| The Centrale | |
|---|---|
 Seen on May 24, 2019 | |
 Interactive map of The Centrale | |
| General information | |
| Status | Completed |
| Type | Residential |
| Location | 138 East50th Street Manhattan, New York |
| Coordinates | 40°45′21″N73°58′19″W / 40.75590°N 73.97190°W /40.75590; -73.97190 |
| 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 |
138 East 50th Street, officially namedThe Centrale, is a residential building inMidtown Manhattan, New York City.[1] The building consists of 124condominium residences and 7,500 square feet (700 m2) of ground-floor retail betweenThird Avenue andLexington 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]
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 bySLCE 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 fromIndustrial and Commercial Bank of China.[5]
Construction began in mid-2016 andtopped 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]