Extell sells Flatiron garage at new condo site

Skyway, Kash Group pay $32M for seven-story building

TRD NEW YORK /
Jun.June 16, 2016 06:00 PM

The Kash Group’s Shlomo Bakhash and Skyway Development Group’s Steve Mashaal picked up a Flatiron District parking garage adjacent to a new 15-story condominium tower.

The developers paid $32.2 million to Extell Development for the seven-story, 52,300-square-foot property at 19 West 20th Street. Icon Parking has the ground lease, which expires in 2033.

Sources said Bakhash and Mashaal currently have no plans to redevelop the property.

Gary Barnett’s Extell has owned the garage since 2008, when it paid $28 million.

The garage is part of a site that has largely been developed into a 13-unit luxury condo developed by Gale International that opened last year. Gale had acquired the air rights above the garage for its project.

An Avison Young team led by Vincent Carrega, Neil Helman, Charles Kingsley and Jon Epstein represented the seller.


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, Central Park Tower, and the Tel Aviv Stock Exchange Bull (Credit: Wikipedia, iStock)

Extell’s Israeli bonds put on downgrade watch

Clockwise from the top: 500 East 30th Street, 1 Ellis Street and 2555 Broadway (Credit: Google Maps)

NYC’s 10 biggest new real estate projects

One Manhattan Square’s adult treehouse (Credit: Extell)

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square

Extell CEO Gary Barnett and JPMorgan’s Jamie Dimon (Credit: Getty Images)

Barnett refis Diamond District assemblage with $340M loan

Gary Barnett and an aerial view of 2551 Broadway (Credit: Google Maps)

Extell proposes UWS mixed-use tower after completing assemblage

Renderings of Central Park Tower (Credit: Extell)

Inside Extell’s private club for the 0.1%

Gary Barnett

Quantifying the rise and fall of NYC’s condo market

arrow_forward_ios
Loading...