The Real Deal New York

Posts Tagged ‘extell development’

  • 50 Riverside Boulevard

    50 Riverside Boulevard

    After months of confusing back-and-forth as to the fate of the remaining units at Extell Development’s One Riverside Park, which were pulled from the market in November, 27 unsold units are back on sale. [more]

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  • From left: 500 East 14th Street, RKF rendering

    From left: 500 East 14th Street and RKF rendering

    Extell Development is tearing down a sizable chunk of an East Village block to make way for a new retail and residential development. [more]

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  • From left: 995 Fifth Avenue, Joseph Plumeri

    From left: 995 Fifth Avenue and Joseph Plumeri, former CEO of Willis Holdings

    The board at 995 Fifth Avenue filed a $5 million suit against Extell Development and Westbrook Partners, alleging breach of contract and fraud in the construction, marketing and sale of apartments at the luxury co-op building.

    The building, the former Stanhope Hotel across from the Metropolitan Museum of Art, is widely considered one of the top co-op buildings in New York. The suit, filed in Manhattan Supreme Court by 995 Fifth Avenue Owners Corp. on Jan. 9, also alleges fraud and misrepresentation on the part of architect Centra/Ruddy in the design of the property and Corcoran Group in the sale of units at the building. [more]

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  • 220-cps

    Renderings for 220 Central Park South

    Vornado Realty Trust unveiled renderings for the Robert A.M. Stern-designed condominium tower at 220 Central Park South that reveal a second, smaller 14-story structure on the site. [more]

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  • 995 Fifth Avenue

    995 Fifth Avenue

    The head of a private equity firm has put his cond-op at Extell Development’s 995 Fifth Avenue, formerly the Stanhope Hotel, on the market for $13.5 million.

    Sharon Baum of the Corcoran Group has the listing. The three-bedroom, three-and-a-half bath home is one of 26 units in the building opposite the Metropolitan Museum of Art. The sellers are Robert Rosner, president of Vestar Capital Partners, and his wife Cecile, who bought the 4,357-square-foot residence for $12.5 million in 2009, according to StreetEasy. [more]

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  • From left: rendering of 12 East 13th Street,  rendering of 17 East 12th Street

    From left: rendering of 12 East 13th Street, rendering of 17 East 12th Street

    Instead of tearing down old parking garages for new developments, a handful of firms are taking advantage of their industrial architecture and transforming them into luxury condominiums. [more]

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  • From left: 35 West 15th Street, 303 East 77th Street and 225 West 57th Street

    35 West 15th Street, 303 East 77th Street and 225 West 57th Street

    As luxury residential properties in New York City grow ever bigger and flashier, cantilevers are boldly following suit.

    Driven by a demand for developments that are ever “bigger and better,” as the mantra goes, increasingly audacious cantilevers are possible thanks to changes in technology such as structural steel and reinforced concrete that render a load-bearing wall, once an architectural necessity, nearly obsolete. Air rights transfers have also served them well, enabling cantilevers to stretch higher and farther as long as they adhere to density quotas and stay far enough away from neighboring roofs. [more]

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  • one57-view-fbox

    The view from One57

    Extell Development reportedly typically forbids buyers from flipping contracts before closing and from trying to sell units until a year after purchase. But it seems that the developer has loosened the restrictions at One57.

    Last week, Tao Liu of Shanghai listed a one-bedroom condominium at the building, as The Real Deal first reported. He paid $3.56 million for the unit in April 2012, but listed it for $6 million, or about $5,700 per square foot. [more]

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  • extell-belnord

    From left: Gary Barnett, the Belnord at 201 West 86th Street

    Extell Development has asked an appeals court to reargue a decision in favor of a tenant at the Belnord, a rent-stabilized building on the Upper West Side, which invalidated an unusual agreement between the owner and dozens of residents.

    A five-judge panel in the state Appellate Division ruled in November that the defendant, Jonathan Vincent, was protected from Extell’s bid to evict him by existing rent control laws. But the decision went a step further, tossing an agreement between the Belnord tenants’ association and the building’s previous owner in which the residents gave up some of their rights under rent-stabilization rules, including those related to succession rights, in exchange for vastly extended leases. [more]

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  • From left: Gary Barnett and 227 Cherry Street

    From left: Gary Barnett and 227 Cherry Street

    Extell Development’s forthcoming development on the Lower East Side site of the former Pathmark grocery store will involve a massive tower, according to a neighborhood official. [more]

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  • Jared Kushner, Gary Barnett and 80 West End Avenue

    Jared Kushner, Gary Barnett and 80 West End Avenue

    Nonprofit organization United Cerebral Palsy of New York City has inked a deal for 218,000 square feet of office space at 80 West End Avenue, an industrial building on the Upper West Side owned by Extell Development and Kushner Companies. [more]

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  • extell-belnord

    Gary Barnett and 201 West 86th Street

    A New York State appeals court has thrown out an unorthodox lease agreement between Extell Development and dozens of tenants at the Belnord on the Upper West Side, finding that the landlord could not write its own rules on rent stabilization, even with the tenants’ consent.

    The unanimous five-judge ruling overturns a New York State Supreme Court decision to evict Jonathan Vincent, the grandson of an elderly Belnord tenant who had moved into a nursing home. Extell sued to evict Vincent and his grandmother, Jean Uppman, in 2011, claiming the apartment was no longer her primary residence and that he was not a “tenant of record.” [more]

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  • angelo-gordon

    68 Charlton Street (via Curbed) and John Angelo

    Investment firm Angelo, Gordon & Co. intends to build a 13-story condominium building on a Hudson Square lot that former owner Extell Development planned to develop as a 35-story hotel.

    The property at 68 Charlton Street, near Varick Street, would be 115,296 square feet and hold 79 units. Amenities will include a gym, pool, basement steam room and children’s playroom. [more]

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  • Gary Barnett and a rendering of a living room at One Riverside Park (Credit: Wordsearch/Visualisation One)

    Gary Barnett and a rendering of a living room at One Riverside Park (Credit: Wordsearch/Visualisation One)

    Gary Barnett has pulled the remaining units at Extell Development’s One Riverside Park off the market pending a price adjustment, in response to the robust demand for the building. Sales were approved by the New York state attorney general 10 days ago. [more]

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  • Crane dangling from One57 after Hurricane Sandy and Gary Barnett (inset)

    Crane dangling from One57 at 157 West 57th Street after Hurricane Sandy and Gary Barnett (inset)

    Extell Development has finally taken down its much-maligned crane at One57, the developer said. “As One57 approaches completion, with its first closings scheduled for December, the crane was safely and successfully removed from the building this morning,” Extell said in a statement. [more]

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  • Barnett-Westbourne-Malone

    From left: Gary Barnett, 601-611 West 137th Street (Photo credit: PropertyShark) and Georgia Malone

    Gary Barnett’s Extell Development must pay $1.32 million to broker Georgia Malone after battling with her for nearly a year over how much commission she deserved on a multifamily building portfolio sale, court records disclosed today show. [more]

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  • 157 West 57th Street

    157 West 57th Street

    Extell Development’s much-maligned billionaire’s tower One57 is nearly sold out. [more]

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  • Jaron Benjamin

    Jaron Benjamin

    The city’s dearth of affordable housing can be directly tied to campaign finance laws that allow real estate developers to make huge campaign contributions, according to the director of the city’s oldest tenants’ union.

    “This year, after receiving tons of money from well-placed donors, the governor and members of the [New York] State Legislature quietly gave away millions of your tax dollars to developers of luxury towers,” Jaron Benjamin of the Metropolitan Council on Housing wrote in an op-ed, referring to a 421a tax abatement given to five New York City developers including Extell Development and Silverstein Properties. The dollars, Benjamin argues, could have been used to repair derelict apartment buildings or to give rent subsidies to people in need. [more]

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  • From left: 157, 215 and 225 West 57th Street and Gary Barnett

    From left: 157, 215 and 225 West 57th Street and Gary Barnett

    Despite Community Board 5′s reputation as one of the city’s kindest to developers, Extell Development’s Gary Barnett has made little headway in winning it over. [more]

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  • Rendering of the base of 217 West 57th Street

    225 West 57th Street

    The Landmarks Preservation Commission has voted in favor of the Nordstrom tower cantilever, moving Extell Development’s plans for 225 West 57th Street forward.

    Voting 6-1 in favor, the LPC closed the door on a debate about whether the cantilever would be an eyesore on the Art Students League of New York building next door. The overhang, it ultimately decided, posed no negative impact and will, according to one member of the commission cited by New York YIMBY, protect the building from intrusions and help preserve the landmark in its current state. [more]

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