Sanford I. Weill is selling his $88 million penthouse at 15 Central Park West for charity

"Tis better to give than receive" is an increasing popular anthem for some of the uberrich.

At least that's probably what they're humming in the penthouse corridors of 15 Central Park West that quickly became the city's standout residential property for sale when it opened in 2007.

An article by Josh Barbanel in today's edition of The Wall Street Journal noted that Sanford I. Weill, the former chairman and chief executive office of Citigroup Inc., has decided to sell his large penthouse in the building for $88 million and give the proceeds to charity.

"It's a 'pretty good time' for wealthy Americans 'to be quiet,'" he told the Journal.

When the sale is completed, Mr. Weill and his wife, Joan, intended to relocate to a small apartment on the sixth floor in the same building. "We are downsizing a little bit," he told the Journal.

The Weills paid $43.7 million for the penthouse in August, 2007, then the highest price per square foot, about $6,400, at the time.

Architect Robert A. M. Stern came up with a two-building solution rather than twin towers for the developers, Arthur and William Lie Zeckendorf, the Whitehall Fund of Goldman Sachs and a company controlled by Eyal Ofer.

The tower slabs are parallel to Central Park West and separated by a 60-foot-wide courtyard with the taller tower in the middle of the block and a low-rise wing along Broadway. The two towers are connected at their base and the Central Park West wing is known as "The House" and the higher structure is known as "The Tower."

The mid-block tower is about the same height as the Trump International Hotel and Tower across the street to the south and it has an asymmetrical tower. It is 43 stories tall while the other building is 20 stories tall.

Mr. Weill's penthouse, which has a 33-foot-by-25-foot-six-inch living room flanked by a 25-foot-by-13-foot library and a 24-foot-five-inch-by-14-foot gallery, is on top of "The House." It has 6,744-square feet and 12-and-a-half-foot ceilings.

Mr. Weill is the chairman of the board of Carnegie Hall and the Weill Cornell Medical College on York Avenue is named after him.

The development is across 61st Street from the Trump International Hotel and Tower and across 62nd Street from the Art-Deco-style Century, one of Central Park West's legendary twin-tower apartment buildings.

The building is not far from the huge Whole Foods store in the basement of the Time-Warner Center on Columbus Circle.