(17 Sep 2019) FOR CLEAN VERSION SEE STORY NUMBER: apus123636
A condominium tower in New York City will be the world's tallest predominantly residential building when it opens next year but will be competing with other ultra-luxury buildings for billionaire buyers.
Extell Development Co. President Gary Barnett said Tuesday that the $3 billion, 1,550-foot Central Park Tower is entering an "oversupplied" market.
He said Extell and its partners will have to be "flexible" in selling the building's multimillion-dollar apartments.
Gordon Gill, one of the architects of the building, said it is an honor to design a new piece of New York's skyline.
"To take our place as part of the history of New York City and to find ourselves in the position of being amongst the great pieces of architecture: Chrysler, Empire State. That is an incredible feeling," said Gill.
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