When it launched sales in 2018, Extell Development’s Central Park Tower was the most expensive condominium project in the city’s history.
Two years later, the developer has announced a shake up of its sales team in the midst of a pandemic that has battered the city’s luxury condo market.
In a statement Wednesday, Extell said Corcoran Sunshine Marketing Group would join the developer’s in-house sales team as co-exclusive brokers at the skyscraper at 217 West 57th Street.
“We have a long-standing and successful relationship with Corcoran,” Extell chairman Gary Barnett said in a statement, adding that together they would take a “fresh look” at how to market the under-construction tower.
“Now that it is nearly complete, we will have new model residences, new listings, and exceptional pricing for today’s market,” Barnett said.
Extell closed on $1.14 billion in financing for the tower in December 2017. Under the deal, the developer is required to have $500 million worth of units in contract by this December, according to filings with the Tel Aviv Stock Exchange.
A representative for the developer did not respond to questions from TRD about contract volume to date — developers are not required to report such figures publicly — but Extell said in a statement that closings are expected to begin by the end of the year.
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The 1,550-foot-tall building topped out last fall and has a projected sellout of $4 billion. Units range in size from two bedrooms to eight bedrooms, Extell said. Active listings include a full-floor unit asking $65.5 million and a three-bedroom priced at $8.5 million.
The base of the building is used as retail space by Nordstrom, which opened site last year. Records filed on the Department of Buildings’ website show that a temporary certificate of occupancy has been issued for the retail space, but not for the residential units.