91 CPW Co-op Apartment Sells For $7M, a 60% Return After 2.5 Years
Medical venture capitalist Charles C. Cahn, Jr. just paid $7 million for a co-op apartment at 91 Central Park West.
This Classic 6 apartment has 3 bedrooms, 3 baths, and a fantastic view of the Macy’s Thanksgiving Day Parade.
John Burger at Brown Harris Stevens had the exclusive listing.
The pre-war cooperative was built in 1921, has 15 floors, and approximately 96 apartments. Monthly maintenance charges for the unit were listed at $3,807, of which approximately 52% is tax deductible.
The sellers were Daniel Dokos, a corporate lawyer at Weil, Gotshal & Manges, and his partner Glenn Finn who worked as the Chief Operating Officer for Tweedy, Browne Co. investment advisors, according to a Hillary Clinton for President 2008 FEC filing.
While foreclosures were running rampant around the country, Dokos and Finn can smile all the way to the bank about having bought this apartment. They bought the Upper West Side co-op in April 2007 for $4,377,500.00, flipping it for a 60% return in a little over 2½ years.
$2,622,500 isn’t a bad return when you consider that the financial and national real estate markets plummeted starting in late 2008.
Dokos is chairman of Weil Gotshal’s firm’s banking & finance practice and a member of the law firm’s 16-member firm Management Committee. He a member of WEGALA, the law firm’s Lesbian, Gay, Bisexual and Transgender Affinity Group, and extols Weil’s focus on diversity in the firm’s 2009 Diversity Brochure.