NEW YORK | 138 East 50th ST | 803 FT | 64 FLOORS - Page 6

chris08876 · #**101** Posted **May 2, 2018, 10:13 PM**

Ceruzzi’s Midtown condo will launch sales at projected $536M sellout

Quote:

Ceruzzi Properties and partner SMI USA can launch sales for their Midtown East condominium development at 138 East 50th Street, according to records filed with the New York state Attorney General’s office.

The AG’s real estate finance bureau accepted the developer’s offering plan last month for the 124-unit project with a total asking sellout of price of $535.7 million, or roughly $4.3 million per unit on average.

A representative for Ceruzzi did not immediately respond to a request for comment.

The 803-foot-tall tower topped out construction in November, New York YIMBY reported.

Ceruzzi originally planned to build a 500-foot-tall hotel at the site, but changed things up in 2015. The company later obtained a $300 million construction loan from Madison Realty Capital this past August, less than two weeks before company founder Lou Ceruzzi died.

The accepted offering plan shows the developers have dubbed the Pelli Clarke Pelli-designed tower the “Centrale.” Though one of the priciest projects brought to market so far this year, the Centrale’s expense pales in comparison to Ceruzzi’s other major condo project in progress, 520 Fifth Avenue, where construction alone costs are expected to exceed $500 million.

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chris08876 · #**102** Posted **Oct 28, 2018, 9:38 PM**

Credit: Oppix56

chris08876 · #**103** Posted **Nov 6, 2018, 9:25 PM**

Located to the left of 432 Park. Short at 803 ft.

There are 41 buildings taller than this either complete or currently under construction.

Credit: Tectonic

NYguy · #**104** Posted **Nov 7, 2018, 12:30 AM**

This one hasn't really gotten much attention for an 800 footer, but that's what happens when there are so many more high profile towers. Put it in Brooklyn, and it's a different story.

Skyguy_7 · #**105** Posted **Nov 7, 2018, 10:54 PM**

^Or any other US city for that matter. There were no construction updates posted between May and Oct31 of an 800’ Tower. Only in NYC!

patriotizzy · #**106** Posted **Nov 8, 2018, 5:52 PM**

^ I mean, it's nothing special anyway. Looks like filler to my eyes. So I'm not surprised it's not receiving attention, within the sea of more impressive designs.

chris08876 · #**107** Posted **Dec 26, 2018, 2:28 PM**

Credit: Tectonic

manchester united · #**108** Posted **Mar 13, 2019, 2:25 AM**

Is it T/O?

NYguy · #**109** Posted **Mar 14, 2019, 2:22 AM**

• Video Link

chris08876 · #**110** Posted **Apr 5, 2019, 3:33 PM**

As new dev sales tumble, Ceruzzi is listing a $40M penthouse

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As the luxury market slump drags on, Ceruzzi Properties is listing a new penthouse asking a steep $39.9 million.

The duplex penthouse is at the under-construction Centrale on 138 East 50th Street, the Wall Street Journal reported.

The pricey listing comes as high-end properties have been lingering on the market and taking price cuts. In the first quarter this year, Manhattan’s luxury segment had 24 percent less sales volume compared with a year earlier, according to Douglas Elliman. The median sales price slid 15 percent to $5.9 million. Among new development properties, sales volume tumbled 39.4 percent.

Plus, the developer will be hard-pressed to find a sale that pricey east of Lexington Avenue, according to the Journal.

Anna Zarro, sales executive at Ceruzzi, said the home was moderately priced when compared to listings from a few years ago. At the peak of the market in 2015, a First Avenue condo sold for $37.94 million.

The developer held off on listing the home until the building was nearly complete, Zarro said. The timing was designed to attract buyers looking to move quickly.

Douglas Elliman Development Marketing is heading sales.

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GertElim · #**111** Posted **Apr 19, 2019, 6:02 AM**

Unfortunately, not much attention has been given to this building.

https://www.instagram.com/favoredflicks/

chris08876 · #**112** Posted **Apr 23, 2019, 11:45 PM**

Ceruzzi Properties Launches Sales At The Centrale In Midtown East, Manhattan

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Ceruzzi Properties has officially launched sales at The Centrale, a new 71-story condominium building designed by Pelli Clarke Pelli with executive architects SLCE. Located at 138 East 50th Street, the structure towers 800 feet above Midtown East, Manhattan and contains 124 residential units.

Interiors are designed by Champalimaud, a studio known primarily for its work with hotel properties both in the United States and abroad. Residential finishes feature a layering of neutral palettes and contemporary elements.

Condominium layouts range from one to four bedrooms in addition to a penthouse duplex at the pinnacle of the building. All residences offer high ceilings and views of the Manhattan skyline.

“The opportunity to own a home at the center of one of the world’s most desirable cities that is designed to replicate a five-star hotel experience is truly a unique opportunity,” said Douglas Elliman’s Alissa Rosemarin, director of sales for The Centrale. “This, combined with the quality of finishes, exceptional views, and full-service amenities, makes The Centrale one of the most inspiring new developments on the market today.”

Amenities include multiple lounges, an outdoor terrace, private dining areas, and a conference room. Wellness amenities include spa treatment rooms, sauna and steam rooms, a 75-foot lap pool, and a fitness center equipped by The Wright Fit.

According to Douglass Elliman, the exclusive sales and marketing agency, occupancy is expected by Summer 2019.

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NYY

chris08876 · #**113** Posted **Jun 6, 2019, 4:09 AM**

Complete

Credit: tectonicphoto