A busy Barnett keeps producing despite setbacks

TRD New York /
Apr.April 05, 2010 04:37 PM

Gary Barnett has his hands full with the recent $170 million acquisition of the Helmsley Carlton House hotel on Madison Avenue, the looming threat of millions of dollars in forced rent refunds at his luxe Upper West Side renovation project, the Belnord, and a flurry of lawsuits from buyers trying to back out of their contracts at his 80 Riverside Boulevard condominium, the Rushmore. Still, the Extell Development head has benefited from a cautious approach to real estate over the past decade, putting down 20 percent on many of his boom-time acquisitions, while his peers were going in on as little as 5 percent. So despite his recent challenges, it’s not a stretch to say that Barnett is among the most prolific real estate developers in the city, as Crain’s does in a profile of the developer this week. His roster of current projects alone includes the almost-finished 535 West End Avenue condo, the 34-story International Gem Tower going up at 44 West 47th Street, the massive Riverside Center complex planned for the Upper West Side waterfront, to name a few. As for his personal life, a cagey Barnett refused to tell Crain’s his age (53, sources say), his wife’s name (Ayala, according to public records), or how many children he has (more than five, say the sources).


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Extell lands $690M refinancing package for One Manhattan Square
Extell Development's Gary Barnett (Credit: Getty Images and iStock)

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Central Park Tower

Extell just went public with Central Park Tower listings

Extell just went public with Central Park Tower listings
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
HNA Group’s Guoqing Chen, One57 and  and Gary Barnett (Godsfriendchuck via Wikipedia)

HNA’s fire sale continues with One57 deal

HNA’s fire sale continues with One57 deal
Gary Barnett, Lars Windhorst and 50 West 66th Street (Getty, Extell)

Extell pushes forward plans for UWS condo with new partner

Extell pushes forward plans for UWS condo with new partner
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Gary Barnett and 149 East 124th Street (Credit: Google Maps)

Extell’s plan for East Harlem development site revealed

Extell’s plan for East Harlem development site revealed
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...