Steel magnate’s plan: merge two 15 CPW condos, sell for $95 million

BuzzBuzzHome BlogAugust 09, 2012
Call it New York’s most expensive two-for-one deal.

Steel tycoon Leroy Schecter is combining two of his condos at 15 Central Park West into a single five-bedroom apartment that he hopes to sell for $95 million.

If the 35th-floor abode trades for that price, it will break the record for most expensive condo in the city, set earlier this year when former Citigroup head Sanford I. Weill sold his apartment in the same posh building for $88 million.

Schecter, the head of Marino/Ware Industries, paid $18.9 million for the original two apartments and tried to sell them in 2010 for a combined $55 million, according to The Wall Street Journal.He had previously rented the two units for a total $70,000 per month to Yankee slugger Alex Rodriguez and Cendant Corp. founder Henry Silverman.

“Nobody knows what the right price is,” he told The Wall Street Journal. “If you had $10 billion and you are trying to put in a good place, you aren’t going to put it in a bank, you are going to try to buy good real estate with it.”

The apartment is 20 percent smaller than Weill’s former residence on top of a 20-story section of 15 Central Park West, but allegedly boasts better views of the Hudson River and cityscape. The living room, study and dining room in the merged unit will face Central Park, and the bed in the master bedroom will also command an impressive view of the park.

Schecter’s apartment, listed with Emily Beare of CORE, is the second-priciest condo on the Manhattan market, after the $100 million octagonal CitySpire penthouse on West 56th Street.

Below is the floor plan for the combined unit:

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