While prices for real estate in much of the rest of the country continue to drop, Extell has raised its asking prices. The lower penthouse, for instance, originally was listing for $110 million.
While these prices seem to soar as high as the building itself, real estate industry observers say they are reasonable when compared to the rest of the New York City luxury residential market. For instance, Sanford I. Weill, the former chairman and chief executive of Citigroup Inc., sold his penthouse at 15 Central Park West, a few blocks north of One57, last February for what was at the time a record, $88 million. One57's upper penthouse, covering nearly 11,000 square feet, sold for $2 million more, but its price per square foot was less-$8,240 versus $13,000 for the Weill penthouse.
"When you consider the dollar-per-square-foot price, it's very efficient," Tubb says. "It's lower than much of the retail market right now." And for $9,000 or $10,000 per square foot, the views are far superior, he adds. "The floor plans are resonating with buyers," Tubb says. "The price point is resonating."
When completed next year, One57 will be the sixth- or seventh-tallest building in the city, depending on whether the height of antennae or radio towers are included. (One57 will have neither.) It will eclipse the dark glass Metropolitan Tower (716 feet) and brick Carnegie Hall Tower (757 feet) across the street, as well as the domed CitySpire Center (814 feet), a block away.
Securing The View
Extell's tower is usurping some of the views of Central Park that those in the Met Tower used to enjoy. To try to prevent its buyers from suffering a similar fate, at least to the east and west, Extell purchased some air rights in those directions, says Tubb. To the east, the view includes the East River, the borough of Queens and the Citigroup Center. To the west lie the Hudson River, New Jersey and the Time Warner Center towers. The southern view includes the Empire State Building, the Chrysler Building and the still-under-construction Freedom Tower. From the upper floors, the Statue of Liberty is visible as you look south. The view that One57's sales force is touting is the one that lies to the north-of the expanse of grass, trees and ponds offered by New York City's iconic Central Park. The red neon sign atop the 42-story art deco Essex House hotel on Central Park South obstructs the park view from One57's lower levels, but higher up, the high-rise's views of the park are unobstructed.
"There's never been a building of this caliber with this view of the park," Tubb says.
The building is meant to give the impression of a cascading waterfall that seems to emanate from the heavens, according to Extell. Its multi-shaded pixelated blue glass will reflect the different hues of the sky and clouds, giving the illusion of fluidity.
Christian de Portzamparc, a Frenchman who won the prestigious Pritzker Architecture Prize at age 50, designed the building. His creations include The City of Music in Paris and Hergé Museum in Louvain-la-Neuve, Belgium. De Portzamparc also designed the postmodern glass LVMH Tower a few blocks up on East 57th Street, where a Christian Dior boutique is located. The interiors of the residences are the work of another top architect, Thomas Juul-Hansen. Born in Denmark, Juul-Hansen specializes in sophisticated modern luxury. His floor plans are designed to emphasize space and openness, with rich finishes meant as an "expression of discreet opulence," according to Extell.
The windows in each of the units stretch from floor to ceiling, a design meant to highlight the expansive views of the city. In the penthouses, the view will be something of a vista, with windows spanning to a width of as much as 23 feet.
A Range Of Options
Owners who purchase off a floor plan have the luxury of choosing between rosewood and white oak flooring, as well as personalizing their kitchen and bathrooms. Larger units have kitchens with a double dose of appliances, including two refrigerators, two ovens, two dishwashers and two stoves that vent directly to the outside of the building. They also include a wine cooler and a built-in coffeemaker that grinds the beans for each cup individually. Juul-Hansen designed the silver handles on all the kitchen cabinetry.