Extell Development Company and SMI USA - the US subsidiary of Shanghai Municipal Investment - will co-develop Central Park Tower.
The 472m-high building will be the tallest in New York City. By way of comparison, One World Trade Center has a roof height of 417m, though an overall height of 541m including a tall spire.
"This strategic alliance with SMI brings together two international industry leaders with a track record of creating iconic global skyscrapers,” said Gary Barnett, founder and CEO of Extell Development Company. “SMI has developed the tallest building in Shanghai and we look forward to our partnership as we jointly develop the tallest building in New York City.”
The developers say that Central Park Tower will be the tallest residential building in the Western Hemisphere. Architect for the scheme is Adrian Smith + Gordon Gill Architecture, whose credits include the Burj Khalifa in Dubai and Kingdom Tower in Saudi Arabia – which will be the world's tallest building.