The Real Deal New York

Sale of East 125th Street to Extell nixed

April 12, 2014 01:00PM

From left, 160 E. 125th St., Gary Barnett

From left, 160 E. 125th St., Gary Barnett

The head of an East Harlem board that controls a property occupied by a Pathmark grocery store has ended negotiations with luxury condominium developer Extell Development.

East Harlem Abyssinian Triangle Corp. president Hannah Brockington wrote a letter to board members stating that a deal to sell 160 E. 125th St. to Extell’s Gary Barnett is no longer up for consideration.

Extell bid $39 million on the property.

“I have no plans to call another meeting of the board of directors to discuss or vote on this sale to the proposed buyer,” wrote Brockington in the April 10 letter. He added: “The planned sale of this property would be detrimental to our community.”

Members of the eight-member board have not made a decision on how to proceed. [NYDN] —TRD

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