NASCAR’s first family is racing to new heights with their latest real estate purchase at Central Park Tower.
A trust tied to the France family purchased a sponsor unit at Extell Development’s 217 West 57th Street for $16.8 million, public records show. The unit, which asked $22.1 million, traded for roughly $4,800 per square foot.
Unit 60E spans 3,400 square feet, with three bedrooms and three bathrooms. It also features 11-foot ceilings, floor-to-ceiling windows overlooking Central Park and formal entry foyer and gallery.
Discounts have reigned over deals at the Billionaires’ Row supertall, which began closings in 2021. The markdowns more recently include two condos — units 114 and 112 — which sold this year for close to $20 million less than their over $60 million asking prices.
Developer Gary Barnett originally forecasted a $4 billion sellout, but acknowledged last year the tower was likely to fall short of that sum. A TRD Pro analysis estimated in 2021 the sellout would likely be closer to $3 billion.
Sales launched at the supertall — marketed as the tallest residential building in the world standing at 1,550 feet — in 2018 and closings began in 2021. Adrian Smith + Gordon Gill Architecture designed the 179-unit building with interiors by Rottet Studios.
The tower’s amenities include a 60-foot pool, fitness center, sun deck and terrace and private dining room on the 100th floor.
Bill France, Sr. founded the car racing organization, headquartered in Daytona Beach, Florida, in 1948. The NASCAR company is still controlled by the family: France’s grandson, Brian France, has been at the head since 2003.
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In 2015, the family was named one of the richest in the United States with a reported net worth of $5.7 billion.
Bill France’s 3.8-acre Daytona Beach estate, valued at $13.8 million, hit the auction block in June 2017. The property was purchased by an unknown couple for just under $5 million.