The Real Deal New York

Extell to include dorm in Midtown rental tower project

Gary Barnett in talks with several universities
August 13, 2014 12:00PM

Extell Development is constructing its first dormitory housing as part of a 52-story Midtown residential tower at 547-555 10th Avenue.

The developer will include 300 dormitory beds on the second through seventh floors. Gary Barnett is in talks with several universities, according to the New York Observer. Students would enter the 710,907-square-foot Property Along 41st Street.

The building will primarily hold rental units. Of the 600 apartments, 120 are slated for affordable housing. There will also be a bowling alley, dog washing station, indoor pool, yoga facility and gaming lounge. The roof will feature another pool as well as cabanas and a dining area. The students would not be able to access those amenities, the Observer said.

In 2011 Barnett signed a 99-year ground lease with the estate of Sol Goldman, and in 2012, he bought air rights from the neighboring Roman Catholic Church. [NYO]Mark Maurer