The Real Deal New York

Barnett may foil Witkoff’s bid to build supertall at Park Lane Hotel site

Extell chief talks to 30 CPS board about possible purchase
April 07, 2015 10:12AM

Extell Development’s Gary Barnett has approached the co-op board of 30 Central Park South — a former hotel that now primarily houses dentists’ offices — about a possible purchase. The move could make it challenging for Steve Witkoff and Harry Macklowe, who own the nearby Park Lane Hotel as well as an adjacent rental building, to build a supertall structure at the Park Lane site.

Witkoff and Macklowe bought the Park Lane Hotel for $660 million in 2013, and also own 21 West 58th Street, which is located right behind 30 Central Park South, the New York Times reported.

If both the Park Lane Hotel and 21 West 58th are demolished, the partners could build an 80-story skyscraper at their site. And if 30 Central Park South were incorporated, it could be even taller. But if Barnett takes control of 30 CPS, he could hold up the Witkoff-Macklowe project or build his own project there. He held up a similar project by Vornado Realty Trust at nearby 220 Central Park South, . [NYT]Claire Moses

  • BH

    is Barnett a madman, or an evil genius?

  • BRAVO!!! They get it: 111W57.c


    A similar scenario is developing with 222 Central Park South.

    Gary Barnett is trying to buy it and stick it to Vornado once again.

  • Fact Check

    Typical Real Deal headline idiocy. Gary cannot “foil” a Park Lane redevelopment by acquiring an overbuilt 50×100 lot boxed in by another overbuilt lot to the east (i.e. no air rights). Even if air rights were available, the zoning requires setbacks / sky exposure planes, rear yards, etc. that make it impossible to build tall as-of-right. Even ignoring all of the above, at worst a neighboring development would impede some views at Witkoff’s site.

    With the 58th St property in contract, Witkoff’s site is virtually the mirror image of the 220 CPS lot. The drawback to redeveloping Park Lane is that the existing hotel is ~370K zoning SF (per a BSA variance 40 years ago) whereas a ground up redevelopment or residential conversion would only allow for 243K zoning SF as-of-right. Buying out the hotel union will also be annoying.