Extell development

condos, Midtown, New Developments

Seven Floors of One57 Hit the Market for $250 Million

By Diane Pham, Mon, November 9, 2015

ONE57 tower new york christian de portzamparc

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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Midtown West, New Developments, Rentals

555 Tenth Avneue, Extell Development, 547 Tenth, SLCE Architects, 551 Tenth, McGinley Design 2 (3)

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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Architecture, condos, Midtown, New Developments

nordstrom tower

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.”

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