(NEW YORK, NY)— New York City has seen an array of tall skyscrapers but Central Park Tower will go down as the world’s tallest residential building following its opening in 2020. The $3 billion development sits at 472 meters, 131 stories, and 179 units. Located on West 57th Street or ‘Billionaires Row’ the luxury development faces a series of competition regarding the development of 111 West 57th Street and the real estate market.
Extell Development Co. President Gary Barnett told ABC News “Central Park Tower is entering an oversupplied market, we have to price it at a reasonable range for this type of product.” Sales began early this year, ranging from $6.9 million for a two-bedroom on the 33rd floor to $63 million for a five-bedroom on the 112th floor. Following its completion, the Central Park Tower will include a triplex penthouse, the base will hold a seven-floor Nordstrom flagship. Amenities in the tower include a 60-foot indoor lap pool, a screen room, a cigar room, a fitness center, and a 15,000 square foot terrace
In a press release by Extell, the Central Park Tower is said to “combine elements of glass, satin-finished stainless steel, and light-catching vertical and horizontal details that accentuate the interplay of textures and light.”
Closings are expected to take place early next year.