- RECORD-BREAKING SALE AT PENTHOUSE 

    Extell Development Company 
(http://www.extelldev.com/extell_development.html) announced today that ONE57 
(http://one57.com/), slated to be the tallest residential building in New York 
City, has reached a record milestone of $1 billion in sales and is 50% sold 
since launching just six months ago. The 90-story glass tower, which is 
expected to top off this July, also announced a record-breaking penthouse sale. 

    (Photo:  http://photos.prnewswire.com/prnh/20120518/NY10152)

    "Our buyers are visionaries who recognize the building's value, and are 
confident enough to buy off of floor plans at premium prices," said Gary 
Barnett, President of Extell Development Company (http://www.extelldev.com/). 
"We're seeing buyers from as far as Hong Kong to as near as Fifth Avenue." 

    Rising over 1,000 feet on West 57th Street, the Christian de Portzamparc 
(http://www.chdeportzamparc.com/ )-designed building will feature 92 
ultra-luxury condominium residences above a five-star Park Hyatt 
(http://www.park.hyatt.com/ )hotel. Envisioned by a team of world-class talent, 
this architectural masterpiece will provide residents with breathtaking, 
unobstructed views of Central Park to the North, the famed Manhattan skyline to 
the South, and both Hudson and East Rivers. Interiors have been meticulously 
designed by New York-based Danish designer Thomas Juul-Hansen 
(http://www.thomasjuulhansen.com/ ).  

    "This is an iconic building that has set the bar for luxury living in New 
York City," added Barnett. 

    The ONE57 Sales Gallery located at the historic Fuller Building at 41 East 
57th Street and Madison Avenue has been designed to represent the exquisite 
space and quality materials available within the 90-story mixed-use hotel and 
condominium tower. Homes start at $16.75 million. Occupancy is slated for 2013. 
For more information, visit http://www.one57.com or contact sales@one57.com.

    About Extell:
    Founded and headed by Gary Barnett, Extell Development Company is a 
nationally acclaimed real estate developer of residential, commercial, retail, 
hospitality and mixed-use properties, operating primarily in Manhattan and 
other premier cities across the nation. For more information, visit 
http://www.extelldev.com.

    About ONE57:
    ONE57 is located at 157 W 57th Street in the heart of New York's famed 
Plaza District across from Carnegie Hall. Homes at ONE57 will feature gracious 
dimensions and soaring ceiling heights, along with numerous custom details and 
materials of the highest quality. ONE57 will offer the "Extell Choice," a 
unique value proposition allowing buyers to choose from a fine selection of 
finishes, design and layout packages to tailor homes to individual tastes. 

    Poised above a five-star Park Hyatt hotel, ONE57 residents will have full 
access to Park Hyatt's exclusive amenities and hotel services. Additional 
residential amenities will include a 24-hour doorman and concierge, screening 
and performance space, on-site parking, triple-height indoor swimming pool and 
custom Jacuzzi, library, catering kitchen, and private fitness center.

    SOURCE:   Extell Development Company

    CONTACT:  Anna Crowley, +1-212-843-8268, acrowley@rubenstein.com, or Anna 
LaPorte, +1-212-843-8048, alaporte@rubenstein.com, both of Rubenstein 
Associates, Inc.


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