All Powerful Moderator
central park tower is nice in its own way, but i hear ya on the othersI was looking at the 3 Extell buildings:
Central Park Tower
View attachment 365
1 Manhattan Square View attachment 366
And Brooklyn Point View attachment 367
While I wouldn't necessarily call any of them ugly, they do seem to be a bit unremarkable aside from size/height.
Is Central Park Tower ever going to be the kind of "it" building like 220 Central Park South? I think we discussed before how some buildings get that out of the box and then fade - like Limestone Jesus (15 CPW) and perhaps One57 (which while it had the highest sale in history when it opened never sold out). But now that 217 West 57th St has been on the market for 3 years and never seems to have reached critical mass, what would it take to suddenly catch fire?Extell has never been in the market for doing something architecturally interesting. Interesting cost more money, incrementally on the overall price tag but a sum nevertheless. The question is whether people will pay for it.
Extell’s machine ran fine as long as demand exceeded supply. But as that equation changes, they’ve been on the receiving end of it. The differences between CPT and 220 CPS are incremental cost-wise. But the 2 blocks & differentiated aesthetics seems to have made all the difference.
Think it will. Each era of new dev seems to be defined in some way like that. Im wondering what the development of 2025 is going to look like? the stuff that is being filed now, that wont start building for years to meet new needs?I wonder if at some point in the future they will be looked at the same way "1960s buildings" and then later "1980s buildings" did, along with being priced at discounts sufficient that people bought them simply as value plays because "you get so much for your money compared to the good stuff."
I think this is going to continue being a flop. Take a look at this unit asking nearly $5000 ppsf:Is Central Park Tower ever going to be the kind of "it" building like 220 Central Park South? I think we discussed before how some buildings get that out of the box and then fade - like Limestone Jesus (15 CPW) and perhaps One57 (which while it had the highest sale in history when it opened never sold out). But now that 217 West 57th St has been on the market for 3 years and never seems to have reached critical mass, what would it take to suddenly catch fire?
PS I really don't understand why they can't say whether it's a Sponsor sale. In fact I think they are obliged to
"The condo has not previously been shown, according to the CEO of Corcoran. It’s not clear if the listing is a resale — where the unit owner can set the price as they please — or a sponsor sale, when the developer sets the price and sets the market for other unsold units."
PPS As far as I can tell so of the views advertised by photos in some of the listings can't be the actual view from the unit. This was an issue which came to up at ONE57 when Gary Barnett and Michael Hirtenstein virtually came to blows over Hirtenstein bribing a construction worker to take a video from where the unit he was in contract for was going to be and claimed his actual view would be obstructed by the Essex House sign.
Gary Barnett has returned New York property investor Michael Hirtenstein’s One57 contract and deposit, after Hirtenstein admitted to bribing a construction worker to film the view from what would have been his future apartment, according to the New York Post. Barnett has been strict about not...therealdeal.com
From what I can tell very few actually live there. I would love to see what the occupancy statistics are.I dunno, this one always looked nice to me…
Residents of Troubled Supertall Tower Seek $125 Million in DamagesThe condo board at 432 Park Avenue is suing the developers for construction and design defects that have led to floods, faulty elevators, and electrical explosions.
The condo board at the supertall tower 432 Park Avenue, one of the most expensive addresses in the world, is suing the developers for $125 million in damages, citing multiple floods, faulty elevators, “intolerable” noise caused by building sway, and an electrical explosion in June — the second in three years — that knocked out power to residents, according to a lawsuit filed Thursday.