Extell Secures $380M Loan For Central Park Tower Condominium In Midtown

217 W 57th St, Manhattan, New York, NY, USA

$380,000,000

$432/SF

Building Size

878,615 SF

Asset Type

—

Closing

Jan 24, 2021

AI

The Central Park Tower, located at 217 W. 57th St. in Midtown, is a luxurious condominium building consisting of 179 units. Developed by Extell, the building boasts impressive architecture designed by ASGG Architects. This iconic building is the second tallest skyscraper in the US and required a staggering $3 billion investment for construction.

Summary of transaction details

Property Type: Condominium
Transaction Amount: $380,000,000
Lender: Sail Harbor Capital & Baupost Group
Brokers: Adam Spies, Doug Harmon & Adam Doneger - Cushman & Wakefield

The loan for the Central Park Tower was secured through a partnership between Sail Harbor Capital and Baupost Group. The brokers responsible for the deal were Adam Spies, Doug Harmon, and Adam Doneger from Cushman & Wakefield.

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