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Extell's 75-Story Midtown Condo/Hotel Finally Revealed!

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Maverick developer Gary Barnett is finally opening up about his 1,005-foot-tall Park Hyatt hotel and "ultraluxury" condo building on 57th Street across the street from Carnegie Hall. He tells the NYT's Charles Bagli that the tower, designed by French starchitect Christian de Portzamparc and slated to pass the Trump World Tower as the tallest residential building in the city, will be called Carnegie 57. Oh, and hardcore construction will begin in just three weeks, with the finishing touches expected 2013, when Barnett foresees a much stronger housing market that will quickly snap up apartments priced in the 15 Central Park West realm. You know what that means: Since A-Rod swaps apartments like companions, expect him to bat cleanup in the building's residents' directory.

The foundation is already poured for the formerly secretive project, which is being partly funded by investors in the Middle East. Previous reports have said the building turns residential above the 20th floor, and the penthouse duplex will be on floors 71 and 72 (though the elevator will go up to a 75th-floor roof above some mechanicals). It's the biggest residential project to break ground since the downturn, and Barnett knows it's risky business. Still, he expects there will be a "dearth" of super high-end product by the time this glassy bad boy is dominating the southern view from Central Park (and looming over the Essex House's rooftop signage). Gut reactions, anyone?
· Building a Tower of Luxury Apartments in Midtown as Brokers Cross Their Fingers [NYT]
· Park Hyatt coverage [Curbed]