NEW YORK POST
By BRADEN KEIL
March 28, 2002
Questions are swirling about the beleaguered luxury condo project 455 Central Park West (between 105th St. and Duke Ellington Blvd.). So far, developers of the project, the Chicago-based MCL group, have sold the first 15 floors of units in a proposed 26-story tower to Columbia University to serve as faculty housing. Sources say the remaining unsold condos in the tower and in the separate landmark castle building, a former Cancer hospital financed by John Jacob Astor in the 1880s, may well be snapped up by the space-crunched college as well.
A Columbia spokesperson would not comment on any ongoing negotiations, while MCL's flack also declined comment. What seems clear - it ain't sellin'.
Although it's located on Central Park, the project has a blocks-long, 40-foot-high rock formation directly across the street obstructing most park and city views from the 4-story landmark building in the transitional neighborhood.
Most of the condos - ranging in price from $1.2 million to $7.2 million - are still available on the Insignia Douglas Elliman Web site. Last fall, construction inexplicably stopped, and many permits displayed at the site are expired after the renovation began more than a year ago.