The Real Deal New York

Extell to sell Midtown assemblage for north of $80M

Properties along West 47th Street offer a total of 128K buildable square feet

December 02, 2014 03:44PM


From left: Gary Barnett, 131-141 East 47th Street in Midtown and Clint Olsen

Gary Barnett’s Extell Development is in contract to sell four contiguous properties in Midtown to an unnamed Chinese developer for more than $80 million.

The buildings at 131-141 East 47th Street, between Lexington and Third avenues, offer a total of 128,000 buildable square feet. An 11-story parking garage, along with three walk-up buildings that are each four stories tall, occupy the site.

The properties were on the market for $80 million. Bob Knakal, Clint Olsen and Jonathan Hageman of Massey Knakal Realty Services marketed the site.

Earlier this year, Extell purchased a 68,676-square-foot East Harlem retail property that is home to a Pathmark supermarket, as The Real Deal reported. [NYO]Mark Maurer

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