NEW YORK CITY-After years of developments–and a few minor setbacks–the Time Warner Center at 10 Columbus Circle previewed its retail portion in a coming-out party Wednesday night. The Shops at Columbus Circle and the Restaurant Collection opened to the public this morning.

Hosted by the Related Cos., Time Warner and Apollo Real Estate, the event showcased the multi-level retail and restaurant portion of the 2.8-million-sf development, which carried a total price tag of approximately $1.7 billion. Taking space at the 55-story skyscraper are major retailers such as Coach, Williams Sonoma, Hugo Boss, Sephora and Tourneau. The restaurants include Thomas Keller’s Per Se, Gray Kunz’s Café Gray and Rande Gerber’s Stone Lounge. The project was developed by Columbus Circle Centre LLC, a partnership consisting of the Related Cos. LP and Apollo Real Estate Advisors LP.

“We are thrilled to open the doors to the Time Warner Center and to celebrate its emergence as New York City’s new landmark for the 21st Century,” says Stephen M. Ross, chairman and CEO of Related. “Located in one of Manhattan’s most prominent locations, Columbus Circle, this development offers unparalleled Central Park views combined with a dynamic mix of commercial, residential, retail and entertainment components.”

In addition to retail and restaurants, the Time Warner Center is also home to the Time Warner World Headquarters, which includes 865,000 sf of office and studio space with digital production and broadcast facilities for live transmission of CNN and CNNfn; One Central Park condominiums and the Residences at the Mandarin Oriental, New York, which include 201 luxury condominiums; the Mandarin Oriental Five-Star Luxury Hotel, which includes 251 guestrooms; Jazz at Lincoln Center, which includes three main performance venues totaling 1,970 seats, recording studios and classroom space; 211,000 sf of class A office space, which will include the corporate offices of Related and Apollo Real Estate; and a 504-car parking facility with 24-hour valet service.

“The successful completion of this project is testament to the continued vitality of New York and to the future of the city’s newest cultural and lifestyle destination,” says William L. Mack, development partner and a co-founder and managing partner of Apollo Real Estate. “We are confident that the success of this project will continue to draw the attention and support of the world’s business, retail and residential communities for years to come.”

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