57th Street Supertowers: A 'Disaster'?
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Several of the top names in luxury condo development have a lot to say about the ultra-luxe projects along 57th Street. Extell founder and president Gary Barnett says his projects on the corridor—One57 and 225 West 57th St—will weather the slow sales that Minskoff Equities founder and president Ed Minskoff calls a “disaster.” Just one unit at One57 sold in Q3 2014 and three all of last year, the Commercial Observer reports. Related CEO Jeff T. Blau says, “We had some opportunities to do basically the buildings that are going up now,” referring to projects like One57. “We passed.” [CO]