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15 CPW Unit Nets $29M; Renter Buys Chelsea Dream Home

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Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...

1) Rich people. What are they spending millions of dollars on? What are they complaining about? This is What's Up With Rich People?
There's nothing rich people enjoy more than a good investment, and if recent sales in 15 Central Park West are any indication, owning an apartment in the luxury tower on West 61st Street is one of the best bets in New York City (if you're a multimillionaire). Earlier this week, hedge funder Zachary Jared Schreiber and his wife, Lori Fisher Schreiber, sold their 3,173-square-foot three-bed on the 33rd floor for $29 million. They bought the place in 2008 for $11.19 million. Yeah, again, good investment. [Big Ticket/"$29 Million on Central Park"; photo by Royce Douglas/Curbed Photo Pool]

2) Every "The Hunt" column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality
The Hunter: a renter looking to buy a one-bedroom
Dream: $700,000 to $900,000
Reality: $870,000
Dream: "Brooklyn"
Reality: Chelsea
Dream: interesting layout, brand new
Reality: interesting layout, recently renovated, ample space
This week's hunter is a longtime renter who was sick of paying a pound of flesh for his West Village studio and was prepared to commit his life savings to a one-bedroom purchase. Like most Manhattanites, he had heard tell of a fabled place called "Brooklyn" where one could find "more space for the money" (what) that seemed worth checking out, but like the misty isle of Avalon, such was unattainable and he decided to focus on Chelsea. He soon found a 725-square-foot one-bedroom that perfectly fit his needs, asking a reasonable $899,000. He eventually paid $870,000, plus a little extra for the previous owners' furniture. [The Hunt/"In Chelsea, a Nice Place to Park His Savings"]

15 Central Park West

15 Central Park West, Manhattan, NY 10023