William Zeckendorf has signed a contract to sell his 3 bedroom Penthouse apartment at 15 Central Park West for $40 Million. The apartment sale now ranks as the highest per square foot Manhattan residential sale, according to The Real Deal. He reportedly paid his family who developed the building $10.7 Million in 2005 for the unit.

The recent surge in super luxury property sales has lead some real analysts to wonder if this is a wave due to the uncertainty around whether or not capital gains taxes will be raised by the administration in 2011. If so, it may result in a slow down of transactions in this category after the new year, if the change passes Congress. They are due to revisit the issue November 15th.