The Real Deal New York

Posts Tagged ‘extell development’

  • A rendering showing the expansive views from a One57 apartment

    A rendering showing the expansive views from a One57 apartment

    From the May issue: Gary Barnett’s One57 is the most talked-about residential project to hit the city since 15 Central Park West. But while it may be providing juicy, of-the-moment fodder for the industry, the land for the 90-story skyscraper took a decade for Barnett and his team at Extell Development Company to assemble. [more]

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  • 62a

    From left: 157 West 57th Street, Brenda Powers and Elizabeth Sample

    A day after the $31.7 million sale of a three-bedroom condominium at Extell Development’s One57 hit property records, the sponsor unit is once again fair game and on the market for a price nearly $10 million higher, according to StreetEasy data. [more]

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  • 220-CPS2

    From left: 217 West 57th Street, 220 Central Park South and another view of 217 West 57th Street (credit: Andrew McKeon)

    WEEKENDEDITION Excavation is now fully underway at both Extell‘s 217 West 57th Street and Vornado’s 220 Central Park South. [more]

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

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

    Gary Barnett’s Extell Development closed on a $410 million refinancing of the Ring portfolio, according to property records filed with the city this morning. Extell borrowed a further $95 million on the properties from Deutsche Bank, following a $315 million loan it received from the bank in January. [more]

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  • Gary Barnett and 1010 Park Avenue

    Gary Barnett and 1010 Park Avenue

    The Landmarks Preservation Commission has voted in favor of the proposed Park Avenue Historic District, which comprises approximately 68 buildings between 79th Street and 96th Street on Park Avenue. [more]

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  • Extell's Gary Barnett (inset) and 1010 Park Avenue

    Extell’s Gary Barnett (inset) and 1010 Park Avenue

    Extell Development’s likely plan to replace a Park Avenue church rectory with a condominium tower may hinge on a Landmarks Preservation Commission ruling on the building’s style.

    Church members, preservationists and neighbors asked the commission to rule on whether the Park Avenue Christian Church rectory, located at 1010 Park Avenue at East 85th Street Street, should be listed on a city landmark report as “Gothic Revival” or with no specific style. Should the LPC rule the former, the annex would probably be protected from demolition. [more]

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  • 227 Cherry Street

    227 Cherry Street

    Preliminary documents for Extell Development’s 68-story tower on the former Cherry Street Pathmark site emerged yesterday, calling for a building more than 1.2 million square feet in size. [more]

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  • Extell Development's Gary Barnett

    Extell Development’s Gary Barnett

    The average price of air rights in Manhattan jumped 47 percent year-over-year — to $305 per square foot in 2013 — as the ballooning price of land pushed developers to build taller. Gary Barnett’s Extell Development did the most air rights deals of any developer last year. [more]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • One57 sponsor unit sells for $30M

    April 04, 2014 02:10PM
    one-57-heritage

    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]

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  • 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]

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  • 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]

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  • 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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