Ex-CFO of Lehman in contract to sell Central Park condo

Lehman Brothers Holdings' former chief financial officer, Erin Callan, is in contract to sell her two-bedroom condominium in New York's 15 Central Park West. The sale is set to close this week for $11.8 million, just below the $12 million asking price, a person familiar with the deal said. That would be nearly double the $6.48 million Callan agreed to pay for the condo about three years ago while the building was under construction. Lehman demoted Callan, who is considered one of the most powerful women on Wall Street, from her CFO post in June, as part of a shake-up in the company's unsuccessful bid to restore investor confidence. In July, Callan joined Credit Suisse Group and now oversees its global hedge-fund business. Many early buyers at 15 CPW have sold their apartments at a significant profit. Callan's 31st-floor... [read full story]