Tuesday, 31 May 2016
Last updated 3 days ago
May 22 2012 | 10:39am ET
Canyon Capital Advisors co-founder Mitchell Julis knows a good deal when he sees one—and he's looking to cash in on New York's sizzling high-end real-estate market.
Julis and his wife, Linda, have put their three-bedroom condominium overlooking Central Park on the market. The couple bought the spread—which includes a studio apartment with a bathroom and kitchenette on a separate floor—for just $10.3 million in 2008, when the ultra-luxurious 15 Central Park West was completed. Just four years later, they're seeking $26 million.
If they get it, it would make for a 152% return.
While the Julis' fourth-floor spread is hardly the most extravagant among hedge fund pieds-a-terre in the big city, it does have three-and-a-half bathrooms (excluding the one in the seventh-floor studio), large windows overlooking the park, an impressive-sounding "marble-clad" kitchen and heated floors in the master bedroom. It's also currently one of only three apartments available in the 43-story building, which includes its own movie theater and a 14,000-square-foot fitness center with a pool.
Among those who have called the building home are Goldman Sachs CEO Lloyd Blankfein, former Citigroup chief Sandy Weill, actor Denzel Washington, Sting, New York Yankees third baseman Alex Rodriguez and sportscaster Bob Costas.