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-   -   NEW YORK | Central Park Tower (Nordstrom)| 1,550 FT | 131 FLOORS (https://skyscraperpage.com/forum/showthread.php?t=191095)

TechTalkGuy Aug 1, 2016 3:15 AM

Quote:

Originally Posted by King Kill 'em (Post 7518224)
We'll take it in LA if you don't want it:)

Oh no you don't! :rolleyes:
It's ours and we'll enjoy this beautiful tower. :P

This tower anchors the Central Park skyline in a significant way.

I recall years back watching the Time Warner center being built.
Now those twin towers anchor Columbus Circle in a delightful way (but I wish those towers were taller) and don't get me started with the height of the nearby Hearst tower (too short for such a nice design with no party hat). :runaway:

King Kill 'em Aug 1, 2016 4:15 AM

Quote:

Originally Posted by TechTalkGuy (Post 7518231)
Oh no you don't! :rolleyes:
It's ours and we'll enjoy this beautiful tower. :P

This tower anchors the Central Park skyline in a significant way.

I recall years back watching the Time Warner center being built.
Now those twin towers anchor Columbus Circle in a delightful way (but I wish those towers were taller) and don't get me started with the height of the nearby Hearst tower (too short for such a nice design with no party hat). :runaway:

It's ok. It would probably look silly in our skyline since it would be 450 ft. taller than the next tallest tower.

chris08876 Aug 1, 2016 10:20 PM

Extell looks to have brought in Chinese equity partner at Central Park Tower

http://therealdeal.com/wp-content/up...-tower-570.jpg

Quote:

Gary Barnett’s Extell Development appears to have scored a capital partner for one if its most ambitious projects yet, the Central Park Tower at 217 West 57th Street.

New documents filed with the New York Attorney General’s office indicate that the firm’s new partner on the Billionaires’ Row luxury condominium may be SMI USA, the U.S. subsidiary of Shanghai Municipal Investment, the largest state-owned enterprise in Shanghai.


Neither SMI nor Extell would immediately confirm the partnership, but several documents hint at SMI’s involvement.

For instance, Extell refiled its plans for the project with the AG’s office under a new corporate entity, after pulling its original offering plan last year. The new entity, SMITELL LLC, may be a combination of the two firms’ names.

Extell transferred title to the site to that new entity in June.

And in December, another LLC was registered under the name SMI Central Park Tower, LLC, according to public records from the state of Delaware.
The tower is slated to rise 1,550 feet and cost $2.98 billion, according to EB-5 investor documents from June.

Barnett has been widely said to be seeking a new capital partner for months.

As of May 2015, Extell held a whopping 87 percent of the equity in the project, according to regulatory filings on the Tel Aviv Stock Exchange, where the developer sold $300 million worth of bonds. Compare that to Extell’s far smaller exposure at One57, where it owns just 12 percent of the equity.

SMI has been an active player in the New York real estate market in recent months. It is partnering with Ceruzzi Properties at 520 Fifth Avenue, a $1 billion condo project in Midtown.

Extell first filed the offering plan for Central Park Tower last July but withdrew it shortly after, prompting speculation that Barnett was negotiating with a prospective new partner. The project was slated to have 182 units and a total sellout of $4.4 billion, a number that includes the sale of the commercial space at the base to retail giant Nordstrom. The average asking price for the condos was coming to about $6,500 per square foot.

The new offering plan filed by the company calls for 179 units but does not specify prices, so it’s possible those numbers could have been amended since
.
=======================
http://therealdeal.com/2016/08/01/ex...al-park-tower/

gramsjdg Aug 2, 2016 2:37 AM

This sounds like good news, and hopefully will mean that construction pace will pick up significantly, as it has been speculated here that the current snails pace is the result of financing and market issues...

Zerton Aug 2, 2016 10:13 PM

Quote:

Originally Posted by antinimby (Post 7507035)
It won't be ugly just underwhelming but yeah, one day we'll see the models of the other much better designs that Adrian Smith came up with that Gary rejected. :hell:

It'll be heartbreaking. :(

I've seen them. I have a friend who works there. It actually looked a lot like One57.

TechTalkGuy Aug 2, 2016 10:35 PM

I've said this before in countless other construction threads here on SSP.
Everyone's entitled to their opinion and their comments are always appreciated.
I also have an opinion that I will stand firm with.
Like other towers, including the NY Times Building, 432 Park, One Vanderbilt, 425 Park, 53W53, etc., I really do like these designs.

Now, the Nordstrom Tower (Central Park Tower), is one of my clear favs.
Personally, I loved the original design with the spire.
But without the spire, I still hold firm with my opinion that this building is going to look amazing.

I am still a fan of modern, classic and gothic architecture. :tup:

chris08876 Aug 8, 2016 10:31 PM

Quote:

CENTRAL PARK TOWER

Architect:
Adamson Associates
Interiors:
Rottet Studio
Design Architect:
Adrian Smith + Gordon Gill Architecture

131 Stories
Projected Date of Completion: 2019
http://www.extelldev.com/images/resi...ow_FlatTOH.jpg
=============================
http://www.extelldev.com/extell_resi...ark_tower.html

antoun Aug 8, 2016 11:46 PM

WTF 131 stories ?????

chris08876 Aug 9, 2016 12:04 AM

Unless they are counting the 7 floors of the retail as equivalent to 14 based on what the ceiling heights will be for the residential? :???: Or mechanical floors? On the Extell site, it does say "over" 1550 ft, so idk what "over" means. Maybe there is something that we don't know...

This is Barnett after all. Could be why he is so reluctant to release final figures. I mean, ideally, it would be nice to raise the roof height in the absence of a spire AND at the same time raise the units. Which I think he is doing in the midst of a slowing ultra luxury sector.

Maybe this rendering is really 1600-1650 ft? IDK, it seems like such a nitpick issue in regards to +50 ft or so. I guess you could scale it using "mm" based on 220 CPS/One57's height.

From Extell Site:

Quote:

CENTRAL PARK TOWER

In June 2012, Extell announced its plans to build its newest landmark along Manhattan’s premier 57th Street corridor. Rising to over 1,550 feet above Manhattan, Central Park Tower will be New York’s tallest residential tower, surpassing Extell’s own record-breaking ONE57. The building will include ultra-luxury condominium residences, dynamic amenity spaces as well as a 285,000-square-foot Nordstrom department store. This new 7-story flagship store will be Nordstrom’s flagship location in New York City.

Designed by the world-renowned architectural firm, Adrian Smith+ Gordon Gill Architecture, with interiors by Rottet Studio, Central Park Tower will redefine the famed NewYork City skyline. The transparent and delicately designed base facade allows for natural light to illuminate the department store interior. Above the base, the tower begins to setback from the street edge and yield unprecedented views of Central Park, the city and beyond.

TechTalkGuy Aug 9, 2016 5:08 AM

Normally, I could care less about another department store, but this one I might actually look forward to shopping at. ;)

Speaking of 131 floors:
I approve this message. :D

NYguy Aug 15, 2016 2:06 PM

http://rebusinessonline.com/extell-d...for-3-billion/

Extell Development, SMI to Develop 131-Story Central Park Tower in Manhattan for $3 Billion

AUGUST 12, 2016
BY CHRISTINA CANNON


Quote:

A joint venture between Extell Development Co. and SMI USA, the US subsidiary of Shanghai Municipal Investment, has unveiled plans to develop Central Park Tower, a $3 billion residential and commercial tower in Manhattan. When complete, it will be the tallest residential building in the Western Hemisphere, according to the developers.



http://www.bloomberg.com/news/articl...ash-at-a-price

Extell’s NYC Luxury Condo Project Gets Needed Cash -- at a Price


OshratCarmiel
August 14, 2016


Quote:

In a bid to keep its planned Central Park Tower afloat, Extell Development Co. agreed to a deal that might one day force it to part with the luxury condo project.

A joint venture with China’s SMI USA to build the $3 billion skyscraper on Manhattan’s Billionaires’ Row comes with a deadline: If a construction loan isn’t obtained by May 24, SMI can require Extell to buy out its stake in the partnership -- about $300 million -- with interest. And if Extell fails to do that, SMI can push the developer to sell the entire project, according to documents filed last week on the Tel Aviv Stock Exchange, where Extell sells debt to investors.

“If I thought there was a more than 1 percent chance of that happening, I wouldn’t put that in there,” Extell’s president, Gary Barnett, said in an interview. “We’re going to get the construction loan.”

.....The agreement buys the partners more time to find financing, after the $285 million senior mortgage on the project, held by Blackstone Group LP, came due on Aug. 9. The joint venture will use some of its proceeds to pay $50 million of the outstanding debt and extend the remainder of the loan to December, the filings show.

Extending the loan until it can be refinanced, rather than paying it off and taking out a new one, means the developers can avoid paying a second mortgage-recording tax of 3 percent, Barnett said.

“By having another year and more resources to continue building, it potentially will be easier -- if they’re 20 stories out of the ground -- to convince banks to give a construction loan,” said Eisenberg, who analyzed Extell’s filings but doesn’t advise the firm.

The building, at 225 W. 57th St., is slated to be New York’s tallest residential property, at 1,550 feet (472 meters), and will house the city’s first Nordstrom store at its base. The tower has already reached 300 feet, Barnett said in the interview.

Extell expects to start unit sales later this year and to complete construction in 2019, according to a statement last week announcing the partnership with SMI.

colemonkee Aug 15, 2016 5:40 PM

Say what you will about the tower's design (I for one think it's just fine), but Gary's taste in ties borders on criminal.

Quote:

Originally Posted by chris08876 (Post 7518760)


ChargerCarl Aug 15, 2016 10:28 PM

I know some of you guys are disappointed, but I gotta say I really like the design. NYC is amazing.

chris08876 Aug 16, 2016 12:21 AM

O nice. At 300 ft.

Quote:

The building, at 225 W. 57th St., is slated to be New York’s tallest residential property, at 1,550 feet (472 meters), and will house the city’s first Nordstrom store at its base. The tower has already reached 300 feet, Barnett said in the interview.
Only 1/5 the way up...

:skyhighmind:

gttx Aug 16, 2016 12:03 PM

Quote:

Originally Posted by colemonkee (Post 7531356)
Say what you will about the tower's design (I for one think it's just fine), but Gary's taste in ties borders on criminal.

I was thinking the exact same thing! But I guess if you are a billionaire, you probably don't care what people think of your tie.

PeterQM Aug 17, 2016 5:05 PM

Extell Partners With SMI to Develop Central Park Tower
 
Extell Partners With SMI to Develop Central Park Tower
August 12, 2016
https://www.cityrealty.com/nyc/marke...ark-tower/5321

Quote:

The rumors are true: Extell Development Company has officially partnered with SMI USA, the United States subsidiary of Shanghai Municipal Investment, in a joint venture to develop the to-be tallest mixed-use residential building in the Western Hemisphere. Dubbed Central Park Tower, it will stand at 225 West 57th Street on Billionaire’s Row in Midtown. The skyscraper will soar 1,550 feet in the air, and cost a hefty $3 billion.
https://ds1.cityrealty.com/img/5d86a...a78+1004++0+60

https://ds2.cityrealty.com/img/7dd9a...1dc+1004++0+60

https://ds1.cityrealty.com/img/6adb3...9c7+1004++0+60

More info and images in the post here.

N830MH Aug 18, 2016 5:39 AM

Quote:

Originally Posted by antoun (Post 7525295)
WTF 131 stories ?????

Yeah! That's very high. I don't want to get sick.

TechTalkGuy Aug 19, 2016 12:40 AM

I like that guy! :D
He has more chutzpah than Donald Trump. :tup:

HiRiser Aug 22, 2016 4:16 AM

That freaky slab edge would indicate an equally freaky facade!

hotwheels Aug 22, 2016 6:06 PM

Crews Assembling Lower Levels of Supertall Central Park Tower

Quote:

New York City is already known worldwide for its abundance of skyscrapers characterized by a variety of architectural styles. Supertalls like 432 Park Avenue and 111 West 57th Street are rejigging the Manhattan skyline — a result of limited land, a strong luxury residential market, and towering ambitions. Extell Development Company is one of the firms at the forefront of this transformative trend. Their 95-storey Central Park Tower is slated to reach dizzying heights of 473 metres (1,550 feet) upon completion in 2019.


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