Inside The Tallest Penthouse In The US

[Music] soon new york will open the doors to the biggest residential building in the world beating out its nearest large rivals which are also based in the same city this massive building is the central park tower a building that caters to the rich in the empire state today we're going to examine this amazing building such as the history of it being built the cost of creating it the luxurious facilities available as well as just how much money you'd need to spend to buy an apartment within these exclusive walls including the mysterious and extravagant penthouse so let's get started starting in 2005 extel development companies started purchasing land on west 57th street in manhattan new york not long after extel started to spend cash on air rights these rights give developers access to the space above the ground something which is required when designing a skyscraper over the years they bought more land and more air rights by 2012 news broke that the company adrian smith and gordon gill architecture were designing the plans to create what would later be the tallest residential property in the world the architects are also responsible for the jetta tower in saudi arabia in the same year the luxury department store nordstrom made a deal with the developers they would have access to the first five floors and two basement levels all together providing nordstrom with 285 000 square feet within their store they'll also be six bars and restaurants the down payment came to a whopping 102.5 million dollars this deal gave the tower the nickname the nordstrom tower by 2014 the developers began excavating the site on billionaire row the following year the construction got properly underway by the 17th of september 2019 the central park tower was topped out this is when the final beam is placed at the top of the building the tower now stands at 1 550 feet tall surpassing its new york rival 111 west 57th street which currently stands at 1 428 feet in october of 2019 the nordstrom levels were open to the public however central park tower still had more construction to do to its residential floors due to the current global events the building work was halted in march of 2020 when it's finally completed the tower will have 131 floors altogether 98 of which are residential there's currently plans for 179 apartments all together the residents also won't need to use the stairs when traversing the levels if they don't want to the tower is said to contain 11 elevators to make it easy as possible to get around a project of this scale doesn't come cheap adding together all of the costs of the building labor materials and air rights extel is said to have spent 2 billion to create the central park tower this fee included a loan of 900 million dollars from jpmorgan chase an investment bank originally the developers had plans to sell nearly 4 billion worth in apartments but with the fall in property value recently it's unlikely they'll reach that level according to experts however extel is still likely to make a big profit with a building as tall as this there are bound to be some safety features to help keep people away from danger as well as add a sense of security one of these features is that no balconies have been installed in the residential areas especially with those floors near the top having a balcony could potentially lead to people accidentally falling from a great height instead the building is covered with a glass curtain wall it helps keep people safe as well as protects residents from the weather some floors do have terraces to allow a bit of open-air enjoyment for security reasons the central park tower has a full-time doorman installed on the grounds they act as a gatekeeper of sorts for those looking to enter the building but they also provide more traditional security measures for those in the building set to cover two floors below ground the garage for the tower is massive all residential and service vehicles are monitored when approaching the underground garage all together there are over 400 spaces available for car parking when creating a tall building one of the big dangers is if something falls from the top of it in december of 2019 the central park tower had ice falling from the top of the building this ice can reach 70 miles per hour as it rapidly descends one man was struck in the head by the ice he survived the experience the reason for the falling ice was due to one side of the tower not getting enough sunlight so the ice wasn't melting fast enough yet the metal and glass were being heated which created a slick surface as such piles of ice would slide off the high structure some nearby buildings and vehicles also experienced some light damage from the ice crashing down in order to keep people safe parts of the nearby street were closed off due to the hazard the department of buildings for new york temporarily halted construction of the tower until the ice was cleared and can no longer endanger pedestrians below on top of the safety features there are also lots of features to keep residents entertained and relaxed as well as facilities for those looking to conduct some business one of the main attractions is the club this facility takes over three floors of the tower with 000 square feet one section of the club includes a large terrace on the 14th floor there's a 60-foot swimming pool a sundeck and cabanas that serve food and drink the club also features a spa that includes services such as massage gyms personal trainers a basketball court and body and facial treatments there are also gardens located within the club as well as a private cinema and conference rooms in order to cater for the ultra wealthy living among them the tower will also host the private club known as the 100th floor the 100th floor spans 3 levels with a total amount of 50 000 square feet some of the features of this elusive club include a 126 person private ballroom dining rooms a bar a full-service kitchen and wine and cigar lounges due to the current halton construction the penthouse hasn't been completed or been released as available for purchase just yet however the developers have incredible plans for it the penthouse will take over three levels from floor 129 to 131 it will have six bedrooms 11 bathrooms a private ballroom an outdoor terrace a sweeping staircase and staff quarters the penthouse is said to cover around 15 069 square feet altogether the exact cost of the penthouse is unknown at the moment however during 2017 it was estimated to be worth 95 million dollars yet over the years a number of similar sales within new york increased the estimated price by rather a lot in 2019 the penthouse at 220 central park south was sold for a stunning 238 million dollars in the same year the two penthouses at 432 park avenue were sold for 30.7 million and 30.2 million dollars respectively for a total of 60.9 million dollars altogether with these prices in mind and the vast size of the central park tower penthouse there were estimates that their prized apartment could be sold for at least 200 million dollars however then the global event kicked in as such the price is likely to drop significantly due to the market dipping beyond the apartment at the very top central park tower has a small number of their other residencies on the market already as of the making of this video the cheapest department will still make most people's eyes water within 1897 square feet the apartment 33d has two bedrooms two bathrooms two walk-in closets a powder room a kitchen and a dining room this will set you back 6.5 million dollars the same design is expected to be used on both the 33rd and 34th floors the next apartment is 80e this residence has 4295 square feet of space to enjoy the same design is set to be used between floors 78 and 86 this design has four bedrooms four bathrooms three walk-in closets a powder room a grand salon and a family room attached to the kitchen a property like this will cost you a little over 33 million dollars the priciest living quarters is on floor 113 for 7 074 square feet there's five bedrooms five bathrooms four walk-in closets a powder room a grand salon a sitting room a family room attached to the kitchen a library and three galleries the master bedroom even has its own dressing room attached to it the plan is to have numerous properties similar to this spread between floors 110 to 125 for this touch of luxury you can be expected to spend 63.25 million dollars better start saving now and that's it would you want to stay in this tall building or our heights not your thing let us know in the comments if you enjoyed the video and want to see more please like share and subscribe all of these actions really help us out finally thanks for joining us today we'll see you next time

Channel: TheRichest

Views: 176,802

Keywords: Tallest Residential Building In The World, Central Park Tower, Nordstrom Tower, Jeddah Tower, Highest Penthouse, Luxury Apartments, Worth Millions, Safety Features, The Club, The 100th Floor, Manhattan Billionaires Row, TheRichest, billionaires row

Id: AQZ0qsu_XHk

Length: 8min 51sec (531 seconds)

Published: Tue Oct 06 2020