Sanford Weill, the former chairman of Citigroup, bought a 6,437-square foot apartment at ultra-luxury building 15 Central Park West for over $43 million in 2007. Now, he's selling the full-floor home, which has sweeping views of the park, for $88 million. He tells the Wall Street Journal that he and his wife "don't need as big an apartment as we did. We are downsizing a little bit." Also, right now is "a pretty good time" for the 1% "to be quiet"—and he's going to donate the proceeds of the apartment sale to charity.
Weill, who has made hundreds of millions and donated hundreds of millions, says they will move to a smaller apartment on a lower floor in the same building. The WSJ reports, "Given the soaring resale prices for some high-floor apartments at the building, brokers said a record-breaking sale is possible for Mr. Weill's apartment despite the gloomy economic picture. Mr. Weill said New York remains a powerful draw for international buyers."
Weil, who grew up in Bensonhurst, Brooklyn, added, "We are not leaving the city and giving up the wonderful opportunity to be New York City residents and New York City taxpayers. New York has been very good to us."
