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"I think this 'celebrity star-chitect' condo boom is about to run its course with these resales. This lovely apt for example, is listed for $29MM, with maintenance of $4,850/mo and taxes (currently) at $2,300 per month = that's $86,000/yr in taxes/maint. A condo like this has a tax abatement attached..such that in rough numbers the taxes are about 70% of what the "market" unabated taxes would be. Say, the real taxes are $7,000/mo ($84,000/yr) in today's dollars (which is the range they would be at without the abatement)."?EHHouseHunter [15 Central Park West Pad Cuts Price by $5M, No Big Deal]