15 CPW condo flips to venture capitalist
Parag Saxena
Global venture capitalist Parag Saxena paid $13.8 million for unit 29C at 15 Central Park West, twice what the seller paid for the apartment, according to city records posted today. Saxena, co-founder and CEO at Vedanta Capital, bought the unit on March 19 from an unidentified buyer, who paid only $6.9 million for it on Dec. 13. Other wealthy financiers in the building include former Citigroup CEO Sandy Weill and Goldman Sachs CEO Lloyd Blankfein. Saxena, a former CEO and fund manger with Invesco Private Capital, formed Vedanta Capital in 2006 with two partners. He ranked No. 31 in Forbes' 2008 Midas List of high-tech dealmakers. Last month, The Real Deal took a unit-by-unit look at the ultra-elite tower.
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Comments
Anonymous
why would he pay double the price when the economy is about to go into a depression and housing prices will fall for the next 2 years?
Comment #1 Posted By: Anonymous 04/15/08
Anonymous
Because he doesn't have to worry about money issues, and he wants to live in what is probably the one great Mnnhattan new build in the past half century.
Comment #2 Posted By: Anonymous 04/15/08
Anonymous
OK, so help me out here. What is it that makes 15 CPW "the one great Manhattan building in the past half century"?
Comment #3 Posted By: Anonymous 04/16/08
Anonymous
Depression is a bit strong, don't ya think? Banks are still making profits...50% less profits, but profits all the same...keep believing the hype #1, that'll get ya places...Do you think he financed it???
Comment #4 Posted By: Anonymous 04/16/08
Anonymous
@Comment #1
Wake up bonehead! If this Saxena dude was short anything to do with subprime (e.g. BSC) since December with the same seed capital ($6.9 million) then he has far more than a double on his hands. So, in real terms for him, the condo is much cheaper.
Comment #5 Posted By: Anonymous 04/16/08
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