The Real Deal New York

Rumors surround possible Extell hotel on 47th Street

August 22, 2014 05:20PM

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2 West 47th Street and Extell's Gary Barnett

2 West 47th Street and Extell’s Gary Barnett

A published report claims that Extell Development Company plans to open a hotel on West 47th Street.

The supposed plan for the Extell-owned lot assemblage is uncertain, however. A total of 100 tenants have moved out of — or are in the process of departing — 2 West 47th Street, which once housed ABS Partners Real Estate’s jewelry exchange on the ground floor and designers in the floors above. Extell, SL Green Realty Trust and Thor Equities are reportedly in talks over commercial development sites on West 46th Street and Fifth Avenue. SL Green and Extell, run by Gary Barnett, are also said to be looking elsewhere on 47th Street.

ABS sold the building in January for $56.4 million to Fifth 47 Owner LLC.

The New York Observer, however, is reporting that the hotel rumor is “legit,” after speaking to several brokers. [NYO] – Claire Moses 

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