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Posts Tagged ‘gary barnett’

  • From left: 331 Park Avenue South and Gary Barnett

    From left: 331 Park Avenue South and Gary Barnett (Credit: STUDIO SCRIVO)

    Gary Barnett’s Extell Development sold 331 Park Avenue South, one of the buildings the company acquired in 2013 as part of the F.M. Ring portfolio, for $39.5 million to Metro Loft, The Real Deal has learned.

    The purchase marks Metro Loft’s second acquisition from the portfolio. In December, the developer bought a 12-story building at 114 East 25th Street for $36.5 million. Extell paid $308 million for a 50 percent stake in the Ring package. [more]

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  • gladstone

    From left: Robert Gladstone, Gary Barnett and 212 Fifth Avenue

    UPDATED: 4:56 p.m., Jan. 14: An office building at 212 Fifth Avenue, the crown jewel of the Ring portfolio in Midtown South, will be converted into a residential project with 48 apartments, according to a permit application filed with the city today. Although Gary Barnett’s Extell Development officially owns the building and is listed on the permit, sources said the 220,000-square-foot, 24-story property is in contract to sell to Joseph Sitt’s Thor Equities for $260 million. Robert Gladstone’s Madison Equities and real estate investment firm Building and Land Technology (BLT) are also buying a stake in the property.  [more]

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  • Gary Barnett and 1010 Park Avenue

    Gary Barnett and 1010 Park Avenue

    Gary Barnett’s Extell Development won the approval of the Landmarks Preservation Commission for its proposed 16-story condominium project at 1010 Park Avenue, which will see the developer demolish a historic Park Avenue church rectory building. [more]

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  • Extell buys Midtown parking lot for $46M

    December 15, 2014 08:05AM
    From left: Gary Barnett and 251 West 45th Street

    From left: Gary Barnett and 251 West 45th Street

    With the purchase of a parking garage at 251 West 45th Street for $45.8 million, Gary Barnett’s Extell Development is one step closer to creating a massive midtown development. [more]

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  • Clockwise from left: 114 East 25th Street, Nathan Berman and Gary Barnett

    Clockwise from left: 114 East 25th Street, Nathan Berman and Gary Barnett

    Gary Barnett continues to make a killing on the Ring portfolio. His Extell Development just sold one of the portfolio’s former properties for $36.5 million to MetroLoft, a firm that specializes in converting commercial buildings into residential developments, The Real Deal has learned.  [more]

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  • From left: Gary Barnett (top left), Ziel Feldman and the Belnord

    From left: Gary Barnett (top left), Ziel Feldman and the Belnord at 225 West 86th Street

    Gary Barnett’s Extell Development is in contract to sell the Belnord, a storied, block-long rental building on the Upper West Side, The Real Deal has learned. Sources said the buyer is Ziel Feldman’s HFZ Capital Group, which has made several big bets on rental product in the neighborhood. Feldman also was one of Barnett’s investors when Barnett bought the Belnord in 1994 for the bargain price of $15 million. [more]

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  • From left: Gary Barnett, a rendering of One57 and John and Rebecca Moores

    From left: Gary Barnett (Credit: STUDIO SCRIVO), a rendering of One57 and John and Rebecca Moores

    Rebecca Moores, the ex-wife of Texas millionaire and former San Diego Padres owner John Moores, closed on a full-floor condo at Extell Development’s One57, paying $55.5 million, according to property records. [more]

    2 Comments
  • One57 at 157 West 57th Street and Gary Barnett

    One57 at 157 West 57th Street and Gary Barnett (Credit: STUDIO SCRIVO)

    Extell Development sold just one apartment at One57 in the third quarter of the year. [more]

    10 Comments
  • Gary Barnett and the Tel Aviv Stock Exchange

    Gary Barnett and the Tel Aviv Stock Exchange

    New York real-estate firms, including Extell and Zarasai Group, have issued bonds totaling $436 million on the Tel Aviv Stock Exchange. [more]

    2 Comments
  • From left: Stephen Ross, Gary Barnett and One57

    From left: Stephen Ross, Gary Barnett and One57

    Not to be confused with the “pied-à-terre tax,” the city is now mulling over the idea to raise the “mansion tax.” The proposal has an unlikely supporter- Related Companies’ chairman Stephen Ross. [more]

    9 Comments
  • From left: Jeffrey Feil (Credit: Steve Friedman), 251 Park Avenue South and Gary Barnett

    From left: Jeffrey Feil (Credit: Steve Friedman), 251 Park Avenue South and Gary Barnett

    The Feil Organization is in contract to buy Extell Development’s 251 Park Avenue South, The Real Deal has learned. The sale of the 103,000-square-foot building, one of the most coveted properties in the F.M. Ring portfolio, is expected to close for between $850 and $1,000 a foot, according to sources familiar with the transaction. [more]

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  • From left: 1681 Third Avenue and Gary Barnett

    From left: 1681 Third Avenue and Gary Barnett

    Extell Development Company applied for a permit to build a new residential property in Yorkville. [more]

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  • From left: Gary Barnett and the new model unit at One57

    From left: Gary Barnett and the new model unit at One57

    Extell Development boss Gary Barnett and interior designer Jamie Drake today unveiled a new model at One57 during a breakfast at the tower. [more]

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  • From left: Extell's Gary Barnett, One57 and Silas Chou

    From left: Extell’s Gary Barnett, One57 and Silas Chou

    Two big sales at Extell Development’s One57 hit public records today – totaling $79 million. [more]

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  • From left: Gary Barnett (Credit: STUDIO SCRIVO), 251 Park Avenue South and Frank Ring

    From left: Gary Barnett (Credit: STUDIO SCRIVO), 251 Park Avenue South and Frank Ring

    Extell Development’s Gary Barnett, in his own words, on how he outmaneuvered rivals and hostile sellers to seize control of one of New York real estate’s most coveted prizes: the million-square-foot F.M. Ring Midtown South portfolio. Read the full story after the jump.

    55 Comments
  • extell

    Gary Barnett (credit: STUDIO SCRIVO) and 123 West 57th Street in Midtown

    Gary Barnett’s Extell Development is in talks with the Calvary Baptist Church to acquire the church site at 123-141 West 57th Street for a project separate from the nearby One57.

    Calvary Baptist owns both the church and the Salisbury Hotel on the 191,000-square-foot site, between Sixth and Seventh avenues. FXFOWLE Architects and the architectural team at Extell are working on a design proposal, according to public records cited by the Wall Street Journal. The details of Extell’s plans for a site — if the deal closes — were undisclosed. [more]

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  • Gary Barnett versus everybody

    October 02, 2014 10:30AM
    Gary Barnett (Credit: Studio Scrivo)

    Gary Barnett (Credit: STUDIO SCRIVO)

    From the October issue: Some developers faced with public outrage over creating a so-called “poor door” would, well, duck out the back door. Not Gary Barnett. [more]

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  • Extell's development site at 429 West 36th Street

    Extell’s development site at 429 West 36th Street

    Gary Barnett’s Extell Development Corp. is looking to buy at least $30 million worth of air rights from the Port Authority of New York & New Jersey for a residential development site it owns in the Hudson Yards neighborhood, according to agency documents.

    Extell owns three properties between Ninth and 10th Avenues on the far West Side running block-through from 36th to 37th streets along Dyer Avenue, the sunken roadway that snakes from the Lincoln Tunnel to 30th Street. Extell’s site is surrounded by a number of hotel and residential developments in the booming neighborhood just north of the Related Companies’ and Brookfield Office Properties’ large, mixed-use projects. [more]

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  • From left:

    From left: Megalith’s Samvir Sidhu, 44 West 66th Street and Extell’s Gary Barnett

    Extell Development plans to build a large condominium tower in partnership with Megalith Capital Management a half a block from Central Park West on land each firm will contribute to the project, recent court records show. [more]

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  • 40 Riverside Drive and Extell's Gary Barnett

    40 Riverside Drive and Extell’s Gary Barnett

    Extell Development CEO Gary Barnett defended the “poor door” planned for his 33-story building at 40 Riverside Boulevard, arguing that it would have made no financial sense to incorporate affordable rental units into the condominium tower without it.

    Developers told the New York Times that a condo-and-rental building with separate entrances allows them to reserve the best location and amenities for condos seeking a high price. The income from those condos subsidizes the construction of the affordable-housing component, developers said. [more]

    5 Comments
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