138 East 50th Street
Residential skyscraper in Manhattan, New York
From Wikipedia, the free encyclopedia
138 East 50th Street, officially named The Centrale, is a residential building in Midtown Manhattan, New York City.[1] The building consists of 124 condominium residences and 7,500 square feet (700 m2) of ground-floor retail between Third Avenue and Lexington Avenue in Midtown East.[1] The developers planned to sell the condominiums for a total of $535.7 million, or an average of $4.3 million per unit.[2]
| The Centrale | |
|---|---|
Seen on May 24, 2019 | |
 Interactive map of the The Centrale area | |
| General information | |
| Status | Completed |
| Type | Residential |
| Location | 138 East 50th Street Manhattan, New York |
| Coordinates | 40°45â²21â³N 73°58â²19â³W |
| Construction started | 2016 |
| Completed | 2019 |
| Height | |
| Roof | 803 ft (245 m) |
| Technical details | |
| Floor count | 64 |
| Floor area | 220,639 square feet (20,498.0 m2) |
| Design and construction | |
| Architect | Pelli Clarke Pelli |
| Developer | Ceruzzi Properties, SMI USA |
History
Extell Development Company purchased the site in January 2012 for $61 million and sold it to Ceruzzi Properties in August 2014.[3] Initial plans filed in June 2014 indicated the building would be a 52-story, 502 feet (153 m) hotel with 764 rooms designed by SLCE Architects.[3] However, renderings revealed in September 2015 showed the tower would be a 64-story, 803 feet (245 m) condominium tower.[4] In 2015, the developers secured a $65 million loan on the development's land from Industrial and Commercial Bank of China.[5]
Construction began in mid-2016 and topped out during November 2017.[6] In August 2017, the developers received a $300 million construction loan from Madison Realty Capital.[7] The building was completed in early 2019.[8] In February 2020, Korean firm Meritz Securities provided a $350 million inventory loan against the building's remaining unsold condominiums.[5]