Casino developer flips 15 CPW unit for $27M - Monday 12th of January 2009

A 2,848-square-foot apartment on the 38th floor of the tower at 15 Central Park West flipped for $27 million, twice its purchase price but less than its asking price.

The seller of the three-bedroom, three-and-a-half bath unit was listed as Coastal Protective Services, which is owned by casino developer Richard Fields. Fields is also chairman and CEO of Coastal Development, a financier of resort, entertainment and gaming properties. He was not immediately available for comment.

The buyer in the sale, which closed December 12, was identified as GZB New York, according to property records published today.

Coastal Protective Services bought the property in June for $13.35 million, the records showed.

The apartment was originally listed for $35 million in September.

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