Extell takes 46th St. site for $18M

Extell Development recently closed on the purchase of 55 West 46th Street in the Diamond District for $18 million, according to public records. The developer is planning to build a 30-story Class A office tower on 47th Street between Fifth and Sixth avenues, and it has been assembling buildings and air rights on both sides of the block. Extell already owns 44-52 West 47th Street, and the purchase of No. 55 gives it control of the development rights for every site between 33 and 59 West 46th Street. The price works out to approximately $679 per buildable square foot. TRD