138 East 50th Street
{{Short description|Residential skyscraper in Manhattan, New York}}
{{Use mdy dates|date=August 2019}}
{{Infobox building
|name = The Centrale
|status = Complete
|image = 138E50thNYC.jpg
|caption = Seen on May 24, 2019
|location = 138 East 50th Street
Manhattan, New York
| mapframe-wikidata = yes
| coordinates = {{coord|40.75590|-73.97190|type:landmark_region:US-NY|format=dms|display=inline,title}}
|start_date = 2016
|completion_date = 2019
|building_type = Residential
|roof = {{convert|803|ft|m|abbr=on}}
|floor_count = 64
|floor_area = {{convert|220,639|sqft|m2}}
|architect = Pelli Clarke Pelli
|developer = Ceruzzi Properties, SMI USA
}}
138 East 50th Street, officially named The Centrale, is a residential building in Midtown Manhattan, New York City.{{cite news|title=Pelli Clarke Pelli-Designed 138 East 50th Street Nears Full Completion In Midtown East, Manhattan|url=https://newyorkyimby.com/2018/12/pelli-clarke-pelli-designed-138-east-50th-street-nears-full-completion-in-midtown-east-manhattan.html|last=Young|first=Michael|date=December 13, 2018|work=New York Yimby}} The building consists of 124 condominium residences and {{convert|7,500|sqft|m2}} of ground-floor retail between Third Avenue and Lexington Avenue 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.{{cite news|url=https://therealdeal.com/2018/05/02/ceruzzis-midtown-condo-will-launch-sales-at-projected-536m-sellout/|title=Ceruzzi's Midtown condo will launch sales at projected $536M sellout|last=Parker|first=Will|work=The Real Deal|date=May 2, 2018}}
History
File:At New York, USA 2017 184.jpg
Extell Development Company purchased the site in January 2012 for $61 million and sold it to Ceruzzi Properties in August 2014.{{cite news|url=https://newyorkyimby.com/2014/06/permits-filed-138-east-50th-street.html|title=Permits Filed: 138 East 50th Street|work=New York Yimby|last=Fedak|first=Nicolai|date=June 18, 2014}} Initial plans filed in June 2014 indicated the building would be a 52-story, {{convert|502|ft|m}} hotel with 764 rooms designed by SLCE Architects. However, renderings revealed in September 2015 showed the tower would be a 64-story, {{convert|803|ft|m}} condominium tower.{{cite news|url=https://newyorkyimby.com/2015/09/revealed-138-east-50th-street-803-foot-tall-midtown-condo-tower-designed-by-pelli-clarke-pelli.html|title=Revealed: 138 East 50th Street, 803-Foot-Tall Midtown Condo Tower Designed By Pelli Clarke Pelli|last=Fedak|first=Nikolai|work=New York Yimby|date=September 9, 2015}} In 2015, the developers secured a $65 million loan on the development's land from Industrial and Commercial Bank of China.{{cite news|url=https://commercialobserver.com/2020/02/ceruzzi-nabs-350m-condo-inventory-refi-from-korean-lender/|title=Ceruzzi Nabs $350M Condo Inventory Refi From Korean Lender|work=Commercial Observer|date=February 20, 2020|last=Burke|first=Mack}}
Construction began in mid-2016 and topped out during November 2017.{{cite news|url=https://newyorkyimby.com/2017/11/pelli-clarke-pelli-designed-138-east-50th-street-tops-out-at-800-midtown-east.html|title=Pelli Clarke Pelli-Designed 138 East 50th Street Tops Out At 800{{prime}}, Midtown East|last=Fedak|first=Nikolai|work=New York Yimby|date=November 22, 2017}} In August 2017, the developers received a $300 million construction loan from Madison Realty Capital.{{cite news|url=https://therealdeal.com/2017/08/02/ceruzzi-scores-300m-construction-loan-for-midtown-east-luxury-condo/|title=Ceruzzi scores $300M construction loan for Midtown East luxury condo|work=The Real Deal|first=Hiten|last=Samtani|date=August 2, 2017}} The building was completed in early 2019.{{cite news|url=https://newyorkyimby.com/2019/05/scoping-out-views-as-sales-launch-for-the-centrale-aka-138-east-50th-street-in-midtown-east.html|title=Scoping Out Views As Sales Launch For The Centrale, Aka 138 East 50th Street, In Midtown East|work=New York YIMBY|last=Young|first=Michael|date=May 21, 2019|access-date=May 21, 2019}} In February 2020, Korean firm Meritz Securities provided a $350 million inventory loan against the building's remaining unsold condominiums.
See also
References
{{Reflist}}
External links
- {{Official website|https://thecentralenyc.com/}}
- [https://www.skyscrapercenter.com/building/the-centrale/16994 The Centrale at the Skyscraper Center]
{{Midtown North, Manhattan}}
Category:2019 establishments in New York City
Category:César Pelli buildings
Category:Residential buildings completed in 2019