold Diggers: Asking $44 M., 15 CPW Pad Is Trying To Double Its Money</title>
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		<title>Observer &#187; Gold Diggers: Asking $44 M., 15 CPW Pad Is Trying To Double Its Money</title>
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		<title>Gold Diggers: Asking $44 M., 15 CPW Pad Is Trying To Double Its Money</title>

		<comments>http://observer.com/2012/09/let-the-gold-rush-continue-asking-44-m-15-cpw-pad-wants-twice-the-price/#comments</comments>
		<pubDate>Fri, 07 Sep 2012 08:55:38 -0400</pubDate>
					<link>http://observer.com/2012/09/let-the-gold-rush-continue-asking-44-m-15-cpw-pad-wants-twice-the-price/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
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		<description><![CDATA[<p>How important is a bathroom to you? Really, really important? How about <strong>$44 million</strong> important? This was the question we kept on asking ourselves as we flicked through the photos of <strong>24A/24B</strong> at <strong>15 Central Park West. </strong>Bathrooms figured heavily into this photo gallery and the 5.5 bathrooms were truly the most stunning thing about the pricey pad.</p>
<p>Besides marble in such abundance that our head was soon swimming, there is a Jacuzzi, media systems and an aroma/chroma-therapy steam shower—a set-up where you can add essential oils to the showerhead, then watch a kind of light show as you shower to regulate your moods.<!--more--></p>
<p>But you know who did know all about these things? The owner, <strong>Neil Witriol, </strong>the retired president of steam bath and shower company <strong>Steamist West. </strong>Naturally, Mr. Witriol thought that such features belonged in his five-bathroom condo, now listed for $44 million with Sotheby's broker <strong>Roberta Golubock. </strong></p>
<p>But apparently, not even the perfect bathroom(s) were enough to keep Mr. Witriol, who apparently decided that it was time to make a splash in the current trophy market by asking more than double what he paid for the units a few years back. Public records show that Mr. Witriol bought 24A, a sponsor unit, for $7.8 million in 2008. Then he bought 24B from his neighbor for $8.8 million in 2010, paying a total of $16.6 million. Although he did do a gut reno to combine the two apartments, according to <em>The Wall Street Journal, </em>which <a href="http://online.wsj.com/article/SB10000872396390444273704577633910026635338.html?mod=slideshow_overlay_mod">also wrote about the sale</a>.</p>
<p>The ask, while ambitious, is at least in the vicinity of what other resales in the building have commanded. Unlike the <a href="http://observer.com/2012/08/leroy-schecter-would-like-double-for-combined-15-cpw-unit-may-be-delirious/">$95 million listing</a> on the 35th floor, which involves the combination of two units purchased for a total of $18.8 million. Even Sandy Weill's spectacular $88 million sale in the building, the benchmark which all other trophies seem to be using these days, was a little less than double the $43.7 million that Mr. Weill paid. And he <em>also</em> did a renovation.</p>
<p>In any event, Mr. Witriol's "captivating tower combination" joins the ranks of listings at the famed building. There's the place on the 32nd floor that <a href="http://observer.com/2012/07/italian-mogul-piofrancesco-borghetti-selling-off-15-cpw-spread/">wants $27.7 million</a>, for example, and a 4th-floor spread that would like <a href="http://observer.com/2012/05/15-cpw-2/"> $26 million</a>. That's a lot of trophies for one building. But at least buyers will really be able to shop around for the best value.</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p>How important is a bathroom to you? Really, really important? How about <strong>$44 million</strong> important? This was the question we kept on asking ourselves as we flicked through the photos of <strong>24A/24B</strong> at <strong>15 Central Park West. </strong>Bathrooms figured heavily into this photo gallery and the 5.5 bathrooms were truly the most stunning thing about the pricey pad.</p>
<p>Besides marble in such abundance that our head was soon swimming, there is a Jacuzzi, media systems and an aroma/chroma-therapy steam shower—a set-up where you can add essential oils to the showerhead, then watch a kind of light show as you shower to regulate your moods.<!--more--></p>
<p>But you know who did know all about these things? The owner, <strong>Neil Witriol, </strong>the retired president of steam bath and shower company <strong>Steamist West. </strong>Naturally, Mr. Witriol thought that such features belonged in his five-bathroom condo, now listed for $44 million with Sotheby's broker <strong>Roberta Golubock. </strong></p>
<p>But apparently, not even the perfect bathroom(s) were enough to keep Mr. Witriol, who apparently decided that it was time to make a splash in the current trophy market by asking more than double what he paid for the units a few years back. Public records show that Mr. Witriol bought 24A, a sponsor unit, for $7.8 million in 2008. Then he bought 24B from his neighbor for $8.8 million in 2010, paying a total of $16.6 million. Although he did do a gut reno to combine the two apartments, according to <em>The Wall Street Journal, </em>which <a href="http://online.wsj.com/article/SB10000872396390444273704577633910026635338.html?mod=slideshow_overlay_mod">also wrote about the sale</a>.</p>
<p>The ask, while ambitious, is at least in the vicinity of what other resales in the building have commanded. Unlike the <a href="http://observer.com/2012/08/leroy-schecter-would-like-double-for-combined-15-cpw-unit-may-be-delirious/">$95 million listing</a> on the 35th floor, which involves the combination of two units purchased for a total of $18.8 million. Even Sandy Weill's spectacular $88 million sale in the building, the benchmark which all other trophies seem to be using these days, was a little less than double the $43.7 million that Mr. Weill paid. And he <em>also</em> did a renovation.</p>
<p>In any event, Mr. Witriol's "captivating tower combination" joins the ranks of listings at the famed building. There's the place on the 32nd floor that <a href="http://observer.com/2012/07/italian-mogul-piofrancesco-borghetti-selling-off-15-cpw-spread/">wants $27.7 million</a>, for example, and a 4th-floor spread that would like <a href="http://observer.com/2012/05/15-cpw-2/"> $26 million</a>. That's a lot of trophies for one building. But at least buyers will really be able to shop around for the best value.</p>
<p><em>kvelsey@observer.com</em></p>
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