Extell’s Gem tower finally ready to go up

New York /
Feb.February 15, 2011 12:28 PM

The steel for Extell Development’s International Gem Tower at 44 West 47th Street is set to rise the last week of March or the first week of April, Extell’s Raizy Haas told the Post. The $750 million, 34-story condominium tower, between Fifth and Sixth avenues, had its design by Skidmore Owings & Merrill unveiled nearly four years ago. But since the October 2008 market crash badly hurt the diamond industry, progress on the tower has been delayed. Now, Extell and Tishman Construction have just turned on their public information hotline as work begins, giving details on trenching, sandblasting and related activities for this month and next. The project is meant to serve as the new global headquarters of the gem industry, with the exception of 60,000 square feet of retail, including a restaurant. Haas said that with some 75,000 square feet of diamond-use deals expected to close soon, the project will have commitments for 200,000 square feet of the tower’s total 750,000 square feet by summer. To lure buyers, Extell has added amenities, including a private gym. “We’ll be out on the street for construction financing by summer, and we will deliver the units beginning in June 2012 and finishing by the end of 2012,” Haas added. [Post, 1st item]


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
Central Park Tower at 217 West 57th Street and Extell president Gary Barnett
Closings kick off at Central Park Tower
Closings kick off at Central Park Tower
Dov Hertz (Photo by Studio Scrivo)
The Closing: Dov Hertz
The Closing: Dov Hertz
Gary Barnett’s Extell Development with the $26.7M building he sold. (500w57 via Twitter)
Extell sells West 57th Street office to CBS
Extell sells West 57th Street office to CBS
Extell's CEO Gary Barnett (Central Park Tower)
Barnett secures $380M mezz financing for Central Park Tower
Barnett secures $380M mezz financing for Central Park Tower
Renderings of 1223 Spofford Avenue, Bronx, 153-10 88th Avenue, Queens and 1201 Spofford Avenue, Bronx (iStock, NYC Economic Development Corporation, Zara Realty)
The top 10 biggest real estate projects coming to NYC
The top 10 biggest real estate projects coming to NYC
Extell Development's Gary Barnett and Central Park Tower (Building photo via Central Park Tower)
Falling ice capades: Extell sued over icicles at Central Park Tower
Falling ice capades: Extell sued over icicles at Central Park Tower
Extell Development's Gary Barnett and 32 West 48th Street (Google Maps)
Extell makes its Diamond District hotel official
Extell makes its Diamond District hotel official
arrow_forward_ios

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

Loading...