The identity of the buyer of developer William Zeckendorf's 41st floor condo at 15 Central Park West has been shrouded in mystery. Until now! The LLC-masked buyer who paid $40 million, or a record $9,940/square foot, for the apartment is Min Kao, chairman and CEO of GPS maker Garmin. (Zeckendorf is making his way across town, to the 927 Fifth Avenue co-op that belonged to late investment banker Bruce Wasserstein.) Kao forked over the $40 million despite a recent decline in his net worth, from $4.7 billion in 2007 to $1.6 billion last year, the Journal reports. Which sends us into 2010 with some hope for the luxury market after all.
· CEO of GPS Maker Finds a Home [WSJ]
· 15 Central Park West coverage [Curbed]