Church property could be key component of new Extell tower

Congregants to decide this year whether or not to sell two properties at 123 West 57th Street

TRD New York /
May.May 04, 2015 08:00 AM

The Calvary Baptist Church On West 57th Street is planning to decide whether or not to sell two properties to Gary Barnett’s Extell Development.

The sanctuary, as well as the 197-key Salisbury Hotel at 123-141 West 57th Street, could be a key component of another project by the One57 developer on the same block, according to Crain’s. Barnett has been in talks with Calvary Baptist since last fall.

Extell’s exact plans with the site aren’t known yet, but a new project could rival One57 in size and scope, the website reported.

The church’s properties could be worth upward of $100  million, Crain’s reported. Extell, which is known for creating assemblages, has already bought multiple parcels on 57th Street. If the church decides to sell, however, it could double the developer’s plans.

“We look forward to a year in which God guides us through the challenges of everyday service, and brings a conclusion to our journey through the land of redevelopment and building study,” Calvary Baptist’s Board of Deacons chairman John Clenance wrote in a report that was posted on the church’s website, according to Crain’s. A final vote on whether or not to sell will likely happen by the end of the year. [Crain’s] — Claire Moses


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

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Extell Development chairman Gary Barnett and One Manhattan Square (Credit: Anuja Shakya, StreetEasy)

Rent now, buy later at Extell’s One Manhattan Square

206 West 17th Street, 116 7th Avenue, and Extell Development’s Gary Barnett (Credit: Google Maps)

What rich people in NYC will pay to keep their view: TRD analysis

Extell Development's Gary Barnett (Credit: Getty Images and iStock)

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower

José Cuervo owner Juan Beckmann Vidal and 1010 Park Avenue (Credit: Getty Images, StreetEasy)

Mexican billionaire buys Park Ave pad for $25M amid shopping spree

From left: 241 East 73rd Street, 1514-1528 First Avenue, and Extell Development's Gary Barnett (Credit: Google Maps)

Here’s what the $10M–$20M NYC investment sales market looked like last week

Central Park Tower

Extell just went public with Central Park Tower listings

arrow_forward_ios