It takes four minutes and 35 seconds for a construction elevator to reach the top of Central Park Tower.
The condo project — the tallest residential building in the world at 1,550 feet — topped out Tuesday, 15 years after Extell Development started assembling the site.
“We’ve got unimpeded views in all directions; nobody is blocking our views,” chairman Gary Barnett told a crowd that gathered to see the views from the 107th floor. An audible gasp could be heard as 16-foot curtains dropped to reveal double-height windows with 360-degree views.
With a sellout of $4 billion, CPT is one of the developer’s most ambitious projects to date, and Barnett acknowledged an oversupply of luxury inventory on the market. He said prices are 15 percent to 20 percent below those at 220 Central Park South next door.
“We have to be flexible when we’re selling really large units,” he said. “It’s a more challenging market for sales.”