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NYguy Mar 13, 2018 9:28 PM

Still not officially on the market...

Extell sells $107M in shares at its $4B Central Park Tower condo project

By Chava Gourarie
March 13, 2018


Gary Barnett’s Extell Development sold $107 million worth of preferred shares in the $4 billion Central Park Tower development, according to documents filed with the Tel Aviv Stock Exchange on Monday. The deal will provide $94 million of cashflow for the development of the 95-story condominium tower.

Barnett closed on a $1.14 billion construction financing package in December 2017 for what will be New York’s most expensive condo project ever. The New York State Attorney General’s office approved the offering plan with a $4 billion sellout for 179 units. And while sales haven’t officially launched, Barnett has begun the process of marketing the units. And he’s not being bashful — Barnett is the first developer to attempt to sell 20 units priced at $60 million or more at one project.

JMKeynes Mar 14, 2018 1:02 PM


Prezrezc Mar 14, 2018 3:51 PM

Today's YIMBY update showed a picture of the tower with the spire; but on further check, I think it's from 2015.

I'm a bit confused.

chris08876 Mar 14, 2018 9:58 PM


Originally Posted by Prezrezc (Post 8119510)
Today's YIMBY update showed a picture of the tower with the spire; but on further check, I think it's from 2015.

I'm a bit confused.

Its from 2015.

IMO, CPT is like the Tupac of super talls. Keeps mysteriously appearing (spire) every once in a while. :shrug:

NYguy Mar 15, 2018 4:33 AM


BVictor1 Mar 15, 2018 8:38 AM

I like the ballroom replacement tower on the lower right.

bb1510 Mar 16, 2018 9:13 PM


Originally Posted by NYguy (Post 8108431)
Maybe they'll put some models in the window.

No, models are all in the back.

Windows on the right side is a mockup of the residential lobby and windows to the left is the projection room where they show the video of the tower and views from each unit.

I'm pretty sure they won't remove the films from the windows given the need of a darkened room for the projection and how the lobby is "rotated" so in reality, there won't be any windows on that side when it's built anyways

From what I've heard, all the N line 2 bedroom units are already in contract already; these are the 2 bedroom ~1400 sq ft full central park view units that go for around $6000 psf

NYguy Mar 17, 2018 1:49 AM


Taller and taller and taller we go in this beautiful city I call home. Wish that I could share what I saw in yesterday‘s viewing of the show room.


chris08876 Mar 19, 2018 4:40 AM

I know its just a mass model and mock up, but come to think about it, CPT with skylights illuminating the base would look kinda neat, at least from street level.

What I can't wait to see is the lighting atop of Stienway, illuminating its waterfall wall like crown. In typical Barnett fashion, its competitor JDS has absolutely no detail added to its tower; One57, CPT vs Stienway. One is via Barnett (Extell), the other Stern (JDS Development).

JMKeynes Mar 19, 2018 12:22 PM

This tower will be stunning.

NYguy Mar 19, 2018 2:42 PM



NYguy Mar 20, 2018 2:08 AM



NYguy Mar 20, 2018 8:03 PM

Michael Urdahl

jsbrook Mar 20, 2018 11:34 PM

I'm dying to see them remove some of the blue shrinkwrap or whatever it is and see if the glass color aligns with the renders.

TREPYE Mar 21, 2018 3:11 AM


Originally Posted by JMKeynes (Post 8119271)

Garbage overgrown flattop. Eye of the beholder or lower standards, not much consensus with this one.

Streamliner Mar 21, 2018 3:08 PM

This view makes it look both goofy and ominous.

NYguy Mar 21, 2018 5:41 PM

I really want to see the facade because I think it will be a shiny, crisp facade.

Wanted: Sales director at Central Park Tower
Jason Karadus is re-joining Brown Harris Stevens

By E.B. Solomont
March 21, 2018


Karadus is re-joining Brown Harris Stevens as an agent, the firm said.

“I love the project,” Karadus said. “But I’ve never punched a clock in my life.”

...Karadus said he was unhappy with the daily grind of working in-house for a developer, and missed his resale business too.

“This was a very corporate position and I gave it six months,” he said.

“I really do believe in the project, and I believe in luxury,” he said. “I look forward to selling this project — but from the outside.”

Extell Development’s Gary Barnett closed on $1.14 billion in financing for the project earlier this year, when it finalized a $900 million construction loan from a consortium led by JPMorgan Chase. The developer also secured $235 million in preferred equity from an unnamed hedge fund. Terms of the loan give Extell three years to sell $500 million worth of condos.


NYguy Mar 21, 2018 11:47 PM


NYguy Mar 23, 2018 12:22 AM


gramsjdg Mar 23, 2018 1:10 AM

looks like its hit 900'

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