Former Coach COO Sells Central Park West Condo for a Mere 40% Gain

In today’s luxury market where Manhattan’s elite are getting twice what they paid for their homes, former Coach COO Keith Monda had to settle for a paltry 40% gain.

The six-story townhouse at 247 Central Park West was originally priced at $32 million in April 2010. The third price chop was the charm, with the 12,270 square foot condo selling for $22.4 million.

Monda bought the mansion at West 85th in 2006 from Abigail Disney, Walt Disney’s grandniece, for $15.6 million.

So what is the moral of this $7 million gain? While designer handbags can make you a fortune, real estate can make you more. On a transaction-by-transaction basis anyway.

Source: Curbed

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