Extell, SMI Join Forces on $3B MXU Central Park Tower

Luxury real estate developer Extell Development Co. is teaming with Shanghai Municipal Investment’s U.S. arm, SMI USA, to develop the mixed-use Central Park Tower. The $3-billion residential and commercial real estate project is located at 225 W. 57th St. in Midtown Manhattan.  When completed, the 1,550-foot-tall Central Park Tower will become the tallest building in New York City.

The structure is scheduled for a 2019 completion, with residential sales beginning late this year. Also taking place in 2019 is the opening of Nordstrom’s flagship store at the development. The retailer signed an agreement with Extell to take space for its first full-line New York location.

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