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Scandalous Time Warner Penthouse Returns, Now $3.5M Pricier

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We might expect a guy who once headed the Psychic Readers Network to come up with a long-term plan for real estate profits. The next stage in Steven Feder's plan: raise the price of his Time Warner Center penthouse. The apartment, #75CE, was once on the market as part of a $57.5 million combo unit. But the other half of the combo found a buyer, so Feder rented out the place for $57,500/month. Now that the lease is almost up, the place is for sale again, The Real Deal reports, for $38.5 million. That's $3.5 million more than its asking price the last time around, an increase the broker attributed to improvement in the market. Shall we ask Miss Cleo whether it would be a good investment?
· Psychic Hotline King's TWC pad now $38.5M [Real Deal]
· Supersized Time Warner Center Condo is Also Big on Scandal [Curbed]
· Buyer Takes Half of Scandalous Time Warner Center Condo [Curbed]