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Extell's Pricey Carlton House Conversion Shows Itself

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[Renderings via the Carlton House website, credit: dbox 2013]

It's been more than a year since we heard anything interesting about Extell's condo conversion of the Helmsey Carlton House hotel, so we were delighted to learn that Extell papa bear Gary Barnett shared a slew of new deets with the Times. The most tantalizing details? The building will have a 9,000-square-foot duplex penthouse and a five-story, 10,000-square-foot townhouse with 5,000-square-feet of outdoor space, both of which will be listed for $65 million. Both structures are new builds; the penthouse consists of a two-story addition and the limestone townhouse will rise beside the main building on 61st Street. All 69 units will be ready for occupancy next summer, and contracts have already gone out on 40 percent of the homes.

The entire conversion costs a whopping $350 million ("It is actually more expensive than if we tore the damn building down and built it again," said Barnett), a price that reflects just how complicated a conversion it has been. Extell hired architecture firm Beyer Blinder Belle for the project, which required moving the entire building's core of elevators and stairs further to the back, reinforcing the structure, and refurbishing the facade by removing air conditioners and filling in the holes with similarly colored brick.

The Times aptly describes the Katherine Newman-designed interiors, seen in the gallery of renderings above, as "elegant but unspectacular"?open kitchens, 24-bottle wine coolers, lacquered cabinets, glass panels, etc. The most popular homes have been 1,450-square-foot two-bedrooms asking between $4 million and $5 million.

Barnett also dropped some intel about his crown jewel, One57. Another contract has gone out for a full-floor unit (perhaps to a Chinese two-year-old) , leaving just two full-floor homes left. The largest unit still available is #87, asking a cool $10,700/square foot or $67 million.
· The High-Wire Act Called Conversion [NYT]
· Carlton House coverage [Curbed]
· Carlton House [official]

The Carlton House

680 Madison Avenue, New York, NY 10065