Extell’s Central Park Tower Sells Unit For $45M

Prices continue to shrink at the tallest residential building in the world.

Unit 120 at Extell’s 217 West 57th Street sold for $45.4 million, a 30 percent drop from the apartment’s original $65 million asking price when it was listed in February. The apartment’s asking price was slashed to $59.5 million in July.

The buyer was shrouded by a limited liability company and in the care of a Hong Kong-registered investment fund.

The sale continues a trend of discounted sales at Gary Barnett’s supertall on Billionaires’ Row, although the prices still are among the highest in New York.

Unit 120 is the eighth-priciest closing this year in the city. It surpassed the property’s Unit 39B, which sold for $43.5 million in September, a 42 percent discount from its original $75 million asking price.

Earlier this year, Barnett scored the city’s second-most expensive sale when Unit 107 sold for $117.4 million. It is also the second priciest in the building, after its notorious penthouse that was at one point asking $250 million.

Barnett has not been coy about the fact he’s sought headline prices on some of his tower’s top apartments and admitted in 2022 that he’s hoping for about three-quarters of his building’s projected $4 billion sellout.

According to a TRD analysis of the recorded sales at Central Park Tower, Barnett is on track to deliver on his prediction.

The 114 sponsor sales in the analysis have gone for a combined $1.8 billion — 25 percent less than the $2.4 billion in total volume listing in the project’s original offering plan for those units.

The average price per square foot for the 114 units has dropped to $5,284 from $7,022.

Just three units have gone for over asking, and the steepest discount for a residential unit came at Unit 53 which sold for 47 percent less than its original $95 million asking price.

Sales launched in 2018 for the building’s 178 units.

Unit 120 spans over 7,000 square feet and has five beds and five baths. The apartment features 11-foot floor-to-ceiling windows and a grand salon with triple exposures.

The 1,550-foot-high tower boasts amenities like private swimming pools, a theater and a fine dining restaurant on the 100th floor.

Corcoran Sunshine Marketing Group and Extell Marketing Group had the listing.