$1.2 Million Studio is a Bargain: The first flip of one of…

The first flip of one of 15 Central Park West's 400-square-foot staff studios has finally happened. The 29 studios can only be purchased by buyers in the building, but what a group to market to! On the same day that he sold his 3BR apartment at 15 CPW for $18.8 million (he bought it for $10.6 million), NASCAR boss Brian France sold his studio to voracious 15 CPW property hoarder Gotham Makker for $1.2 million. France bought the studio for $780,000, and many brokers think he could've gotten even more for it had he auctioned it off amongst all the buyers. [NYT]For more stories from Curbed, go to curbed.com.

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