A condominium tower near Central Park in New York City will be the world's tallest predominantly residential building when it opens next year but will be competing with other ultra-luxury buildings for billionaire buyers.
Extell Development Co. President Gary Barnett said Tuesday that the $3 billion, 1,550-foot (472-meter) Central Park Tower is entering an "oversupplied" market. He said Extell and its partners will have to be "flexible" in selling the building's multimillion-dollar apartments.
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The view from an upper floor of the Central Park Tower shows Times Square, lower center, the Empire State Building, left, and One World Trade Center, center background, Tuesday, Sept. 17, 2019 in New York. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
A condominium tower near Central Park in New York City will be the world's tallest predominantly residential building when it opens next year but will be competing with other ultra-luxury buildings for billionaire buyers.
Apartments now listed on Central Park Tower's website range from $6.9 million for a 33rd floor two-bedroom to $63 million for a 112th-floor five-bedroom.
New York's Central Park is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
The view from an upper floor of the Central Park Tower shows Times Square, lower center, the Empire State Building, left, and One World Trade Center, center background, Tuesday, Sept. 17, 2019 in New York. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
New York's Central Park is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co.(AP PhotoMark Lennihan)
People hike through New York's Central Park with the Central Park Tower, center, behind them, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
The Steinway Tower is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the Central Park Tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. The Steinway Tower will be approximately 100 feet shorter. (AP PhotoMark Lennihan)
Barnett spoke at a "topping out" ceremony Tuesday to celebrate the fact that the tower has reached its full height.
In this July 31, 2019 photo, the Central Park Tower is under construction in New York. (AP PhotoMark Lennihan)
Apartments now listed on Central Park Tower's website range from $6.9 million for a 33rd floor two-bedroom to $63 million for a 112th-floor five-bedroom.
Nordstrom department store will occupy the first seven floors of the West 57th Street building.
New York's Central Park is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co.(AP PhotoMark Lennihan)
New York's Central Park is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
The view from an upper floor of the Central Park Tower shows Times Square, lower center, the Empire State Building, left, and One World Trade Center, center background, Tuesday, Sept. 17, 2019 in New York. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
New York's Central Park is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co.(AP PhotoMark Lennihan)
People hike through New York's Central Park with the Central Park Tower, center, behind them, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. (AP PhotoMark Lennihan)
The Steinway Tower is seen from an upper floor of the Central Park Tower, Tuesday, Sept. 17, 2019. At 1550 feet (472 meters) the Central Park Tower is the world's tallest residential apartment building, according to the developer, Extell Development Co. The Steinway Tower will be approximately 100 feet shorter. (AP PhotoMark Lennihan)
SHANGHAI (AP) — U.S. Secretary of State Antony Blinken raised what the U.S. describes as unfair Chinese trade practices during his first full day of meetings in China on Thursday with local government officials in the financial hub of Shanghai.
Blinken met with the city's top official, Communist Party Secretary Chen Jining, and “raised concerns about (Chinese) trade policies and non-market economic practices," the State Department said in a statement.
It said he stressed that the United States seeks healthy economic competition with China and "a level playing field for U.S. workers and firms operating in China.”
“The two sides reaffirmed the importance of ties between the people of the United States and (China), including the expansion of exchanges between students, scholars, and business,” it said.
China's multibillion-dollar trade surplus with the U.S. along with accusations of intellectual property theft and other practices seen as discriminating against U.S. businesses in China have long been a source of friction in relations.
China, for its part, has objected strongly to U.S. accusations of human rights abuses and Washington's support for Taiwan, the self-governing island that Beijing considers its own territory and warns could be annexed by force.
Blinken also spoke with students and business leaders before flying to Beijing for what are expected to be contentious talks with national officials, including Foreign Minister Wang Yi and possibly President Xi Jinping.
Blinken arrived in Shanghai on Wednesday shortly before U.S. President Joe Biden signed a $95 billion foreign aid package that has several elements likely to anger Beijing, including $8 billion to counter China’s growing aggressiveness toward Taiwan and in the South China Sea. It also seeks to force TikTok’s China-based parent company to sell the social media platform.
China has railed against U.S. assistance to Taiwan and immediately condemned the aid as a dangerous provocation. It also strongly opposes efforts to force TikTok’s sale.
Still, the fact that Blinken made the trip — shortly after a conversation between Biden and Xi, a visit to China by Treasury Secretary Janet Yellen and a call between the U.S. and Chinese defense chiefs — is a sign the two sides are at least willing to discuss their differences.
“I think it’s important to underscore the value — in fact, the necessity — of direct engagement, of speaking to each other, laying out our differences, which are real, seeking to work through them,” Blinken told Chen.
“We have an obligation for our people, indeed an obligation to the world, to manage the relationship between our two countries responsibly,” he said. “That is the obligation we have, and one that we take very seriously.”
Chen agreed with that sentiment and said the recent Biden-Xi call had helped the “stable and healthy development of our two countries’ relationship.”
“Whether we choose cooperation or confrontation affects the well-being of both peoples, both countries, and the future of humanity,” he said.
Chen added that he hoped Blinken was able to get a “deep impression and understanding” of Shanghai, a city of skyscrapers, ports and more than 25 million people that is a magnet for commercially ambitious young people from China and abroad.
Most recently, the U.S. has raised concerns that potential overcapacity in Chinese industries — such as electric vehicles, steel and solar panels — might crowd out U.S. and other foreign manufacturers.
Shortly after arriving, Blinken attended a Chinese basketball playoff game between the local Shanghai Sharks and the Zhejiang Golden Bulls, with the home team losing in the last seconds in a 121-120 nailbiter.
With the U.S. presidential race heating up, it’s unclear what ramifications a victory for either Biden or former President Donald Trump might have for relations. But Trump could deepen a trade war he started during his first term. His tough rhetoric on China and isolationist approach to foreign policy could ramp up uncertainties.
U.S. Secretary of State Antony Blinken, center, with NYU Shanghai Vice Chancellor Jeffrey Lehman, back right, talks to students at NYU Shanghai, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken talks to students at NYU Shanghai, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, second left, U.S. Ambassador to China Nicholas Burns, third left, and Scott Walker, left, Consul General at the U.S Consulate General in Shanghai, visit a waterfront area called The Bund, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, right, talks with U.S. tourists as he walks in a waterfront area called The Bund, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken talks with U.S. Ambassador to China Nicholas Burns, center, with U.S. Consulate General in Shanghai Scott Walker, left, while attending a basketball game between the Shanghai Sharks and the Zhejiang Golden Bulls at the Shanghai Indoor Stadium, Wednesday, April 24, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken talks with U.S. Ambassador to China Nicholas Burns, center, with U.S. Consulate General in Shanghai Scott Walker, right, while attending a basketball game between the Shanghai Sharks and the Zhejiang Golden Bulls at the Shanghai Indoor Stadium, Wednesday, April 24, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, second left, and U.S. Ambassador to China Nicholas Burns, far right, arrive at the Grand Halls to meet with Shanghai Party Secretary Chen Jining on Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, left, shakes hans with Shanghai Party Secretary Chen Jining as they meet at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, left, meets with Shanghai Party Secretary Chen Jining at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
Shanghai Party Secretary Chen Jining talks with U.S. Secretary of State Antony Blinken at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken talks with Shanghai Party Secretary Chen Jining at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, left, talks with Shanghai Party Secretary Chen Jining at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
U.S. Secretary of State Antony Blinken, center, watches U.S. Ambassador to China Nicholas Burns, left, shake hands with Shanghai Party Secretary Chen Jining at the Grand Halls, Thursday, April 25, 2024, in Shanghai, China. (AP Photo/Mark Schiefelbein, Pool)
