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One57

One57 is a 75-story supertall skyscraper standing 1,005 feet (306 meters) tall at 157 West 57th Street in , . Completed in 2015 by developer to designs by French architect in association with SLCE Architects, the building features a base occupied by the Park Hyatt New York hotel and 132 luxury condominium residences above, offering panoramic views of and the city skyline. Upon completion, One57 held the distinction of being New York City's tallest residential building and the first supertall structure (over 1,000 feet) erected in the city since the 1970s, marking the onset of the ultra-luxury "Billionaires' Row" corridor along 57th Street characterized by record-breaking condominium sales. Early sales included a duplex penthouse that fetched over $100 million in 2015, establishing benchmarks for high-end real estate transactions in the United States at the time. Construction faced significant challenges, including a partial crane collapse during in October 2012, when high winds caused the boom to snap and dangle precariously from the upper levels for several months, necessitating evacuations and specialized removal operations before work resumed. An attributed the failure to in securing the crane against storm forces, highlighting risks in high-rise construction amid .

Site and Location

Urban and Geographical Context

One57 is situated at 157 West 57th Street, between Sixth and Seventh Avenues in , . This positioning places the building in the Midtown West neighborhood, ZIP code 10019, amid a dense concentration of commercial, cultural, and residential structures. The site lies within the informally designated Billionaires' Row along 57th Street, an area featuring multiple supertall luxury residential towers developed in the early 21st century. Geographically, One57 occupies a mid-block lot on Manhattan Island, roughly 0.2 miles south of Central Park's southern edge at 59th Street, enabling upper-level residences to command expansive northward vistas over the 843-acre park. Approximately one block east stands Carnegie Hall at Seventh Avenue and 57th Street, a historic performance venue operational since 1891 that anchors the local cultural landscape. To the west, the building approaches the denser urban grid of Hell's Kitchen, while eastward proximity to facilitates access to high-end retail districts. The location's elevation aligns with Midtown's typical street level of about 30 feet above , integrated into the island's glacial till and bedrock that supports foundations. Public transit access includes nearby stations on the , A, B, , D, , , , and lines, underscoring its centrality in Manhattan's transportation network.

Architectural Design

Exterior Form and Facade

One57 rises as a slender supertall tower to a height of 1,004 feet (306 meters), designed by Pritzker Prize-winning architect . The building's form features multiple setbacks, particularly along the West 57th Street elevation, which create a cascading silhouette emulating a through stepped volumes and curved transitional surfaces accommodating external terraces. These setbacks link the tower's ascending and descending movements, contributing to a dynamic, billowing profile that integrates with Midtown Manhattan's skyline. The facade employs a custom unitized wall system fabricated by Permasteelisa, utilizing high-performance units with low-iron ceramic-fritted panels in varying shades of blue, gray, silver, and black. This cladding articulates the structure's verticality via a continuous surface of and metal, with vertical striations and pixelated patterns that reflect the surroundings and , enhancing the facade's subtle gradient and watery aesthetic. On the southern elevation, the design incorporates vertical bands of in contrasting colors, while curved glazed elements peel outward to shelter terraces and animate the surface. At the base, the facade transitions with wavy vertical strips of and metal, grounding the tower amid adjacent low-rise structures, while the upper culminates in a curved roofline that softens the overall form. The materials prioritize durability and thermal performance, with the curtain wall's unitized panels enabling efficient installation during construction.

Structural Engineering Features

The structural system of One57 employs a frame, combining a central with perimeter columns and walls to resist gravity and lateral loads. The , constructed with high-strength exceeding 14,000 , integrates trusses at select levels to couple it to an architecturally exposed tube system formed by the perimeter elements, enhancing stiffness against the tower's of approximately 1:10. walls and columns utilize advanced high-performance formulations to accommodate the building's tapering form and setbacks, which reduce wind exposure while maintaining structural efficiency. For lateral stability in New York's windy environment, the design incorporates a liquid damping system featuring sloshing water chambers that counter sway through opposing fluid motion, supplementing the inherent damping from the . This approach addresses the challenges of the site's exposure near , where and dynamic wind pressures demand precise tuning. The non-load-bearing curtain wall facade, anchored to the , imposes minimal additional , allowing the primary to prioritize occupant comfort and serviceability limits under gusts up to 100 mph. The foundation comprises a mat slab supported by continuous footings, with and tie-back anchors to stabilize adjacent structures during excavation of three below-grade levels, including one for . This system transfers the 306-meter tower's loads—estimated at over 100,000 tons—to schist bedrock, mitigating settlement risks in the dense urban grid. was led by WSP (formerly Cantor Seinuk), which optimized mixes for pumpability and early-age strength to accelerate amid tight tolerances. Overall, these features enabled One57 to achieve supertall status with minimal material use, balancing economy and resilience without steel in the primary vertical elements above the base.

Interior Layout and Amenities

One57 features a mixed-use interior configuration, with the lower 30 floors occupied by the 210-room Park Hyatt New York hotel and the upper levels from the 32nd to 75th floors dedicated to 92 luxury residences. The residential units, ranging from one- to five-bedroom layouts, incorporate floor-to-ceiling windows for panoramic views, custom cabinetry, and high-end finishes selected by interior designer Thomas Juul-Hansen, emphasizing and spacious open-plan configurations. Exclusive amenities are concentrated on the 31st floor and span approximately 20,000 square feet, including a residents' lounge with a curated library, upholstered billiards table, and 24-foot aquarium; a screening and performance room equipped with a ; and conference and private dining spaces with full catering kitchens. A private fitness center offers personal training, studios, and a dramatic three-story indoor elevated 300 feet above street level, complemented by steam rooms and treatment facilities. Residents also benefit from seamless access to the Park Hyatt's five-star hotel services, such as 24-hour and doorman, a state-of-the-art , Nalai, and additional dining options, enhancing the building's integrated luxury hospitality model without separate entry points for hotel and residential areas. Other shared facilities include cold storage, bike rooms, and parking, supporting a high-end urban lifestyle.

Development and Construction

Planning and Initial Concepts

, led by president , initiated site assembly for the project in 1998 by acquiring multiple parcels and along West 57th Street between Sixth and Seventh Avenues in , culminating in a consolidated lot suitable for supertall development. This process exploited the corridor's R10 district, which permits greater height due to the street's 100-foot width and from nearby landmarks, enabling densities far exceeding standard Midtown limits. In 2005, Barnett commissioned Pritzker Prize-winning architect to conceptualize a series of residential towers along 57th Street, with One57's initial design focusing on a slender, curved glass form to maximize views of and the skyline while minimizing the site's narrow footprint of approximately 23,000 square feet. The early concepts emphasized ultra-luxury condominiums atop a Park Hyatt hotel base, positioning the tower as the first in a wave of supertall residential structures—termed "super-slim" by industry observers—to leverage the area's premium pricing for and unobstructed vistas. De Portzamparc's vision incorporated cascading setbacks inspired by natural forms, such as waterfalls, to taper the structure from a broader base to a pinnacle height targeting over 1,000 feet, aligning with engineering feasibility studies for wind loads and foundation stability on . Formal building plans, refined through collaboration with executive architect SLCE Architects, were submitted to the Department of Buildings in 2009, outlining a 75-story mixed-use edifice with 93 units, space, and amenities tailored to high-net-worth international buyers amid a recovering post-2008 market. These proposals secured necessary approvals without major rezoning variances, relying instead on bonus ratios from assembled totaling over 200,000 square feet, which elevated the permissible envelope beyond adjacent developments.

Financing and Land Acquisition

Extell Development Company, led by CEO Gary Barnett, initiated the assembly of the One57 site in 1998 through the acquisition of multiple parcels on the north side of West 57th Street between Sixth and Seventh Avenues. This process exemplified Extell's expertise in land assembly, involving negotiations for irregular and holdout properties over more than a decade, with demolition commencing in 2007. Key transactions included a combined purchase of $67.5 million for the former Hard Rock Cafe site and an adjacent parcel fronting West 58th Street. Overall land costs surpassed $200 million, reflecting the premium value of Midtown Manhattan air rights and development potential. Financing for the One57 project, with a total estimated development cost of approximately $1.4 billion to $1.5 billion, relied on a mix of construction debt, developer equity, and presales of luxury condominium units. In October 2011, Extell secured a $700 million construction loan from a syndicate administered by , earmarked to fund a substantial portion of the mixed-use tower's erection, including the Park Hyatt hotel component. The developer also benefited from City's 421-a tax abatement program, receiving about $66 million in incentives tied to a $5.9 million commitment to elsewhere in the city. These elements enabled groundbreaking in 2010 despite economic headwinds post-2008 financial crisis.

Construction Phases and Challenges

Construction of One57 commenced in 2009, following site preparation that included the of seven existing buildings to clear the lot at 157 57th . The project advanced through foundation work and erection, achieving topping-out—marking the structural of the main tower—on June 20, , at a height of 1,004 feet. Subsequent phases involved installing the glass curtain wall facade, mechanical systems, and interior fit-outs for the 92 units and Park Hyatt hotel. The building reached substantial in 2014, with full operational readiness by early 2015. Significant challenges arose during the later stages of construction. On October 29, 2012, amid Hurricane Sandy's high winds exceeding 70 mph, a tower crane positioned near the 90th floor buckled and dangled precariously over West 57th Street, prompting evacuations of nearby buildings and street closures for public safety. Engineers secured the damaged crane using a system and completed its removal by November 1, 2012, minimizing delays to the overall schedule. Another incident occurred on March 15, 2014, when a fire erupted at the building's around 8:45 p.m., spreading to and requiring over 50 firefighters to extinguish it after more than an hour; no injuries were reported, but highlighted ongoing site safety concerns during the fit-out phase. These disruptions, including subsequent civil litigation related to construction activities, underscored the complexities of erecting a supertall structure in a dense urban environment, though the project proceeded without major long-term setbacks.

Completion and Inauguration

Construction of One57 concluded in 2014 after approximately four years of active building following groundwork initiated in 2010. The project achieved substantial completion that year, marking it as City's tallest residential tower at 1,004 feet upon finishing, surpassing prior structures like the Time Warner Center. The mixed-use development integrated 94 units above the base, with interiors finalized to support high-end occupancy. The Park Hyatt New York hotel, spanning the building's lower 25 stories, opened to guests on August 28, 2014, debuting with amenities including One57 restaurant, which commenced operations shortly after on August 25. This launch aligned with the overall tower's readiness, enabling seamless transition to operational use without reported formal events typical of public infrastructure projects. Residential move-ins followed in late 2014, with full availability extending into 2015 as final customizations and sales closed.

Post-Completion Operations

Residential Sales and Market Performance

Sales of One57's 92 units commenced in , prior to the building's completion, with three-quarters of the residences either or under contract by May 2014. The tower achieved rapid success in the luxury market, generating projected total value exceeding $2 billion at an average of approximately $6,300 per . Sponsor averaged $6,088 per as of 2017, reflecting strong initial demand from high-net-worth buyers seeking proximity to cultural landmarks like . The property set multiple records for residential transactions, including the city's most expensive apartment sale at $100.47 million for a duplex spanning the 89th and 90th floors, closed in January 2015. A second unit fetched $91.5 million, ranking among the top sales ever recorded in the city. Other high-profile closings included an 85th-floor residence at $55.6 million and full-floor units exceeding $40 million, underscoring One57's role in pioneering supertall luxury pricing during the mid-2010s boom. By 2019, over 85 percent of units were sold by count and more than 90 percent by value, positioning One57 ahead of contemporaries on Billionaires' Row in absorption rates despite its early market entry. However, the luxury segment faced headwinds post-2015, with sponsor pricing pressure and a broader inventory glut contributing to slower velocity; approximately 20 percent of units remained unsold as of that year. Resale activity highlighted market softening in the , exemplified by a 58th-floor unit traded in 2021 at a 51 percent discount from its original , the largest recorded at the tower amid reduced foreign investment and economic uncertainty. Recent transactions through mid-2025 show stabilized but lower per-square-foot values, ranging from $2,664 for a 2-bedroom to $6,222 for larger units, with closings such as a 4-bedroom at $38.8 million in July 2024 and a 3-bedroom at $24 million in July 2025. These figures indicate a correction from peak valuations, aligning with broader trends in Manhattan's ultraluxury sector where initial hype yielded to sustained but discounted secondary-market performance.

Hotel Functionality and Guest Services

The Park Hyatt New York, occupying floors 1 through 18 of One57, operates as a five-star luxury hotel with 210 guest rooms, including 92 suites, all featuring floor-to-ceiling windows and starting at 475 square feet. Room amenities include Italian linens, bath products, deep soaking tubs, machines, and twice-daily housekeeping. Guest services encompass 24-hour assistance for reservations, transportation, and bespoke experiences; in-room dining via the hotel's and ; and dry-cleaning; and facilities with digital check-in and free . The hotel provides multilingual support and across areas, including the registration and elevators. On-site amenities supporting guest functionality include Spa Nalai with treatments, an indoor saltwater pool, , steam room, and a fitness center equipped for comprehensive workouts. Meeting and event spaces accommodate small groups, with available. The debuted on August 19, 2014, integrating seamlessly with One57's residential upper floors while maintaining separate guest access via a private lobby and four dedicated elevators.

Ownership and Residents

Notable Purchases and Owners

In January 2015, the duplex penthouse spanning the 75th and 76th floors of One57 sold for a record-breaking $100.47 million to Michael Dell, founder and CEO of Dell Technologies, marking the most expensive residential transaction in New York City history at the time. This purchase, equivalent to approximately $3,078 per square foot for the 32,000-square-foot unit, underscored the building's status as a pinnacle of luxury real estate amid a surge in supertall condominium developments. Hedge fund manager acquired a full-floor at One57 for $91.5 million, one of the city's priciest single-unit sales, reflecting strong demand from finance sector buyers during the mid-2010s market peak. Musician , whose real name is Gordon Sumner, purchased a unit in the building, joining other high-profile figures drawn to its central Midtown location and Park Hyatt hotel amenities. In August 2025, investor and personality bought a full-floor residence for $32 million, highlighting ongoing appeal to entertainment and business elites despite market fluctuations. Other notable transactions include the 85th-floor unit's $55.6 million sale in the mid-2010s, contributing to One57 accounting for multiple entries among Manhattan's top 20 most expensive home sales. These purchases, often by anonymous entities or through LLCs, have fueled perceptions of One57 as a hub for global wealth concentration, though privacy measures limit public disclosure of all owners.

Reception and Influence

Architectural and Design Evaluations

One57's design by Pritzker Prize-winning architect emphasizes a slender, upward-soaring form with cascading setbacks and rippled canopies along its 1,005-foot height, creating a tiered massing that responds to its site adjacent to . The facade incorporates undulating bronze- and copper-toned glass panels on the north and south elevations, intended to produce shimmering effects through light refraction, while the east and west sides feature floor-to-ceiling windows in varied blue-gray tints for panoramic views. This composition aims to evoke fluidity and movement, with the building's narrow 57-foot width yielding a of approximately 1:18, marking it as an early example of New York's super-slim luxury residential towers. Architectural evaluations of One57 have been predominantly mixed to negative, often highlighting its prioritization of opulent residential appeal over innovative form or urban integration. Critic Justin Davidson characterized the tower as "tall and clunky, preening yet graceless," arguing it serves as a luxury bauble tailored to clients favoring glitz, with its design recapitulating developer-driven extravagance rather than advancing architectural discourse. Similarly, Rafael Viñoly, architect of the nearby 432 Park Avenue, dismissed One57's appearance, questioning "What is that?" in reference to its aesthetic during a 2016 public discussion, underscoring perceived deficiencies in proportional elegance compared to stricter grid-based contemporaries. Some assessments acknowledge graceful elements amid the critiques, such as the "soft, ethereal surfaces and discreet curves" that lend a unique fluidity, evoking influences while adapting to supertall constraints. However, broader commentary on 57th Street's "Billionaire's Row" developments, including One57, questions the substantive value of such "designer architecture," viewing the towers as conspicuous symbols of wealth concentration rather than meaningful contributions to the skyline's civic fabric. The building received no major architectural awards, reflecting its lukewarm reception among peers, though its completion in 2014 helped pioneer the ultra-luxury supertall typology that proliferated thereafter.

Economic and Urban Impact

The development and of One57, with an estimated total cost of $1.5 billion, contributed to economic activity through of materials, labor, and services during its build phase from to 2014. As the first ultra-luxury supertall on 57th , it exemplified how high-end projects inject capital into City's construction sector, though specific job creation figures for the site remain undocumented in . Supertall like One57 generally stimulate ancillary economic effects, including increased foot traffic and local business patronage in due to their prestige and visibility. Sales of residential units generated over $2 billion in aggregate value by completion, with record-setting transactions such as the $100.5 million penthouse in 2014, drawing substantial foreign investment—particularly from Chinese buyers seeking to park capital amid global uncertainties. This influx supported transfer taxes and fees for the city, estimated in the tens of millions from high-volume deals, while positioning One57 as a catalyst for the Billionaires' Row phenomenon, where subsequent towers attracted similar overseas funds as a form of capital flight. However, the project's reliance on 421-a tax abatements resulted in $65.6 million in forgone city revenue over its initial years, exchanged for developer contributions yielding only 66 affordable housing units elsewhere, raising questions about net fiscal benefits. Urbanistically, One57 accelerated vertical density along West 57th Street, elevating the Midtown skyline and spurring a cluster of supertall developments that redefined the area's silhouette and property values, with neighborhood prices rising post-completion. The integrated Park Hyatt hotel, operational since 2014, bolsters by catering to affluent visitors, contributing to sector revenues in a corridor proximate to cultural hubs like . Yet, the model's emphasis on units for non-resident investors has led to underutilization, with some floors remaining vacant, potentially limiting broader neighborhood activation compared to mixed-use precedents.

Controversies and Criticisms

Financing Irregularities

The construction of One57 received significant equity financing from Aabar 57 Funding LLC, a of Aabar Holdings, which provided an initial $140.675 million to developer in September 2010, according to New York City property records. Aabar and its affiliate Tasameem later increased their combined investment to $650 million, with Extell contributing $50 million, enabling the project to proceed amid the . These funds came under scrutiny following revelations in the 1MDB scandal, a Malaysian state embezzlement case involving billions in diverted assets and international allegations. Aabar's former chairman, , was charged in connection with the scheme, which implicated transfers between 1MDB and entities linked to Aabar's parent, the Abu Dhabi-based International Petroleum Investment Company (IPIC). Although no direct evidence tied laundered 1MDB funds to the One57 loan, al-Qubaisi's role prompted U.S. and international investigators to examine Aabar's investments, including the Extell financing, as part of broader probes into potential misuse of sovereign wealth. IPIC maintained that it received no improper payments from 1MDB and that its investments were legitimate. No formal charges or findings of irregularity specific to the One57 financing have been publicly confirmed, though highlighted risks in opaque foreign investment flows into U.S. luxury during the early . Extell has not been accused of wrongdoing in relation to the Aabar funds.

Construction Incidents and Safety Issues

On October 29, 2012, high winds from caused a construction crane atop One57 to partially collapse, with its boom dangling precariously over West 57th Street at approximately 75 stories high. The incident occurred around 2:30 p.m., prompting the evacuation of nearby buildings including and the closure of several blocks for public safety. Securing the crane took several days, involving specialized rigging teams working under challenging conditions. Subsequent investigations attributed the failure to : a worker had improperly secured the crane to prevent it from "weather-vaning freely" during the storm, leading to structural overload. The (OSHA) issued 10 serious violations to the site following the event, citing deficiencies in crane safety protocols. On October 7, 2013, another crane malfunction at the site halted operations and closed 57th Street when the boom snagged, requiring emergency repairs; this followed the Sandy incident and highlighted ongoing equipment reliability concerns. A fire erupted at One57's loading dock on March 15, 2014, spreading to and an adjacent courtyard, necessitating over 50 firefighters and more than an hour to contain. The blaze damaged construction materials but caused no injuries, occurring late in the project amid prior safety scrutiny.

Social and Environmental Critiques

One57 has drawn social criticism for embodying and intensifying wealth inequality in New York City, where its condominiums—priced from $10 million to over $100 million—primarily serve international billionaires and high-net-worth individuals, while the city grapples with a severe affordable housing shortage. A 2014 penthouse sale for $100.5 million, the highest residential price in the U.S. at the time, exemplified how such supertall luxury towers on "Billionaires' Row" concentrate extreme wealth in a city where median household income lags far behind escalating rents and home prices. Critics, including urban analysts, contend that these developments fuel speculative investment by foreign capital, leaving units often vacant as "pied-à-terres" and exacerbating the displacement pressures on lower-income residents through inflated local real estate markets, even if direct gentrification in the Midtown area is limited by its commercial zoning. The building's emergence post-2008 financial crisis amplified perceptions of it as a symbol of unchecked elite excess, with commentators decrying how resources poured into such projects—amid stagnant wages and rising —represent a "tale of two cities" where luxury overshadows public needs. Organizations focused on economic disparity have highlighted how One57 and similar towers distort housing policy priorities, lobbying for measures like a "" tax on high-end purchases to fund affordable units, though implementation has stalled. These views, often from progressive outlets, underscore a broader debate on whether such private developments provide economic trickle-down benefits or merely entrench . Environmental critiques of One57 center on the inherent impacts of supertall and , including substantial embodied carbon from materials like and used in its 1,005-foot , as well as ongoing high energy demands for climate control in its glass-clad facade and amenities. While the building incorporates some efficiency features, such as advanced HVAC systems, it lacks prominent green certifications like Gold, drawing implicit fault from analyses of similar high-rises that prioritize luxury over reduced ecological footprints. The tower's slender profile also contributes to urban shadowing effects, with models indicating prolonged shade on nearby streets and parks during winter months, potentially altering local and comfort in a densely already strained by heat islands. General studies on supertall buildings note their disproportionate resource intensity per resident, given low occupancy rates in luxury units, though One57-specific data on emissions remains sparse.

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