The Nordstrom Tower finally has all the approvals necessary to begin construction. And with new plans submitted to the city, the tower at 217 West 57th Street is now expected to rise 1,550 feet, as it glides to a pointed peak above the skyline. The 85-story building will be just up the street from One57, while construction has already risen above 750 feet on the 1420-foot condominium tower at 432 Park Avenue. When this new 1,550 foot project is completed in 2018, it will rank second only to One World Trade Center, among the city's tallest buildings.
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Extell Development is gearing up to build one of the tallest towers in the city, one that would offer sweeping views of Central Park a block to the north. The company is aiming high: a new 1,550-foot tower on the site just east of Broadway between 57th and 58th streets.
Plans for the building are moving forward quickly at a time that a new type of skyscraper is beginning to emerge on the Manhattan skyline.
For decades, office towers accounted for most of the towers built more than 600 feet high, while top residential apartments were generally found in Upper East Side cooperatives.
But now a handful of developers are building very tall, slender luxury residential towers, betting that the wealthy will pay for great views.
Extell, currently one of the city's most prolific developers, has been on the vanguard of this change.
A few blocks east of the Nordstrom tower site on 57th Street, the company is completing work on One57, a 1,004-foot tower, where two buyers have agreed to pay more than $95 million each, for two penthouse apartments there, a record price.
Just down 57th Street, construction of the 1420-foot condominium tower at 432 Park Avenue has already risen above 750 feet.
As with all skyscrapers, it's the economics that makes them possible - and it is a strong market. Moreover, In Manhattan particularly, people are willing to pay a great deal—millions and tens of millions of dollars for apartments in the sky. There is a huge market for that.
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Since October 1, 2011
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