One57 Facts for Kids

Quick facts for kids One57
(May 2014)
General information
Status	Complete
Type	Residential condominiums and hotel
Architectural style	Modern
Location	157 West 57th Street Manhattan, New York City
Coordinates	40°45′56″N 73°58′45″W / 40.7656°N 73.9791°W / 40.7656; -73.9791
Construction started	April 2009 (2009-04)
Completed	2014
Cost	US$1.5 billion
Height
Roof	1,345 feet (410 m)
Top floor	902 feet (275 m)
Technical details
Floor count	73 (+2 below ground floors)
Floor area	853,567 square feet (79,299.0 m²)
Design and construction
Architect	Christian de Portzamparc
Developer	Extell Development Company
Structural engineer	WSP Group
Main contractor	Lend Lease Project Management & Construction

One57, once called Carnegie 57, is a very tall skyscraper in New York City. It stands 75 stories high, reaching about 1,005 feet (306 meters). This building is located in the Midtown area of Manhattan, on 57th Street.

One57 is special because it combines two main parts. It has 92 luxury apartments called condominiums. Below these homes, there is a new Park Hyatt Hotel with 210 rooms. The building was designed by Christian de Portzamparc and built by Extell Development Company. It was one of the first super-luxury towers on a street known as Billionaires' Row.

The developer, Gary Barnett, started buying the land for One57 in 1998. Construction began in 2010 and finished in 2014. During its construction, there were a couple of incidents, including a crane problem and a small fire. When it was completed, One57 was the tallest residential building in New York City for a short time. It was later surpassed by 432 Park Avenue.

One57 became famous for selling some of the most expensive homes in the city. However, the prices of these luxury apartments started to change in the late 2010s. The building's design, especially its outside look, also received some mixed reviews after it was finished.

Location of One57
Building Design
- Outside Look of One57
- Inside Spaces
Building History
Gallery
Images for kids
See also

Location of One57

One57 is located in the Midtown Manhattan neighborhood of New York City. It is just south of Central Park, a famous large park. The building sits between Sixth Avenue and Seventh Avenue. It has entrances on both 57th Street and 58th Street.

The land where One57 stands is about 23,808 square feet (2,212 square meters). The side facing 57th Street is about 106 feet (32 meters) wide. The building is close to many other important places. These include Carnegie Hall, a famous music venue, and the Russian Tea Room. One57 is part of a group of very tall buildings near 57th Street and Central Park. This area is often called Billionaires' Row by the media. Other tall buildings in this area include Central Park Tower and 432 Park Avenue.

Building Design

The One57 tower was developed by Extell Development Company. It was designed by the French architect Christian de Portzamparc. The inside spaces were created by New York designer Thomas Juul-Hansen. The very top of the building's roof is about 1,345 feet (410 meters high). The highest floor where people live is about 902 feet (275 meters) up.

Outside Look of One57

The outside of One57 uses both dark and light glass. This creates vertical stripes that make the building look unique. The design also helps to control sunlight and give amazing views. The tower has wavy shapes and different levels that step back from the street. Its windows have a special pattern, and the top of the building is curved. All these features make One57 stand out.

Inside Spaces

The lower part of One57 holds a Park Hyatt Hotel. This hotel has 210 rooms and is a main hotel for the Hyatt brand. The hotel was planned to have a large ballroom, a spa, a swimming pool, a fitness room, and meeting spaces.

Above the 20th floor, the building has 92 condominium apartments. When One57 was completed, the apartments on the top eleven floors were very large. Each of these apartments took up an entire floor. They were listed with starting prices of at least $50 million.

Building History

Early Plans

Gary Barnett, who founded Extell Development Company, started buying land for One57 in 1998. He spent over fifteen years gathering all the necessary properties and air rights. At first, Barnett wanted to build a smaller, 40-story building. But as he bought more land and the market improved, he planned for a much taller building with views of Central Park.

By 2007, Barnett met Khadem al-Qubaisi, who led some investment funds. He agreed to help fund the project. Demolition of old buildings on the site began in May 2007. By November, the demolition was complete. In 2008, it was reported that the site would include a Park Hyatt hotel, shops, and luxury apartments.

Plans for the tower were officially filed in March 2009. The plans described a 73-story tower. It would have 210 hotel rooms on the lower floors and 136 homes on the upper floors. In September 2009, it was confirmed that Christian de Portzamparc was involved in the design. In November, a company called Aabar announced it would help fund the building. This project was one of the first big construction projects in New York City after a financial crisis.

Construction Progress

Work permits for One57 were given in September 2009. The foundation work started in 2009 and took over a year. This was because it was difficult to dig two basement levels and create strong supports for the building. In March 2010, the plans were updated. They added two more floors and combined some apartments into larger duplexes.

In May 2010, the project was named Carnegie 57. It was expected to be finished in 2013. At that time, it was planned to be the tallest residential building in the city. The main construction company, Lend Lease Project Management & Construction, started building the skyscraper's strong columns in August 2010.

In May 2011, the project was officially renamed One57. This name refers to its address, 157 West 57th Street. In October 2011, Extell received a large loan of $700 million to help build the project. Sales for the apartments officially began in December 2011. By May 2012, half of the apartments were sold. This included a very large apartment on the 89th and 90th floors, which sold for $90 million. The main structure of the building reached its top floor by October 2012.

After Opening

By May 2014, about 75 percent of the apartments in One57 were sold. The first apartment was resold in October 2014 for $34 million, which was more than its first price. However, new buildings on Billionaires' Row started to offer competition. This caused sales at One57 to slow down. By 2015, One57 became known as one of the most expensive buildings in the city per square foot.

In the late 2010s, the market for luxury homes in New York City slowed down. To attract buyers, Extell offered new deals. They would pay for some years of common charges and part of the broker's fees. One57 was affected by this slowdown. The average price of apartments went down between 2014 and 2020. This slowdown was made worse by the COVID-19 pandemic in New York City in 2020. Even so, One57 still had one of the most expensive apartments sold in the city in June 2020. An apartment on the 88th floor sold for $28 million.