Construction slated to begin at Extell’s Midtown Hyatt

New York /
Aug.August 30, 2011 08:27 AM

Extell Development has begun building a Midtown Hyatt hotel at 135 West 45th Street that some had predicted might never happen, the New York Post reported.

The midblock site between Sixth Avenue and Times Square had sat dormant despite Extell Development having assembled the land and air rights and poured a foundation. Now, the arrival of a tower crane at the site indicates movement.


The Real Deal
previously reported that the 50-story hotel project would go ahead despite the company having sold off 11 commercial property lots in Midtown for approximately $125.16 million, including the hotel site.

According to documents filed with the city in July, the buyer in the bulk property sale, which included lots on 45th and 46th streets, was HHC TS REIT LLC. Barnett is still declining to identify the LLC.

“We’re moving forward rapidly,” Barnett told the Post.

He estimated the construction cost as above $300 million. [Post]


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's Gary Barnett and One57 (Getty)
One57 is 90% sold: Extell announces Q1 sales
One57 is 90% sold: Extell announces Q1 sales
Extell sells One57 sponsor unit for $17M
Extell sells One57 sponsor unit for $17M
Extell sells One57 sponsor unit for $17M
The soft market for luxury units has some developers hard up. (Getty)
Buyers taking advantage of New York City’s condo glut
Buyers taking advantage of New York City’s condo glut
One57's unit 51B (left) and unit 32C with Extell’s Gary Barnett (One57 photos via StreetEasy)
One57 resident pays $5.2M to swap 2-bed for duplex
One57 resident pays $5.2M to swap 2-bed for duplex
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
arrow_forward_ios

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

Loading...