Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?

Posted On Tue, July 12, 2016 By

Posted On Tue, July 12, 2016 By In Architecture, Central Park South, condos, New Developments

Gary Barnett’s Extell Development has become synonymous with sky-high towers, especially those along Billionaires’ Row — the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower — where it appeared that they were readying to construct a third behemoth that would rise more than 700 feet. However, Crain’s reports that Extell has filed plans for the site at 134 West 58th Street (the same block as One57), and they call for a stubby, 18-story, 41-unit condo building that’s less than 200 feet tall.

134 West 58th Street, Extell Development, Billionaires' Row
Google Earth rendering of 134 West 58th Street rising 700 feet, courtesy of CityRealty

Extell bought the 17-story apartment building at the 58th Street address in 2008 for $39 million. Since 2014, they were also working to acquire the Calvary Baptist Church’s sanctuary and the Hotel Salisbury, which back up to site and are worth at least $100 million. Along with these buildings, as well as development rights left over from One57 and more purchased from Calvary, a new building could have risen more than 700 feet.

Last month, the developer put in applications to end some rent-stabilized leases in the current building. One of these tenants, Richard Miller, said to Crain’s: “Are they filing these plans for just this one building, or is this a plot to push negotiations with the church? People keep saying that the high-end real estate market has tanked, so maybe they are going to wait—it’s hard to know.”

It should be noted, however, that during negotiations with Vornado Realty Trust, Extell filed permits to build an 18-story, 58-unit building on a parcel of land that’s now part of 220 Central Park South. Extell used the parcel as a bargaining chip to coerce Vornado to move the tower portion of 220 CPS west so Extell’s Central Park Tower behind could also garner coveted views of Central Park.

[Via Crain’s]

RELATED:

Image of 134 West 58th Street via NY Yimby

Tags : , , ,

Neighborhoods : Central Park South,Midtown

MOST RECENT ARTICLES

  • Elegant co-op in an UES mansion still has its original leaded casement windows

    Elegant co-op in an UES mansion still has its original leaded casement windows

    This two-bedroom co-op occupies the parlor and garden floors of 4 East 82nd Street, a stately Carnegie Hill mansion. Despite ...
  • Kickstarter campaign raising $10,000 for a 15-foot inflatable ‘Trumpy’ rat

    Kickstarter campaign raising $10,000 for a 15-foot inflatable ‘Trumpy’ rat

    As a symbol of resistance to the Trump administration, Chelsea-based contemporary art gallery BravinLee created a Kickstarter to raise $10,000 ...
  • Petition started to force Melania Trump out of NYC

    Petition started to force Melania Trump out of NYC

    Fed up with the price of protecting the first lady in her ritzy Manhattan high-rise, taxpayers are urging members of the ...
  • World Trade Center Performing Arts Center may be delayed again

    World Trade Center Performing Arts Center may be delayed again

    It’s been almost 13 years since Frank Gehry initially designed the Performing Arts Center at the World Trade Center (PACWTC). ...
  • The cost of exporting trash in NYC is expected to soar

    The cost of exporting trash in NYC is expected to soar

    As the population of New York City continues to rise, so does the amount of garbage lining its sidewalks. But ...
  • ‘Fearless Girl’ statue will remain through 2018; Alligators delay first Citywide Ferry boat’s journey

    ‘Fearless Girl’ statue will remain through 2018; Alligators delay first Citywide Ferry boat’s journey

    The owner of the illegal Trump Tower Airbnb listing was fined $1,000. [NYT] And the investor who bought Donald Trump’s childhood ...
  • ODA’s slender-waisted ‘Orbit Tower’ wins the Metals in Construction 2017 Design Challenge

    ODA’s slender-waisted ‘Orbit Tower’ wins the Metals in Construction 2017 Design Challenge

    Metals in Construction magazine has just announced the winner and finalists in the magazine’s 2017 Design Challenge, “Meeting the Architecture ...
  • Gem of a two-bedroom in the East Village is both cute and cozy

    Gem of a two-bedroom in the East Village is both cute and cozy

    We’re guessing it’s probably just coincidence, that there are so many charming, pre-war co-ops on this tranquil and lovely East Village street, ...
  • Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

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

    West 58th Street elevation of Nordstom’s podium; CityRealty When it reaches its projected 1,550-foot height, Extell Development’s Central Park Tower ...
  • Ai Weiwei will bring over 100 fence art installations to NYC this fall

    Ai Weiwei will bring over 100 fence art installations to NYC this fall

    Internationally renowned Chinese contemporary artist and activist Ai Weiwei was banned from leaving his home country for more than four ...
  • Eight chances to live in a new East Williamsburg building, from $985/month

    Eight chances to live in a new East Williamsburg building, from $985/month

    A state-of-the-art fitness center, yoga room, roof deck with cabanas, designer interiors, and a prime East Williamsburg location just a ...
  • Distinctive 1969 modern Westchester County home designed by Frank Lloyd Wright acolyte asks $1.1M

    Distinctive 1969 modern Westchester County home designed by Frank Lloyd Wright acolyte asks $1.1M

    Nestled in a wooded enclave in the tranquil town of Briarcliff Manor in Westchester County, NY, this striking midcentury modern house was built ...

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.