Richard Fields flips condo, makes killing at 15 Central Park West

By Carol Eisenberg

January 6, 2009 at 12:00am

Call it the Midas touch: Casino magnate Richard Fields just flipped his three-bedroom, three-and-a-half bath condo at 15 Central Park West for $27 million - twice what he paid for it a mere six months ago.

True, Fields sought an even higher mark-up, listing the 2,848-square-foot apartment on Manhattan’s Upper West Side at $35 million. After all, housing prices may be in a free-fall, but the rich are still willing to pay a premium for the hottest addresses. And the new development has attracted the likes of celebrities like Norman Lear and Sting, and financial kingpins like Goldman Sachs Chairman Lloyd Blankfein.

The fact is, even at $27 million, Fields made a hefty profit - as is his wont.

The buyer in the sale, which closed last month, was GZB New York, according to Real Deal.

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Fields is the owner of Coastal Development LLC, a developer of resort, entertainment and gaming properties, among them, the Hard Rock Seminole Casinos in Tampa and Hollywood, built in association with the Seminole Indian Tribe of Florida. He is also the largest shareholder of Suffolk Downs, New England’s only thoroughbred race track.

When not in Manhattan, the Bronx native chooses to relax on a horse and cattle ranch in Wyoming called Jackson Land and Cattle. He is also a board member of the National Center for Missing and Exploited Children (NCMEC) and a founder of the Fields Family Foundation.

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