The Real Deal New York

Posts Tagged ‘extell development’

  • Pathmark-Extell

    142-96 East 125th Street and Gary Barnett

    Extell Development has officially purchased a 68,676-square-foot East Harlem retail property home to a Pathmark supermarket, The Real Deal has learned. [more]

  • 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. [more]

  • extell-ring

    19 West 24th Street and Gary Barnett

    Extell boss Gary Barnett has closed on the net lease on four of the 13 buildings in Manhattan South real estate portfolio the firm acquired from Frank Ring earlier this year.

    The Kaufman Organization teamed with Iowa-based Principal Real Estate Investors to acquire the 99-year ground lease on properties totaling 341,000 square feet. The duo was in advanced talks for the lease last month, in a deal worth about $150 million, as The Real Deal reported. The lessees intend to pay $34 million for a renovation on the buildings, including 19 West 24th Street, 119-125 West 24th Street, 13-15 West 27th Street and 45 West 27th Street. [more]

  • Extell’s One57 facing 19 lawsuits

    April 08, 2014 02:50PM
    Extell's Gary Barnett and One57

    Extell’s Gary Barnett and One57

    Extell’s One57, the condominium tower that shattered sales records with a $90 million penthouse sale, has also become the target of a whopping 19 civil lawsuits.

    Job-site injury claims are cited in 10 of them, while a wrongful-death case and alleged $27 million debt to a contractor are also in the mix. [more]

  • One57 sponsor unit sells for $30M

    April 04, 2014 02:10PM

    George Constantin and One57

    A 59th-floor condominium unit at Extell Development’s trophy residential tower One57 has sold for $30 million.

    The buyer, Efstalamar LLC, shares an address with the George Constantin-led Heritage Realty Services. The three-bedroom apartment — a sponsor unit — spans 4,200 square feet. Four sponsor units were listed for sale by Extell in February, asking between $18.85 million and $32.75 million. [more]

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  • From left: 767 Fifth Avenue and Cartier 's former location

    From left: 767 Fifth Avenue and  Saks Fifth Avenue Cartier store

    French jeweler Cartier is taking 8,000 square feet at the GM Building for operations while its Fifth Avenue flagship gets a makeover.

    Cartier’s luxury collections will temporarily head to a 50-story, 1.82 million-square-foot tower at 767 Fifth Avenue starting Friday. [more]

  • Construction at One57

    Construction at One57

    From Luxury Listings NYC: A fire on Saturday at the mega-luxe One57 development in Midtown — where an investor famously purchased the building’s penthouse for a whopping $90 million — became the target of a complaint filed with the state Supreme Court on Sunday. Michael Hurwitz, a lawyer who lives just behind the super-tall building, filed court documents as the sole plaintiff seeking a temporary restraining order barring Extell Development, the construction company Lend Lease and a collection of yet-to-be-identified firms also working on the project from access and further construction. [more]

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  • From left: George Kaufman, 119 West 24th Street and Gary Barnett

    From left: George Kaufman, 119 West 24th Street and Gary Barnett

    In the latest in the Ring portfolio saga, Gary Barnett’s Extell Development is in advanced discussions to sell the long-term ground leases on four of the portfolio’s office buildings, The Real Deal has learned. The Kaufman Organization is the buyer, and the deal is valued at north of $150 million, according to a source familiar with the talks. [more]

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  • Extell hit with $27M suit over One57

    March 14, 2014 11:00AM
    Extell's Gary Barnett and One57

    Extell’s Gary Barnett and One57

    Extell Development is facing a $27 million lawsuit from contractor Five Star Electric Corp., which claims non-payment for work done at the One57 hotel condo site — the location where a tower crane collapsed following Hurricane Sandy.

    In the suit filed March 7 in Manhattan Supreme Court, Five Star claims it signed a contract for the project with Extell in 2010, through its construction manager Bovis Lend Lease LMB Inc. (now known as Lend Lease). The development was then known as Carnegie Tower, a 76-story hotel and luxury residential building, at 157 West 57th Street, in Manhattan. [more]

  • Stephen Ross and 550 West 34th Street (Credit: PropertyShark)

    Stephen Ross and 550 West 34th Street (Credit: PropertyShark)

    UPDATED, 4:55 p.m., March 7: Stephen Ross’ the Related Companies has applied for permits for 550 West 34th Street, a planned commercial tower in the Hudson Yards district, according to property records filed with the city late last month. [more]

  • Renderings of 220 Central Park South

    Renderings of 220 Central Park South

    In what will likely be one of the largest loans issued in Manhattan this year, The Bank of China was identified in city records as the company financing Vornado Realty Trust’s long-delayed luxury condominium at 220 Central Park South.  [more]

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  • 68 Charlton Street in its current state

    68 Charlton Street in its current state

    Extell Development has submitted plans for a 22-story residential building at 68 Charlton Street in Hudson Square that would reportedly bring the neighborhood its first affordable housing.

    The proposal includes 116 total units, 91 of which would be market-rate co-ops and 25 of which will be affordable rentals. Among the reduced-rate units, the breakdown would be 22 two-bedroom apartments and three studios, ranging from a rental rate of $830 per month to $1,080 per month.  [more]

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  • Park Hyatt at One57 set to open in August

    February 25, 2014 08:34AM

    Renderings of Park Hyatt at 153 West 57th Street

    The Park Hyatt Hotel at One57 is scheduled to open for business on Aug. 28, when the five-star hotel will occupy the first 30 floors of the Extell Development condominium tower. [more]

  • Cantilever-Barnett

    225 West 57th Street with and without cantilever and Gary Barnett

    More than 100 members of the Art Students League of New York opposed to the League’s deal to sell air and cantilever rights to Gary Barnett’s Extell Development for his mixed-use tower at 225 West 57th Street, filed suit this week to block the transfer. [more]

  • 227 Cherry Street

    227 Cherry Street

    The long-shuttered Pathmark grocery store on the Lower East Side will soon be torn down, now that demolition permits have been approved by the city. [more]

  • From left:

    From left: Renderings of One57 tower, 432 Park Avenue, 107 West 57th Street and Gary Barnett

    Gary Barnett of Extell Development took something of a pummeling at yesterday’s panel of New Yorkers concerned about the shadows that rising skyscrapers will cast over Central Park. The verbal attacks were not overly surprising, considering Barnett was the sole defender of the construction of the towers. [more]

  • Gary Barnett's One57

    Gary Barnett’s One57

    Sponsor units at Extell Development’s trophy residential tower One57 have finally been listed on StreetEasy. Four units were listed for sale by the developer on Tuesday, asking between $18.85 million and $32.75 million, the listings website shows.

    The move by Extell to list the units publicly represents a turnaround in the marketing of the building. Since One57 launched sales in 2011, the developer has famously eschewed listing units on broker databases, such as the Real Estate Board of New York’s Residential Listing Service (RLS), On-Line Residential or sites like StreetEasy. [more]

  • From left: Marc Holliday, 560 Fifth Avenue and Gary Barnett

    From left: Marc Holliday, 560 Fifth Avenue and Gary Barnett

    SL Green Realty has paid $146.2 million to develop 45,000 square feet of retail space along Fifth Avenue, in a series of deals with Gary Barnett’s Extell Development. [more]

  • Clockwise from left: interior of 535 West End Avenue, John Gomes, exterior, Frederik Eklund

    Clockwise from left: interior of 535 West End Avenue, John Gomes, exterior, Fredrik Eklund

    An undisclosed owner of a “high-floor unit” in an Extell tower on the Upper West Side is asking $27.5 million, or $3,254 per square foot, according to StreetEasy. [more]

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  • Ring-212-Barnett

    From left: Frank Ring, 251 Park Avenue South, 212 Fifth Avenue and Gary Barnett

    Gary Barnett’s Extell Development paid $308.2 million for Frank Ring’s 50 percent stake in 13 buildings, mostly located in Midtown South, city records show. The acquisition was announced in October when the contract was signed but the price had not been revealed. [more]