SkyscraperPage Forum - NEW YORK | Central Park Tower (Nordstrom)| 1,550 FT

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

NYguy

May 23, 2017 2:22 PM

Quote:

Originally Posted by chris08876 (Post 7810668)

https://scontent.cdninstagram.com/t5...63755264_n.jpg
Credit: Alex Hall

57th Street will be one, sweet canyon.

markus.dörre

https://c1.staticflickr.com/5/4180/3...8783306f_k.jpg

https://c1.staticflickr.com/5/4221/3...6c0d7267_k.jpg

NYguy

May 25, 2017 3:05 AM

Just posting this for the effect. Ignore the other stuff...

http://ricastudio.com/

http://ricastudio.com/wp-content/upl...enHighline.jpg

In this photo, we can see a lot of the towers we envisioned starting to take form on the skyline, including Central Park Tower,
30 Hudson, and 53W53...

Bob Segal

https://c1.staticflickr.com/5/4201/3...6726277c_k.jpg

NYguy

May 29, 2017 12:48 AM

MAY 28, 2017

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Dac150

May 29, 2017 4:31 PM

It seems like full speed ahead now since they built out that cantilever.

chris08876

May 29, 2017 5:09 PM

That photo by Bob Segal, epic. That's the view on the LaGuardia visual landing route. Best angle IMO where the skyline really shows its grandeur.

Quote:

Originally Posted by Dac150 (Post 7818510)

It seems like full speed ahead now since they built out that cantilever.

The cantilever seemed like the major hurdle. Now, its picking up a lot more than in previous months. Steinway seems to be rising somewhat slow, but maybe its because I'm impatient or just distracted with everything else. :shrug:

Although shots with CPS and CPT together, CPS gives the illusion that this rose 40+ floors overnight. I was like yay at first! Photo #12 in Nyguys set.

CCs77

May 29, 2017 5:38 PM

Now there are 6 floors completed above the cantilever. With the formwork already raised to build the seventh.

NYCLuver

May 31, 2017 9:25 PM

May 31st, 2017

http://i802.photobucket.com/albums/y...psvcpcyzsm.jpg
http://i802.photobucket.com/albums/y...pskcpejzve.jpg
http://i802.photobucket.com/albums/y...pskqqftafh.jpg

NYguy

Jun 1, 2017 12:50 AM

Slowly creeping up.

NYguy

Jun 1, 2017 2:25 AM

https://therealdeal.com/2017/05/31/c...-launch-sales/

Central Park Tower, NYC’s first $4B condo, can now launch sales
AG's office greenlights offering plan for Extell's 179-unit project

By Will Parker
May 31, 2017

Quote:

New York City now officially has a $4 billion condo project.

Central Park Tower, the most expensive condominium project in the city’s history, can now launch sales, after Extell Development’s offering plan was approved by the New York State Attorney General’s office.

The tower at 217 West 57th Street, designed by Adrian Smith + Gordon Gill, will feature 179 uber-luxury apartments, with a total target sellout of $4.02 billion. That puts the average unit price at just under $22.5 million, twice as much as the average sales price for an apartment in the top 10 percent of the market, according to Miller Samuel data.

Prior to Central Park Tower, the most expensive offering plan ever accepted was Vornado Realty Trust’s 220 Central Park South. With a $3.4 billion projected sellout, that project was accepted in March of 2015 and a duplex there recently hit the market priced at more than $10,000 per square foot. Hedge fund mogul Ken Griffin is reportedly in contract to buy a spread there for north of $200 million.

A spokesperson for Extell, which is lead by Gary Barnett, did not immediately respond to a request for comment.

Extell’s 1,550-foot supertall has undergone a number of notable changes on its way to its $4 billion ask. It was first floated as Nordstrom Tower, with a rooftop spire that would put the building just a foot shorter than One Word Trade Center. Documents filed on the Tel Aviv stock exchange indicated Barnet was shooting for as much as $4.4 billion in sales. The developer filed an offering plan in July of 2015, only to withdraw it a month later. The tower’s spire was later scrapped– as was the tower’s name (though retailer Nordstrom will still occupy the building’s ground-floor retail). In August, Extell brought in a Chinese equity partner in SMI, which made a $300 million investment.

Lenders on the project include Blackstone, JPMorgan Chase and Fortress Investment Group.

Central Park Tower’s $4 billion target sellout is $1.3 billion more than the price tag of Barnett’s other luxury supertall, One57, where a penthouse sold for $100.5 million in December 2014.

In March, Curbed reported that construction workers began applying a wavy facade to Central Park Tower’s first seven stories. In a call with investors that month, Barnett announced that he had secured $168 million in EB-5 visa funding, had already spent close to $1 billion on acquisition, construction and financing costs, and also announced that the residential portion of the tower would be ready for move in in 2020.

Extell is still in the market for a $900 million construction loan at the project.

gramsjdg

Jun 1, 2017 3:31 PM

I'm assuming that once a certain number of units are sold, the construction loan will just be a formality. I suppose it comes down to the timing more than anything else.

Still hoping the spire gets added back...

manchester united

Jun 1, 2017 7:49 PM

Will be 108 the real floors ( 1 floor =1 roof ) of this tower ?

NYguy

Jun 2, 2017 12:28 AM

Quote:

Originally Posted by manchester united (Post 7822118)

Will be 108 the real floors ( 1 floor =1 roof ) of this tower ?

98

http://a810-bisweb.nyc.gov/bisweb/JB...allbin=1080870

chris08876

Jun 5, 2017 10:30 PM

Pic by me. NYC skyline from afar. Taken 6/2/17.

The super talls will change this view in the years to come.

https://c1.staticflickr.com/5/4258/3...78252409_o.jpg
skyline from afar by Christopher Estevez, on Flickr

Challenge? Can you guess where this is shot from?

Winner gets a cookie I found outside of Newark Penn.

JZeig1

Jun 5, 2017 10:45 PM

Quote:

Originally Posted by chris08876 (Post 7825709)

Pic by me. NYC skyline from afar. Taken 6/2/17.

The super talls will change this view in the years to come.

Challenge? Can you guess where this is shot from?

Winner gets a cookie I found outside of Newark Penn.

Throgs Neck Bridge

chris08876

Jun 5, 2017 10:59 PM

Quote:

Originally Posted by JZeig1 (Post 7825725)

Throgs Neck Bridge

Congratulations, here are the cookies!

https://is2-ssl.mzstatic.com/image/t.../256x256bb.jpg

Just like mom use to make them! Fresh out the oven!

JZeig1

Jun 5, 2017 11:07 PM

Quote:

Originally Posted by chris08876 (Post 7825739)

Congratulations, here are the cookies!

Just like mom use to make them! Fresh out the oven!

SMH Kinda matches your avatar... LOL

NYguy

Jun 8, 2017 12:42 AM

Felix Bosdorf

https://c1.staticflickr.com/5/4210/3...3f21e215_k.jpg

Chris Lin

https://c1.staticflickr.com/5/4263/3...55f5f09c_k.jpg

streetscaper

Jun 8, 2017 2:09 AM

nice, fast progress!

ILNY	Jun 10, 2017 4:49 AM

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https://c1.staticflickr.com/5/4286/3...2370744e_o.jpg

https://c1.staticflickr.com/5/4250/3...949eaafd_o.jpg

NYguy

Jun 12, 2017 3:25 AM

JUNE 11, 2017

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N830MH

Jun 12, 2017 5:05 PM

Wow! Looks great! Keep doing it!!! :tup:

gramsjdg

Jun 12, 2017 7:44 PM

Looks like about 13 floors above the cantilever... :cool:

LouColu

Jun 13, 2017 4:28 PM

Quote:

Originally Posted by gramsjdg (Post 7832318)

Looks like about 13 floors above the cantilever... :cool:

How many feet high now?

NYguy

Jun 13, 2017 8:35 PM

davidb10023

http://scontent.cdninstagram.com/t51...Mjk1Nw%3D%3D.2

lenasnyc

http://scontent.cdninstagram.com/t51...MTg0OQ%3D%3D.2

Trying to have a presence...

Matteo Cortesi

https://c1.staticflickr.com/5/4249/3...5be65b8d_k.jpg

NYguy

Jun 17, 2017 1:56 PM

JUNE 16, 2017

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chris08876

Jun 18, 2017 5:08 PM

Can see it peeking from TS

http://www.earthcam.com/swf/cam_play...7805632688.jpg

NYguy

Jun 23, 2017 9:25 PM

https://therealdeal.com/2017/06/23/e...al-park-tower/

$900M construction loan for Central Park Tower: sources
Financing from JPMorgan-led group allows NYC's priciest condo project to move ahead; one of the biggest loans of this cycle

By Mark Maurer
June 23, 2017

Quote:

Gary Barnett’s Extell Development is finalizing a $900 million construction loan for Central Park Tower, The Real Deal has learned. The financing would allow Barnett to proceed with the ultra-luxury condominium tower at 217 West 57th Street, which is the priciest residential project in New York City history with a $4 billion sellout. It would also be one of the largest condo construction loans of this cycle.

Extell signed a term sheet this week with a group of lenders led by JPMorgan Chase, sources familiar with the matter said. Closing on the loan would end an 18-month quest for financing for the 179-unit, 1,550-foot supertall project, which many real estate insiders bet would never get built.

Representatives for Extell and JPMorgan declined to comment. The loan is the final piece in an intricate capital stack, which includes $168 million in EB-5 funds, a $300 million equity investment from SMI USA, the U.S. subsidiary of Shanghai’s largest state-owned enterprise, and interim financing from lenders such as JPMorgan, Blackstone Group and Fortress Investment Group

ILNY	Jun 23, 2017 10:42 PM

^^^ Great news! Hopefully the tower will pick up speed once the loan is fully approved.

Crawford

Jun 24, 2017 12:37 AM

That $900 million loan completes the financing package, which means full speed ahead and we'll soon be looking up at a new 1,550 ft (or 1775 ft?) Midtown giant.

NYguy

Jun 24, 2017 3:45 AM

That's certainly good news for Extell.

BRANDON NAGLE

https://2.bp.blogspot.com/-BfEnCiZCb...0/DSCN2426.JPG

https://3.bp.blogspot.com/-5pe_PJecJ...0/DSCN2429.JPG

https://4.bp.blogspot.com/-mtcJNb_he...0/DSCN2411.JPG

gramsjdg

Jun 26, 2017 4:59 AM

Great news! That's definitely worth celebrating! :cheers:

The only better news would be a loan stipulation by JP Morgan mandating a 275 foot spire to beat both WTC-1 and the CN Tower. :yes:

excel

Jun 26, 2017 5:24 AM

This is very exiting news.

Zapatan

Jun 26, 2017 6:40 PM

Quote:

Originally Posted by gramsjdg (Post 7845680)

Great news! That's definitely worth celebrating! :cheers:

The only better news would be a loan stipulation by JP Morgan mandating a 275 foot spire to beat both WTC-1 and the CN Tower. :yes:

Hey it's still possible. ;)

While Barnett said he doesn't want to pass the WTC in total height maybe he's just trying to not cause a ruckus.

NYguy

Jun 26, 2017 9:34 PM

Looking down from 220 CPS...

https://www.instagram.com/p/BVcc1Bwh...-by=donski1942

Crawford

Jun 26, 2017 9:41 PM

Quote:

Originally Posted by Zapatan (Post 7846172)

Hey it's still possible. ;)

While Barnett said he doesn't want to pass the WTC in total height maybe he's just trying to not cause a ruckus.

If there's a spire, and it's 1775 ft., I'll be more than happy. It doesn't "need" to "beat" the WTC (though that would be nice), but it does need some type of "top" IMO.

CN Tower is 1815 ft. (for some reason I thought it was a bit higher), but yeah, if they were going to "beat" WTC, might as well "beat" all structures in the Americas, just for kicks.

chris08876

Jun 26, 2017 11:07 PM

https://cdn-standard.discourse.org/u...28174fbf93.jpg
Credit: walpole

gramsjdg

Jun 27, 2017 1:00 AM

It will be interesting to see if construction pace increases or not...

Human Scale

Jun 27, 2017 1:59 AM

Quote:

Originally Posted by Crawford (Post 7846388)

Excuse me for not looking back into this thread for an answer (casual on NYC projects), but why was the spire nixed?? It looked good..

Hamilton

Jun 27, 2017 2:04 AM

^^^Probably because Barnett is a money-obsessed tasteless SOB

NYguy

Jun 27, 2017 2:12 AM

Quote:

Originally Posted by Hamilton (Post 7846656)

^^^Probably because Barnett is a money-obsessed tasteless SOB

Barnett said from the beginning there would be no spire. The spire was a later addition. As far as Extell is concerned, Barnett gets things built, and isn't afraid to build for height (though the height is what brings in the money).

http://observer.com/2012/11/gary-bar...-foot-tower/2/

Quote:

Gary Barnett’s Biggest Blockbuster Yet: 225 West 57th Street, New York’s First 1,550-Foot Tower

Previously, it had been speculated that 225 West 57th Street would top out around 1,250 feet, but Mr. Barnett has pushed beyond that to new heights.

“There won’t be a spire or anything like that, the floors will go all the way to the top, or almost to the top, with some mechanicals above,” Mr. Barnett said. “This is not a gimmick.”

Now, maybe they will add the spire, and maybe they won't.

A little more throwback into how this came to be.

Quote:

One thing that will not be new is the facade along Broadway, the former BF Goodrich building. Because of a deal struck with the city’s Landmarks Preservation Commission in 2009, the old auto building at 225 West 57th can come down, despite the protests of preservationists, but its sibling at 1780 Broadway must remain. A 1920s red brick building, its 12-story facade must be integrated into whatever Mr. Barnett builds. The building will have T-shaped configuration as a result, with section on Broaway, 57th and 58th streets.

What lucky architect gets to design such a multifaceted project? The Observer had heard that Herzog & de Meuron had beat out the likes of Jean Nouvel, Norman Foster and SHoP, but on that count, Mr. Barnett demured. “I’m not going to confirm or deny that, but I wouldn’t print that if I were you,” he said.

Still, Mr. Barnett is taking nothing for granted. When The Observer tried to congratulate him on a new project, and the city’s tallest at that, he responded, “Congratulations are only in order when you’ve finished the building and cashed the last check.”

observatory

Jun 27, 2017 3:24 AM

Dang New York! I can't keep up with all your supertalls. Love & respect from SF.

NYguy

Jun 27, 2017 1:55 PM

Quote:

Originally Posted by observatory (Post 7846757)

Dang New York! I can't keep up with all your supertalls. Love & respect from SF.

It's a task, but one I enjoy. ;) We'll look back on this time and realize how amazing it was, but more importantly that we lived during it.

JDRCRASH

Jun 27, 2017 4:17 PM

Wow seems like she's really flying up now. How many floors per week?