Barnett splits $37.5M penthouse where he once planned to live

New York /
Feb.February 13, 2012 10:00 AM

Extell Development has split the $37.5 million penthouse of 535 West End Avenue originally intended for the firm’s head into two apartments asking a combined $45 million, the Wall Street Journal reported.

When the 22-unit building hit the market in 2008, brokers were told the unit was being held for Extell President Gary Barnett, who was considering a move to the Upper West Side from Queens. But in July it went on the market with Raphael De Niro of Prudential Douglas Elliman. By November it had been pulled.

Plans filed with the Department of Buildings and the attorney general show each floor of the formerly 13,779-square-foot penthouse duplex in the 21-story building at 86th Street will be sold separately. Barnett said he split the unit after he got an offer to buy the top-floor apartment, which is now listed for $25.5 million and reportedly in contract.

Brokers and appraisers cited by the Journal said the initial price was too high and the unit was too big for the typical Upper West Side buyer, and even at the modified price, $25.5 million would be one of just seven units above West 63rd Street that sold for at least $20 million — and the only one not along Central Park West. [WSJ]


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 to build UES building around 2 occupant holdouts
Extell to build UES building around 2 occupant holdouts
Extell to build UES building around 2 occupant holdouts
From left: Robert Mercer with 48-05 Metropolitan Avenue and Gary Barnett with 17 West 60th Street (Getty, Google Maps, Bulado General Contractors Corp)
$730M loan bundle funds slew of NYC projects
$730M loan bundle funds slew of NYC projects
Gary Barnett and Central Park Tower at 217 West 57th Street
Why Gary Barnett is selling Central Park Tower at 25% off
Why Gary Barnett is selling Central Park Tower at 25% off
Extell Development chairman Gary Barnett and the empty lot between 79th and 80th on First Avenue (Google Maps)
Extell building 30-story medical tower on UES
Extell building 30-story medical tower on UES
Extell's Gary Barnett and Central Park Tower
Central Park Tower condo sells for half its asking price
Central Park Tower condo sells for half its asking price
arrow_forward_ios

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

Loading...