Jason Karadus, the sales director at Extell Development’s Central Park Tower, has resigned from the most expensive condo project in history after just seven months on the job.
Karadus is returning to Brown Harris Stevens as an agent, the firm said.
“I love the project,” Karadus said. “But I’ve never punched a clock in my life.”
He said the magnitude of the development — which will be the city’s priciest residential condominium to date — made walking away more difficult. But Karadus said he was unhappy with the daily grind of working in-house for a developer, and missed his resale business too.
“This was a very corporate position and I gave it six months,” he said.
Extell could not be reached for comment.
Karadus, a veteran broker with more than 20 years in the business, joined Gary Barnett’s firm in August to lead sales at the 95-story supertall, which has a projected sellout of $4 billion.
At Town, he and Ginger Brokaw led sales at the Charles, a 31-unit condominium, where they brokered several record-breaking deals, including the sale of five penthouses for $58.6 million.
Both Karadus and Brokaw later moved to BHS, and Karadus spent a year at the firm before taking the in-house marketing job at Extell.
“I really do believe in the project, and I believe in luxury,” he said. “I look forward to selling this project — but from the outside.”
Extell Development’s Gary Barnett closed on $1.14 billion in financing for the project earlier this year, when it finalized a $900 million construction loan from a consortium led by JPMorgan Chase. The developer also secured $235 million in preferred equity from an unnamed hedge fund. Terms of the loan give Extell three years to sell $500 million worth of condos.
The planned 95-story super tall, located at 217 West 57th Street, will have 179 units, including at least 20 priced over $60 million. The priciest listing is asking $95 million, but three of the largest units don’t have prices. The top penthouse spans 15,898 square feet and features a private, 58-foot ballroom.