Extell Development Company Announces $1 Billion in Sales at ONE57

RECORD-BREAKING SALE AT PENTHOUSE

NEW YORK, May 18, 2012 /CNW/ - Extell Development Company announced today that ONE57, slated to be the tallest residential building in New York City, has reached a record milestone of $1 billion in sales and is 50% sold since launching just six months ago. The 90-story glass tower, which is expected to top off this July, also announced a record-breaking penthouse sale.

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"Our buyers are visionaries who recognize the building's value, and are confident enough to buy off of floor plans at premium prices," said Gary Barnett, President of Extell Development Company. "We're seeing buyers from as far as Hong Kong to as near as Fifth Avenue."

Rising over 1,000 feet on West 57th Street, the Christian de Portzamparc-designed building will feature 92 ultra-luxury condominium residences above a five-star Park Hyatt hotel. Envisioned by a team of world-class talent, this architectural masterpiece will provide residents with breathtaking, unobstructed views of Central Park to the North, the famed Manhattan skyline to the South, and both Hudson and East Rivers. Interiors have been meticulously designed by New York-based Danish designer Thomas Juul-Hansen.

"This is an iconic building that has set the bar for luxury living in New York City," added Barnett.

The ONE57 Sales Gallery located at the historic Fuller Building at 41 East 57th Street and Madison Avenue has been designed to represent the exquisite space and quality materials available within the 90-story mixed-use hotel and condominium tower. Homes start at $16.75 million. Occupancy is slated for 2013. For more information, visit www.one57.com or contact [email protected].

About Extell:
Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, commercial, retail, hospitality and mixed-use properties, operating primarily in Manhattan and other premier cities across the nation. For more information, visit www.extelldev.com.

About ONE57:
ONE57 is located at 157 W 57th Street in the heart of New York's famed Plaza District across from Carnegie Hall. Homes at ONE57 will feature gracious dimensions and soaring ceiling heights, along with numerous custom details and materials of the highest quality. ONE57 will offer the "Extell Choice," a unique value proposition allowing buyers to choose from a fine selection of finishes, design and layout packages to tailor homes to individual tastes.

Poised above a five-star Park Hyatt hotel, ONE57 residents will have full access to Park Hyatt's exclusive amenities and hotel services. Additional residential amenities will include a 24-hour doorman and concierge, screening and performance space, on-site parking, triple-height indoor swimming pool and custom Jacuzzi, library, catering kitchen, and private fitness center.

SOURCE Extell Development Company

Anna Crowley, [phone], [email protected], or Anna LaPorte, [phone], [email protected], both of Rubenstein Associates, Inc.

http://www.extelldev.com

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