Slow Sales at 455 Central Park West are No Shocker

Much has been written about 455 Central Park West, which is a developer’s bold attempt to make a top-shelf condo building out of a cancer hospital next to the projects on 105th street.

(A big article in New York, for instance. One nice tidbit: that article says the towers of the building were made round so that germs couldn’t hide in the corners.)

Today there’s news that sales of the premium condominiums have been slow.

I don’t think this surprises anyone.

It’s a shame for the developer that Columbia University–which bought a lot of units in the building–didn’t spring for the whole thing. There is no question that the project is beautifully designed and features stunning views and amenities. But even with that, the asking prices have been insane,  considering the building sits directly in front of the Lincoln housing projects and is quite a distance from transportation and a lot of the amenities of the Upper West Side.

Even on the building’s official website, the guide to the neighborhood curiously includes no attractions at all–other than a middle school–within two blocks of the development, but sees fit to highlight such attractions at the Jewish Theological Seminary on 122nd or Zabar’s way down on 80th street. In Manhattan, five blocks is a long way to walk for a coffee shop. But on this map, Zanny’s at 108th and Columbus is the closest one that gets any attention–all of which inadvertently confirms the notion that this development is on something of an island.

Perhaps the site is jinxed. It was once a sanitarium, and many have failed trying to build there–many were stalled in planning for various reasons. The current developer is a pioneer, but like those who settled in the wild west, he is likely to experience plenty of obstacles before convincing many others to "settle" there–at least at those prices.

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5 Responses to Slow Sales at 455 Central Park West are No Shocker

  1. avatar Steve Atkatz says:

    As a long term renter in a beautifully restored brownstone across 105th street from “The Castle” I truly appreciate your article discouraging sales at the ridiculously priced 455 CPW. However, there are a few errors in the article:
    First, there are no “projects” across the street and no Lincoln Houses in the neighborhood. The closest low income housing is the Douglas Houses [easy to remember, he was black and Lincoln white] which go south and west from 104th and Manhattan Ave. A crack nexus a few years back, it is currently safe, clean, and relatively [remember this is SoHa - not Manhattan Valley or the Upper West Side as the real eastate people would have you believe] drug free place.
    Second, Transportation is excellent, the B & C trains stop 2 short blocks away at 103rd & CPW, and the M10, M7 & M116 buses in front of the door.
    Third, head 3 blocks west to Broadway and you will find a number of excellent restaurants priced significantly below those further south. There are both a Gristedes and a D’Agostino directly across on Broadway so your maid/butler [you should have at least one of each if you can afford to buy at 455] would not be offended if they had to shop at the Associated or Bravo that are much closer. Delta Middle School, one of the very best in the city is right there [if your kids can pass the entrance exam] at 108th and Amsterdam. The attractions of Central Park, right across the street, do not need a specific mention.
    These comments were just for your information. Please do not retract your previous stuff and certainly do not publish them. Help keep the rich out and the rents reasonable on 105th & 106th Sts.

  2. avatar winged victory films LLC says:

    Who is the developer for 455CPW?

  3. Dan McLean of MCL Companies Chicago based firm making first foray into NYC.

  4. avatar Amy says:

    I am interested in purchasing an apartment here. How may I contact the sponsor of the LM apartments.

  5. avatar douglas heddings says:

    If you want to send me an email Amy at dheddings@heddingsproperty.com we can help you out.

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