People call the building at 15 Central Park West the “Limestone Jesus,” because it’s full of New York City’s most powerful and influential residents. Daniel Loeb, a very wealthy hedge fund boss, bought the apartment at the top floor in 2008, right at the beginning of the recession.
During the recession, housing prices in the United States suffered. It was a buyer’s market. In other words, Loeb bought an apartment for $45 million at a time when selling your house for more than you paid for it was a struggle. In 2012, Loeb was trying to sell the property for $100 million, just to give you an idea.