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73-Story Tower to Rise on 57th Street With Abu Dhabi's Help

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Extell has become so tight-lipped on its planned 73-story condo/Park Hyatt hotel that we keep having to mine international news sources for updates. Already we received word from France that Pritzker Prize-winning starchitect Christian de Portzamparc will design 157 West 57th Street, across the street from Carnegie Hall. Now, via Abu Dhabi's English-language newspaper The National and carrying the byline of New York Sun (R.I.P.) alum Bradley Hope, it's revealed that the project just got a big funding boost. Aabar Investment, a company controlled by the Abu Dhabi government, has paid Extell for a majority stake in the the project, and the deal could be the "start of several property projects in New York" from the Middle Easterners. The Essex House right behind the vacant lot is owned by Dubai's Jumeirah, so maybe this neighborhood should now be called the Emirate?
· Aabar shifts to New York for its latest acquisition [The National]
· 157 West 57th Street coverage [Curbed]

157 West 57th St.

157 West 57th Street, New York, New York 10019