Central Park Tower becomes world's tallest residential building

Central Park Tower near Columbus Circle is now the tallest residential building in the world.

A 'topping out' ceremony was held Tuesday celebrating the architectural achievement.

The building now stands 1,550 feet tall with 131 stories.

Residential units feature breathtaking views and can reach a price of up to $63 million.

A two-bedrom unit on the 33rd floor sells for $6.9 million.

"Structural elements are discreetly located between the residential units, resulting in widescreen, floor-to-ceiling glass, unencumbered views and generous floor plates," according to the building's website. "These fine homes have been meticulously designed to maximize views and light with expansive dimensions and soaring ceiling heights."

Central Park Tower also features a 60 ft. outdoor pool, sundecks and cabanas.

Extell Development reportedly secured the right to build the tower by buying 6,000 square feet of 'air rights' from surrounding buildings.

The residential portion of the building is slated to open in 2020.

Nordstrom's new flagship store which will be housed at the building is expected to open in October.