15 Central Park may redefine what it means to build luxury housing in NewYork City. William Zeckendorf, one of its developers, shares the storybehind it and the future ahead of it.

In a recent podcast with The Real Deal, William Zeckendorf, co-chairman of Zeckendorf Development, shared rare details on what's become one of NewYork City's most buzzed-about new developments: 15 Central Park West.

The ultra-luxury condo is the first new development along the famed park in more than a generation, and Zeckendorf discussed the decade-long journeyfrom idea to construction that went into building it. Construction startedlast year, and opening day is expected toward the middle of 2007. In the first seven months of sales, more than $1.1 billion in condos were sold at15 Central Park West, with a full-floor penthouse going for $45 million.

A scion of one of New York's most influential real estate families, Zeckendorf also talked in the podcast about the New York condo marketoverall – and why now may not be the best time to put shovels in the groundfor fresh projects.

To listen to the entire interview, click one of the links below.