From left: Stuart Romanoff, executive vice president at Cushman & Wakefield, and a rendering of the International Gem TowerExtell Development President Gary Barnett has returned to his original plan for the $750 million International Gem Tower in Midtown, the New York Post reported, as he has decided to lease the top floors to traditional office tenants.
The 34-story, 745,000-square-foot tower planned for completion late next year at, 50 West 47th Street, will get a separate entrance at 55 West 46th Street for tenants of the top 14 floors to use as traditional office space. The first 20 floors are comprised of 400,000 square feet of condominiums dedicated for jewelry industry use. They are about 65 percent sold with an asking price of about $1,000 per square foot, the Post said. … [more]