Extell Development

Extell secures density bonus for 71-story mixed-use project at Wellington Hotel site

Rendering of proposed tower at 871 7th Avenue. Credit: NYC CPC

June 23, 2026

Extell secures density bonus for 71-story mixed-use project at Wellington Hotel site

Extell Development last week secured a zoning bonus from the city required for the firm's proposed 1,130-foot-tall tower at the site of Midtown’s former Wellington Hotel. The City Planning Commission last week granted the project at 871 7th Avenue a nearly 120,000-square-foot density bonus; in exchange, Extell will upgrade the nearby 50th Street subway station to be fully accessible. The approval allows for the project to expand by 20 percent, transforming it from a 27-story hotel into a 71-story mixed-use tower with 130 residential units and 156 hotel rooms. As first reported by Crain's, the expansion utilizes the city’s Zoning for Accessibility (ZFA) program, which offers density bonuses to developers in exchange for transit improvements.
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Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

Hotel Wellington. Photo by Jazz Guy via WikiCommons

October 24, 2025

Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

By Aaron Ginsburg

Extell Development wants to nearly triple the height of its proposed tower at the site of Midtown's former Wellington Hotel and make it residential. As first spotted by Crain's, Gary Barnett's firm filed plans with the Department of City Planning this month seeking to expand its project at 871 7th Avenue from a 27-story hotel to a 71-story mixed-use tower with 130 residential units, likely condos, and 156 hotel rooms. Extell is pitching upgrades to the nearby 50th Street subway station in exchange for a zoning bonus to allow for the 1,050-foot-tall tower.
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Triplex penthouse at Central Park Tower asks record $250M

Photo: Cody Boone for SERHANT.

September 16, 2022

Triplex penthouse at Central Park Tower asks record $250M

By Devin Gannon

Living atop the world's tallest residential tower won't come cheap. The triplex penthouse at Central Park Tower hit the market on Monday for an astonishing $250 million, set to become the country's most expensive sale ever if the home fetches the asking price. The highest residence in the world sits 1,416 feet above New York City on Billionaires' Row and takes up the building's 129th, 130th, and 131st floors.
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Distinctive Homes

Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

Image © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

November 16, 2017

Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

By Michelle Cohen

A full-floor, 6,240-square-foot penthouse at Midtown billionaires' bunker One57 recently sold to an unidentified high bidder–one of five contenders–at a foreclosure auction for $36 million. That number is 29 percent lower than the original $50.9 million price shelled out by Nigerian businessman Kolawole Akanni Aluko for the newly-minted condo in 2014. The fire sale was the fourth resale in the 1,004-foot-tall Billionaire's Row flagship trophy tower to trade at a loss, according to data from appraiser Miller Samuel Inc., reports Bloomberg. The latest example is the largest discount to date on one of the pricey properties, all of which sends a message to buyers with plans to cash in on the ultra-luxury units in short order. And there are currently 16 apartments at the building listed for sale, most of them by the developer.
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Real Estate Trends

Lottery opens for Extell’s Lower East Side affordable rental, from $947/month

Rendering of 229 Cherry Street, via Extell Development

November 1, 2017

Lottery opens for Extell’s Lower East Side affordable rental, from $947/month

By Devin Gannon

The housing lottery for Extell Development's affordable housing building in the Lower East Side has officially launched. The 13-story development at 229 Cherry Street and sits right next to the group's amenity-filled, luxury condo, One Manhattan Square. Designed by Dattner Architects, residents at 229 Cherry Street will have access to a landscaped terrace, fitness center and a lounge. Qualifying New Yorkers earning 60 percent of the area median income can apply for $947 per month studios, $1,017 per month one-bedrooms and $1,230 per month two-bedrooms.
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Affordable Housing

Brooklyn Point, Extell Development’s first tower in the borough, will rise 720 feet

New rendering of City Point courtesy of Extell Development

October 12, 2017

Brooklyn Point, Extell Development’s first tower in the borough, will rise 720 feet

By Devin Gannon

Extell Development released a teaser website on Thursday ahead of its sales launch for Brooklyn Point, the group’s first tower in Brooklyn, and revealed more details about the luxury high-rise. Rising 68 stories and 720 feet high, the tower at 138 Willoughby Street will be the tallest building in the borough until 9 DeKalb Avenue rises, which will be roughly 1,000 feet tall. As the last phase of City Point, Brooklyn Point will join two other residential buildings, the Brodsky Organization’s 7 DeKalb and City Tower.
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New rendering of Extell’s Central Park Tower shows sparkling all-glass facade

Rendering of Central Park Tower via Extell Development

August 15, 2017

New rendering of Extell’s Central Park Tower shows sparkling all-glass facade

By Devin Gannon

A new rendering of Central Park Tower, slated to be the tallest residential tower on Earth, shows the most sparkling image of the residential building yet. Construction for Extell Development’s supertall, located at 225 West 57th Street on Billionaires’ Row, is underway and when completed, the tower is projected to be 1,550-feet tall. As CityRealty reported, the all-glass rendering appears to be taken about 900-feet above Central Park and leaves out rivaling towers, 432 Park Avenue and 111 West 57th Street. The $2.98 billion project is expected to be completed in 2019.
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Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

West 58th Street elevation of Nordstom’s podium; CityRealty

March 27, 2017

Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

By Devin Gannon

When it reaches its projected 1,550-foot height, Extell Development’s Central Park Tower will have the highest roof-line of any residential building in the Western Hemisphere, besting the current record holder 432 Park. Though the $2.98 billion project won't be complete until 2019, construction is moving ahead along Billionaires' Row, reports CityRealty. The 58th Street side, which will hold a 285,000-square-foot, seven-story Nordstrom store, is currently receiving its fluted-glass skin, a "Waveforms Facade."
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New Developments

December 10, 2016

VOTE for 6sqft’s 2016 Building of the Year!

By 6sqft

For new developments, 2015 was the year of reveals, but 2016 was all about watching these buildings reshape our city. Ahead we've narrowed a list of 12 news-making residential structures, each noted for their distinctive design, blockbuster prices, or their game-changing potential on the skyline or NYC neighborhoods. Which of these you think deserves 6sqft's title of 2016 Building of the Year? Have your say below. Polls for our third annual competition will be open up until 11:59 p.m., Sunday, December 11th*, and we will announce the winner on Tuesday, December 13th!
Learn more about each of the buildings in the running here

New Developments

June 16, 2016

New Renderings of Extell’s Central Park Tower Emphasize Design and Record Height

By Annie Doge

A new set of images of the world's upcoming tallest residential tower have been uncovered, these better revealing the cantilevering silhouette of the 1,550-foot supertall and how it will relate to the skyline of Central Park South. The images of the Central Park Tower (née Nordstrom Tower) were first spotted by NY Yimby and are part of official EB-5 Immigrant Investor program materials posted online and provided by developer Extell. As such, they confirm that the supertall will indeed no longer have the spire, a feature which would have brought the tower to 1,775 feet and just a foot shy of One World Trade. The materials also reveal that the tower is being marketed with a height of 133 floors (the actual count is just 95, though some units like the 17,000-square-foot three-story penthouse have ceilings that stretch well beyond the standard) and 179 luxury residential units.
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Lottery Launches for 29 Affordable Units at Extell’s 70 Charlton in West Soho, From $833/Month

By Diane Pham

It's not too often that affordable housing opportunities arise in prime downtown areas like West Soho, but starting tomorrow, 70 Charlton Street will begin accepting applications for 29 of its below-market-rate apartments. The Beyer Blinder Belle-designed building is of the luxury persuasion, developed by none other than Extell. In total there are 116 residences; 92 are high-end co-ops (currently priced between $1.6M and $7.1M) with interiors crafted by Workshop/APD in one building, and the rest affordable units situated in a connected building. According to the Housing Connect website, studios will start at $833/month, one-bedrooms will go for $895/month and two-bedrooms for $1,082/month.
Find out if you qualify here

Affordable Housing

May 11, 2016

Skyline Wars: Accounting for New York’s Stray Supertalls

By Carter B. Horsley

Carter Uncut brings New York City’s latest development news under the critical eye of resident architecture critic Carter B. Horsley. Ahead, Carter brings us his eighth installment of “Skyline Wars,” a series that examines the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. In this post Carter looks at the "stray" supertalls rising in low slung neighborhoods. Most of the city’s recent supertall developments have occurred in traditional high-rise commercial districts such as the Financial District, the Plaza District, downtown Brooklyn and Long Island City. Some are also sprouting in new districts such as the Hudson Yards in far West Midtown. There are, however, some isolated "stray" supertalls that are rising up in relatively virgin tall territories, such as next to the Manhattan Bridge on the Lower East Side and Sutton Place.
read more from carter here

Architecture And Design

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

Carter Uncut brings New York City’s development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter kicks off a nine-part series, “Skyline Wars,” which will examine the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. To start, Carter zooms in on the biggest developments shaping the southern corridor of Central Park.

November 25, 2015

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

By Carter B. Horsley

They did not come from outer space when they landed on our front yard while the NIMBY folk and the city’s planners and preservationists weren’t looking. Some are scrawny. Some are dressed like respectable oldsters. They’re the supertalls and they’re coming to a site near you.
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November 9, 2015

Seven Floors of One57 Hit the Market for $250 Million

By Diane Pham

It may not be the penultimate $100 million penthouse, but an investor with enough dough can still make headlines buying into the city's most expensive condo tower. According to the Journal, Extell is selling a block of 38 rentals in its blockbuster One57 for $250 million. The paper writes that unloading the units will bring the developer $3,800 a square foot, or an average of more than $6.5 million per apartment—more than double the $1,800 average of Manhattan condos sold during the third quarter.
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September 24, 2015

Extell’s Church-Encroaching 10th Avenue Tower Tops Out, New Interior Renderings Revealed

By Ondel Hylton

With the opening of the 7 train extension earlier this month, things are finally starting to look up for Manhattan's far West Side–literally. Hudson Yard's Coach Tower is nearing its 900-foot apex, and Gary Barnett's Extell Development has topped off construction on its 610-foot high skyscraper at 555 Tenth Avenue. Extell's rental/dormitory project anchors a full block-front between West 40th and 41st streets, and cozies up next to (and above) the neo-gothic Church of Saints Cyril & Methodius and Saint Raphael, from which the savvy developer purchased 140,000 square feet of air rights from in 2012 for $16.5 million. According to previous reports, Barnett obtained the rights to build on the 18,000 square-foot parcel after signing a 99-year ground lease from the estate of Sol Goldman in 2011. The $480 million project is partly financed by means of $100 million from EB5 equity investors.
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August 18, 2015

The Final Design of Extell’s Nordstrom Tower Still Undecided

By Diane Pham

Back in May it was reported that the official rendering for Extell's Nordstrom Tower—a.k.a. Central Park Tower, a.k.a. NYC and the country's future tallest tower (by roof height)—had finally been released by the developer, showing a glassy construction rising 1,523 feet from its 217 West 57th Street address. But now comes news from The Post's Steve Cuozzo that the tower's final design is actually "still up in the air."
Find out more here

Extell Development

Extell secures density bonus for 71-story mixed-use project at Wellington Hotel site

Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

Triplex penthouse at Central Park Tower asks record $250M

Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

Lottery opens for Extell’s Lower East Side affordable rental, from $947/month

Brooklyn Point, Extell Development’s first tower in the borough, will rise 720 feet

New rendering of Extell’s Central Park Tower shows sparkling all-glass facade

Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

New Renderings of Extell’s Central Park Tower Emphasize Design and Record Height

Lottery Launches for 29 Affordable Units at Extell’s 70 Charlton in West Soho, From $833/Month

Skyline Wars: Accounting for New York’s Stray Supertalls

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

Seven Floors of One57 Hit the Market for $250 Million

Extell’s Church-Encroaching 10th Avenue Tower Tops Out, New Interior Renderings Revealed

For $2.75M, this West Village co-op exemplifies timeless, sophisticated design

The Final Design of Extell’s Nordstrom Tower Still Undecided

144 Vanderbilt Avenue in Clinton Hill

Extell Development

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