Erin Callan makes tidy profit on sale of 15 CPW apartment

By Carol Eisenberg

October 16, 2008 at 3:12pm

She may have been forced out as chief financial officer of Lehman Brothers, but Erin Callan appears not to have lost that golden-girl touch.

The daughter of a New York City cop who was briefly one of the most powerful women on Wall Street, Callan recently flipped her apartment at 15 Central Park West, selling it for nearly twice what she paid for it three years ago, according to city records.

The 42-year-old tax attorney got $11.8 million for the two-bedroom apartment - just under the reported asking price of $12 million. The buyer is Richard A. Chaifetz of Lake Forest, IL, founder and chief executive of Chicago-based ComPsych.

Callan originally purchased the apartment for $6.48 million. The apartment has been on the market since she was demoted at Lehman Brothers and subsequently joined Credit Suisse Group to oversee its global hedge fund business.

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The luxe address, which boasts temperature-controlled wine cellars, full-time chef and a swimming pool, is home to Sting and Norman Lear, as well as to a slew of Wall Street executives, including Lloyd Blankfein, chairman of the Goldman Sachs Group, and Sanford Weill, chairman emeritus of Citigroup.

Chaifetz is a trustee of the Field Museum and of St. Louis University, as well as the founder of ComPysch, which provides employee assistance programs to public and private companies, including counseling for stressed workers. He will no doubt find plenty of demand for his services in New York.

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