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Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing

New York Post

Gimme Shelter

By Braden Keil

Harlem hottie

Gentrification is hitting the fast track in Harlem, with word that a duplex penthouse apartment to be built on Central Park North (aka 110th Street) is about to sell for more than $12 million. The buyer is said to be a tycoon from Australia.

Should the sale close in the building known as 111 Central Park North, it will be more than three times the neighborhood's current record price of $3.89 million for a single-family home.

Two duplex penthouses in the 20-story building are being combined into a sprawling 7,000-square-foot mansion with 2,000 square feet of terraces. The park-fronting building will comprise 47 condo units and is expected to be completed in late 2007.

Another sale at 111 CPN, which brokers say has sold approximately a quarter of its units since opening its sales office after Labor Day, involves an entire 5,500-square-foot floor fetching more than $6 million. The Athena Group developers had no comment on the pending sales.

Thursday, September 21, 2006