Extell just went public with Central Park Tower listings

Sales officially launched in October 2018

New York /
May.May 21, 2019 07:00 PM

Seven months after launching sales at the most expensive condominium project in the city’s history, Extell Development has publicly listed the units at Central Park Tower.

In a departure from a trend among developers who never release listings publicly, the Gary Barnett-led firm listed seven units ranging from a two-bedroom that’s asking $6.9 million to a five-bedroom asking $63 million. The latter spans 7,074 square feet and has estimated monthly common charges of $10,587 plus monthly real estate taxes of $19,619.

With 179 luxury condos, the project at 217 West 57th Street has a projected sellout of more than $4 billion — making it the priciest condo project in New York City to date. At 1,500 feet, it will also be the tallest residential building in the world.

There are 20 condos priced above $60 million, including a penthouse that will ask $95 million, according to the project’s offering plan. Residences start on the 32nd floor, above a seven-floor Nordstrom and Central Park Club, a 50,000-square-foot amenity space across three floors that will feature billiards, a screening room, a basketball court and a 60-foot outdoor pool with cabanas.

Extell launched sales last year, several months after getting the green light from the New York Attorney General’s office. It’s unclear how many units Extell has sold to date; under terms of its $1.4 billion in financing, the developer must sell $500 million worth of units within three years.

In recent years, developers have opted to keep listings close to the vest — a tactic that’s made it harder to track sales volume at a time when the luxury market is soft. Vornado Realty Trust has not listed any active listings at 220 Central Park South. Three rentals are currently listed on StreetEasy, however.


Related Articles

arrow_forward_ios
Extell Development's Gary Barnett (Credit: Getty Images and iStock)
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Gary Barnett taps outsider as CEO of Extell
Gary Barnett taps outsider as CEO of Extell
Gary Barnett taps outsider as CEO of Extell
Terra Capital's Vik Uppal, RedSky's Benjamin Bernstein with 658 Driggs Avenue and 625 Driggs Avenue (Terra, ICSC, StreetEasy)
RedSky founders accused of failing to repay bailout
RedSky founders accused of failing to repay bailout
(Getty)
The conspiracy theories plaguing real estate
The conspiracy theories plaguing real estate
Jonathan Landau
Jonathan Landau leaves Fortis to launch firm
Jonathan Landau leaves Fortis to launch firm
(Illustration by The Real Deal with Getty)
TRD Pro: Is homebuilding really down?
TRD Pro: Is homebuilding really down?
From left: Trinity Place Holdings’ Matthew Messinger and Macquarie Group’s Shemara Wikramanayake along with 77 Greenwich Street (Getty, Trinity Place Holdings, Macquarie Group, Google Maps)
Trinity Place gets extension to finish pandemic-slowed 77 Greenwich
Trinity Place gets extension to finish pandemic-slowed 77 Greenwich
East Hampton Town Supervisor Peter Van Scoyoc and 350 Pantigo Road (Zillow, Getty, Town of East Hampton)
Hamptons town could buy former department store land to build homes
Hamptons town could buy former department store land to build homes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...