Extell buys four Flatiron buildings from Duell for $50M

The deal is the latest of many between the two landlords

TRD New York /
Feb.February 19, 2016 02:07 PM

UPDATED: Feb 19, 3:55 p.m.: Gary Barnett’s Extell Development made yet another deal with the Duell family, buying four Adjacent Commercial Buildings On Sixth Avenue in the Flatiron District for a combined $50 million.

Extell, one of the city’s largest residential developers, picked up the 17,000-square-foot building at 530 Sixth Avenue – home to Moscot Eyewear – along with 536-540 Sixth Avenue, which is occupied by three buildings totaling 14,700 square feet.

The buildings collectively have about 63,500 buildable square feet, according to PropertyShark. There could be additional air rights from adjacent parcels, as Crain’s reported the site could accommodate 126,750 square feet of residential space.

In December, Barnett’s firm bought two Chelsea rental buildings from the Duells – at 116 Seventh Avenue and 204 117th Street – for $11 million. Extell also bought 502 Third Avenue, a rental property with ground-floor retail, from the family for another $11 million around the same time.

Barnett also reportedly bought 27 Washington Square North in Greenwich Village from the Duell family in January, paying $20 million, according to Crain’s. The buyer was unknown at the time the deal went down.

Correction: A previous version of this article stated that this transaction involved two buildings. It was actually two parcels containing four buildings. 


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
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
Lanhee Yung and Sush Torgalkar (Photos via Cornell; Getty)

Extell, Starwood alums seek $500M for “contrarian” investing

Extell, Starwood alums seek $500M for “contrarian” investing
Extell's Gary Barnett and a rendering of 50 West 66th Street (Courtesy of Snøhetta)

Judge throws cold water on Extell’s UWS condo development

Judge throws cold water on Extell’s UWS condo development
Tel Aviv Stock Exchange bull (Wikimedia Commons)

NYC developers face downgrades on Israeli bond market

NYC developers face downgrades on Israeli bond market
Claude Wasserstein and 995 Fifth Avenue (Getty, Google Maps, Sotheby's)

Claude Wasserstein relists UES penthouse for $55M

Claude Wasserstein relists UES penthouse for $55M
arrow_forward_ios

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

Loading...