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Barnett boosts projected sellout to $901M at DoBro condo
Extell raises total sellout projection to $901M at City Point tower
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