Extell's Central Park Tower is now on the rise on Billionaires' Row, with an estimated completion date of 2019. Developer Gary Barnett reported that Extell had secured $168 million in EB-5 funds for Central Park Tower, bringing them closer to the $1.2 billion in total funding the project is estimated to cost. Up to $340 million can be raised via EB-5 funds. Extell also brought in SMI USA, the US subsidiary of Shanghai Municipal Investment, as co-developers on the project. The supertall condominium is located at 225 West 57th street and will rise 1,550 feet. Sales will launch in late 2017, contrary to neighbor 111 West 57th Street, which has pushed their sales launch for their tower until 2018. Central Park Tower will be designed by Adrian Smith + Gordon Gill Architecture, the same team who designed Dubai's Burj Khalifa (2,722 feet), and the world’s future tallest tower, Jeddah Tower (3,307 feet) in Saudi Arabia. The building will feature a 7-story Nordstrom as the feature tenant of the ground floor retail tower.
Hedge Fund & Asset Management Titans Moving to Related Companies' 55 Hudson Yards
Daniel Loeb’s $15B hedge fund Third Point will join Steven Cohen's Point 72 Asset Management at Related Companies’ 55 Hudson Yards. Point 72 signed a letter of intent for 175,000 SF on six floors while Third Point has reserved the top 2 or 3 floors totaling 60,000 - 90,000 SF. 55 Hudson Yards is a 51-story office building built by Related Companies and is designed by Kohn Pedersen Fox. Pricing is between $90-$150 SF and the building will be completed in 2019.
Preview the Over-The-Top Amenities Coming to Rockwell Group & Diller Scofidio + Renfro Designed 15 Hudson Yards
The Rockwell Group and Diller Scofidio + Renfro designed 15 Hudson Yards from developers Related Companies and Oxford Property Group, features no sacrifices when it comes to luxury and an elevated living experience for residents. The developers have dedicated the 50th and 51st floors to be amenities including a 75-foot swimming pool, 3,500 SF fitness center, yoga studio, spa, sound-proof screening rooms, billiards, lounge, private dining rooms, wine storage, a golf simulator and the Atelier, a high-end co-working/ business center space. The building will also feature a High Line level lounge and a rooftop lounge with a fireplace, seating areas and dining space for 18 people. 15 Hudson Yards is the first residential building at the Hudson Yards development. The building will be an 88-story glass condo tower with units ranging from 1 to 4 bedrooms and start at $3.785 million ranging up to $32 million. 15 Hudson Yards is over 25% sold with 75 of the 285 luxury residences having sold for an average price of just under $5 million.
Columbia University to Open New Lenfest Center for the Arts Designed by Renzo Piano on April 22
Columbia University will open its new Lenfest Center for the Arts, which was designed by Renzo Piano, on April 22. The Lenfest Center for the Arts is the school's first dedicated facility for its School of Arts to host performances and events. It is located on Columbia University's Manhattanville Campus and is adjacent to the new Jerome L. Green Science Center. The Lenfest Center for the Arts is 60,000 SF and also features the Miriam and Ira D Wallach Art Gallery. Renzo Piano's architecture firm collaborated with Skidmore, Owings, and Merrill on the master plan for the Columbia's Manhattanville Campus and he has designed many of the buildings including the University Forum and Academic Conference Center.
432 Park Avenue 81st Floor Asking $44.75 Million
After the 80th floor went under contract for $44.25 million, the 81st floor 432 Park Avenue has hit the market for $44.75 million. The supertall is under development from Macklowe and CIM Group and was designed by Rafael Viñoly. The 81st floor unit is 5,421 SF over 4 bedrooms, 6 bathrooms and features views of Central Park and Midtown Manhattan from high-above with all of the finest finishes. The 88th floor has previously closed for $60.89 million and the 85th floor at $65.6 million.
Kushner Companies Explores Bringing Zaha Hadid Skyscraper to 666 Fifth Av
One of the world's premier address', 666 Fifth Avenue has been shrouded with uncertainty as the Kushner Companies look for a large cash infusion to renovate the aging, yet iconic building. Everything from Jared Kushner's new role as a senior top advisor to President Donald Trump to the cashflow issues on the property have caused snags and confusion. Last week it appeared they had struck a deal with Anbang Insurance Group in order to help reconstruct the building into a supertall tower designed by Zaha Hadid, although talks have seemed to stall. Kushner Companies plans to move ahead with their plan to build a Zaha Hadid designed supertall at 666 Fifth Avenue with Anbang on board or not. The new proposed tower would be 1,400 SF tall and would require stripping the current structure down to the inner steel core at points to add an additional 40 floors. The project would include ultra-luxury condos which would sell for up to $6,000 SF, a hotel and over 500,000 SF of retail. Construction is expected to begin in 2019 pending the financing is sorted out and completion could be as early as 2025.