So You Think You Know Everything About One57?

December 22, 2014

Well, you might want to think twice. Even though the city’s most expensive condo building is also perhaps the most written-about (even the Times has run out of ways to describe it), there are still plenty of little-known facts about the 1,005-foot-tall tower.

One57 is considered the crown jewel of what’s been dubbed “Billionaire’s Row,” and can also be credited with launching the ultra-luxury building boom. Developed by Extell‘s Gary Barnett and designed by Pritzker-winning architect Christian de Portzamparc, the sleek tower is currently the second tallest structure in the city. And that’s just the beginning.

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What’s in a name? One57’s original name was Carnegie57, after the eponymous music hall across the street. 57th street, where the building is located, has since become known as “Billionaire’s Row.”

Supersize that. One57 is the first supertall (a building taller than 1,000 feet) in NYC since the 1970s. With a roof height of more than 1,005 feet, it’s the third tallest building in NYC to its roof after One World Trade Center and the Empire State Building. The under-construction 432 Park Avenue is nearly 400 feet taller and will have the highest roof in the city.

Coming up short(ish) Initially, One57 was to rise more than 1,400 feet, but due to the recession and failure to acquire an adjacent lot, its height was scaled back.

Ground breaking. Seven buildings were demolished to make way for the project. Air rights were transferred from Alwyn Court, CAMI Hall, and the Briarcliff apartments, allowing the tower to amass more than 830,000 square feet of space.

One57, Extell, Christian de Portzamparc

Long and winding road. Gary Barnett, CEO of Extell Development, started assembling the site in 1998, began demolition in 2007, and topped the building off in fall 2012. After more than 15 years, Barnett is only now putting the finishing touches on the tower.

Crane-us interruptus. During Super Storm Sandy, all of New York City, and much of the world, looked on in horror as the support cable of a crane at the top of the building broke, causing it to hang precariously as everyone collectively held their breath. The dangling crane weighed approximately 80 tons, and in the end it took the assembly of a second crane to remove it, delaying the project by approximately five months.

One57, Extell, Christian de Portzamparc

The billionaires’ numbers game. According to the Daily News, the least expensive unit at One57 is priced at $7.35 million. When the Park Hyatt hotel first began taking reservations for its suites this past August, the least expensive room available went for $855 per night. Reportedly, the most expensive listing at One57 is a $115 million penthouse. A duplex apartment is in contract for $90 million, and the most expensive closing so far was $55 million. Eleven units in the building are priced higher than $42 million, and the nine full-floor apartments near the top that have sold so far have all gone to billionaires.

One57, Extell, Christian de Portzamparc
Via Urbanfile

Bronze is still impressive. One57’s apartment closings had the third highest average price per square foot of any Manhattan building in 2014. Its 38 closings recorded this year sold for an average price at $5,566.

A flood of inspiration. Designed by Pritzker-Prize winning architect Christian de Portzamparc, One57 was inspired by a cascading waterfall. The tower’s tiered massing primarily addresses Central Park, but offers a distinct appearance from each direction. According to the architect, the building’s animated east and west facades are like the pixels of an image referencing paintings by Austrian artist Gustav Klimt. The Central Park elevation was to feature the same pinstriped glass as the southern elevation, but Gary Barnett thought it unsavory to view alternating hues of Central Park green from the apartment interior.

Well, now that you’re a One57 expert, you can definitely impress the family at this year’s holiday dinner.

[One57 on CityRealty]

Images via One57 unless otherwise noted

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  1. P

    How come you didn’t mention that PortZamparc was so appalled by Extell’s value engineering that he tried to take his name off the building?

  2. G

    Billionaires + Hyatt=.oxymoron