Chinese Culture Center pays $11.2M to Extell Development for resi condo in Central Park Tower

Theresa Wang Chinese Culture Center Inc. paid $11.2 million to Extell Development through the entity Smitell LLC for the residential unit 33C at Central Park Tower at 217 West 57th Street in Midtown West, Manhattan.
The deal closed on February 10, 2022 and was recorded on February 18, 2022.

The signatory for Extell Development was Ahuva Genack. The signatory for Theresa Wang Chinese Culture Center Inc. was David Wang.
Prior to this transaction, the buyer Theresa Wang Chinese Culture Center Inc. had not purchased any other properties and had not sold any properties over the past 24 months.

This is for unit 33C.
On the tax block, the majority, or 78 percent of the 2 million square feet of built space are residential elevator buildings, with office buildings next occupying 16 percent of the space.
Within a 400-foot radius of 217 West 57th Street, PincusCo identified 48 commercial real estate items of interests occurred over the past 24 months.
Of those 48 items, 47 were sales above $5 million totaling $2.2 billion. The most recent of the 47 was 220 Central Park South Real Estate Holding, LLC which bought one condo unit in the 117-unit condo building (R4) on 220 Central Park South for $14.8 million from Vornado Realty Trust on January 19, 2022.
One of those 48 items was a loan which Rockpoint Group borrowed $115 million from Morgan Stanley secured by the 124,782-square-foot, 95-unit office building (O6) on 894 7th Avenue on January 10, 2020.

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