Luxury New York Residences Reach $1 Billion in Sales

By Paul Joseph

ONE57, slated to be the tallest residential building in New York City, has announced that it has broken the $1 billion barrier in sales of its ultra-luxury condominiums.

Rising over 1,000 feet on West 57th Street, the 90-story glass tower, which is expected to top off this July, also announced a record-breaking penthouse sale.

The Christian de Portzamparc-designed building will feature 92 ultra-luxury condominium residences above a five-star Park Hyatt hotel. It will offer unobstructed views of Central Park to the North, the famed Manhattan skyline to the South, and both Hudson and East Rivers.

Gary Barnett, President of Extell Development Company, said: “Our buyers are visionaries who recognize the building’s value, and are confident enough to buy off of floor plans at premium prices.

“We’re seeing buyers from as far as Hong Kong to as near as Fifth Avenue.”

The residences’ interiors have been designed by New York-based Danish designer Thomas Juul-Hansen.

Homes at ONE57 start at $16.75 million. Occupancy is expected to begin in 2013

By Paul Joseph