Barnett boosts projected sellout to $901M at DoBro condo

Extell raises total sellout projection to $901M at City Point tower

New York /
Feb.February 23, 2018 06:06 PM

Gary Barnett and City Point Brooklyn at 138 Willoughby Street

Gary Barnett is looking to sell condominium units for as much as $4 million at his mixed-use tower in the City Point complex in Downtown Brooklyn.

“That’s what passes as affordable nowadays,” the Extell Development chief told the New York Times.

Extell is shooting for a sellout of $901 million for the condos, which would be a record for Brooklyn. That’s up from the $838 million Extell had said it would aim for in 2016.

Barnett is also planning a record $4 billion sellout in Manhattan at his One Central Park tower.

The 68-story Brooklyn Point tower, Extell’s first in the borough, will have 458 condo units with prices ranging from $837,000 for studios to three-bedrooms starting at $2.9 million, according to the Times.

The Kohn Pedersen Fox-designed building will be the third tower at the 1.8 million-square-foot, mixed-use City Point project.

“We wanted something substantial enough to bring Extell from Manhattan,” Barnett said.

Extell paid $120 million to buy the site at 138 Willoughby Street in 2015 from Washington Square Partners and Acadia Realty Trust. [NYT]Rich Bockmann


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
Steven Mnuchin and 740 Park Avenue (Getty, Google Maps)
Steven Mnuchin’s $26M home finally finds a buyer
Steven Mnuchin’s $26M home finally finds a buyer
Robert Millard and 9 East 88th Street (MIT Corp, Google Maps)
Former Lehman exec lists Carnegie Hill mansion for $38M
Former Lehman exec lists Carnegie Hill mansion for $38M
April’s occupancy levels climbed to 61.6 percent, above March’s 60.9 percent. (iStock)
Demand for short-term rentals surges past pre-pandemic levels
Demand for short-term rentals surges past pre-pandemic levels
Cape Cod and the Jersey Shore suffered among the sharpest inventory declines. (iStock)
Here’s where homes virtually sold out in the pandemic
Here’s where homes virtually sold out in the pandemic
1384 Meadow Lane
The 20 priciest Hamptons sales this year
The 20 priciest Hamptons sales this year
Airbnb CEO Brian Chesky. (Airbnb, Getty)
Airbnb’s losing spree continues with $1B loss in Q1
Airbnb’s losing spree continues with $1B loss in Q1
Madison Realty principal Josh Zegen, Raphael Toledano with the properties at 325-329 East 12th Street and 223-235 East 5th Street (Madison Realty, Google Maps, Toledano by Michael McWeeney)
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
arrow_forward_ios

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

Loading...