Central Park Tower - 217 West 57th St

30, Will depend on the offering price. If Central Park high floor view is $4k per sq ft, it will sell fast as 157 w 57 is $5k plus for park views.

Btw, do you have any info of total cost including soft costs and marketing cost?
My guesstimate per sellable sq ft is
Land 1500
Construction 750
Soft cost and carrying cost 500
Marketing 300
Appx 3000 sq ft.

I have not been able to find the state square footage of the residential portion anywhere, but using the project total square footage of 1.3 million square feet minus the stated square footage of the Nordstrom's of 363,000 square feet leaves 937,000 square feet. Will a stated sellout price of $4.4 billion, the gives $4,696 per square foot as the average price. I assume a high floor with Central Park views will be higher than the average.

Supposedly the cost to build will be $2.98 billion, but I don't see anywhere what they are including in that. I doubt it's including things like interest on construction loans and it may not include land acquisition costs or soft costs.

Believe $2.98 is all inclusive putting it at $2300 per sq ft. May not include marketing. Assuming 20% is not sellable. It gets to $2800 per sq ft average cost.

How about $7,106 a foot?
https://ny.curbed.com/2017/7/7/15933586/central-park-tower-floorplans-pricing

They must know something we do not. I am guessing you can assume 20% discount right away as is the case with 432 Park Avenue. That still brings it down to $5500 per sq foot. I think a tough sell given the other supply.

Looks like SE is a little slow on the uptake.
https://ny.curbed.com/2019/5/17/18629585/extell-central-park-tower-new-york-building-listings

Looks like a lot of it over $6k/SF?

Does anyone have a handle on how many are in contract?

https://www.yahoo.com/amphtml/lifestyle/nordstrom-notifies-landlords-pay-only-143542923.html

Anyone have a handle on what the percentage sold is after 3 years on the market?

"A representative for the developer did not respond to questions from TRD about contract volume to date — developers are not required to report such figures publicly — but Extell said in a statement that closings are expected to begin by the end of the year."

Anyone know how many sold in the last 3 years vs how many they need to sell in the next 2 months?

https://therealdeal.com/2020/10/21/extell-brings-on-corcoran-sunshine-to-help-market-central-park-tower/