138 East 50th Street, officially named The Centrale, is a residential building in
Midtown Manhattan
Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Buildin ...
, New York City.
The building consists of 124 condominium residences and of ground-floor retail between
Third Avenue
Third Avenue is a north-south thoroughfare on the East Side of the New York City borough of Manhattan, as well as in the center portion of the Bronx. Its southern end is at Astor Place and St. Mark's Place. It transitions into Cooper Square ...
and
Lexington Avenue
Lexington Avenue, often colloquially abbreviated as "Lex", is an avenue on the East Side of the borough of Manhattan in New York City that carries southbound one-way traffic from East 131st Street to Gramercy Park at East 21st Street. Along it ...
in Midtown East.
The developers planned to sell the condominiums for a total of $535.7 million, or an average of $4.3 million per unit.
History
Extell Development Company
Extell Development Company is an American real estate developer of residential, commercial, retail, hospitality, and mixed-use properties. Founded in 1989 by Gary Barnett, the company’s portfolio exceeds 20 million square feet. The company has ...
purchased the site in January 2012 for $61 million and sold it to Ceruzzi Properties in August 2014.
Initial plans filed in June 2014 indicated the building would be a 52-story, hotel with 764 rooms designed by
SLCE Architects
SLCE Architects is an American architecture firm which provides architectural services in both the public and private sector. Between 2010 and 2015, the firm received the most commissions for residential developments in New York City. The firm is ...
.
However, renderings revealed in September 2015 showed the tower would be a 64-story, condominium tower. In 2015, the developers secured a $65 million loan on the development's land from
Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Limited (ICBC; ) is a Chinese multinational bank.
Founded as a limited company on 1 January 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the ...
.
Construction began in mid-2016 and
topped out
In building construction, topping out (sometimes referred to as topping off) is a builders' rite traditionally held when the last beam (or its equivalent) is placed atop a structure during its construction. Nowadays, the ceremony is often parlaye ...
during November 2017. In August 2017, the developers received a $300 million construction loan from Madison Realty Capital. The building was completed in early 2019.
In February 2020, Korean firm Meritz Securities provided a $350 million inventory loan against the building's remaining unsold condominiums.
See also
*
List of tallest buildings in New York City
New York City, the most populous city in the United States, is home to over 7,000 completed high-rise buildings of at least , of which at least 95 are taller than . The tallest building in New York is One World Trade Center, which rises ...
References
External links
*
The Centrale at the Skyscraper Center
{{Midtown North, Manhattan
2019 establishments in New York City
2010s in Manhattan
César Pelli buildings
Midtown Manhattan
Residential buildings completed in 2019
Residential condominiums in New York City
Residential skyscrapers in Manhattan