Former Citigroup CEO Sandy Weill's Central Park Penthouse Hits Market at $88 Million

Let's just say it: If there is such a thing as a bad time to be rich, it's definitely now.

According to the Wall Street Journal, Sanford I. Weill, a one percenter who is the former chairman and chief executive of Citigroup Inc., has listed his postwar Central Park West penthouse in Manhattan for $88 million, with the intention of donating the proceeds of the sale to charity. He told the Journal that in this difficult period in the country's history, it is "a pretty good time" for wealthy Americans "to be quiet." Can't argue with logic, can you?

Weill and his wife, Joan (pictured left), won't be going far. He plans to move from the full-floor 6,744-square-foot penthouse with a terrace and garden that wraps around three sides to a smaller place on the building's sixth floor, according to the Journal. Downsizing, just like the rest of us, and saying goodbye to his 33-foot-wide living room.

The building at Fifth Avenue and Central Park West opened in 2007 and immediately drew the Masters of the Universe -- plus Sting and Denzel Washington. If Weill gets his price, it will break all kinds of records, which in itself, might be the nicest thing Weill could do for the local economy.

While he didn't say which charity would reap the rewards of the sale, our money is on Carnegie Hall, where he sits on the board.

See photos of one of 15 Central Park West's ultra-posh units below.

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