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
Sam Zell’s luxury rentals regain pricing power
Sam Zell’s luxury rentals regain pricing power
Sam Zell’s luxury rentals regain pricing power
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
RealSure CEO Katie Finnegan (LinkedIn)
Realogy, Home Partners of America iBuying venture hires first CEO
Realogy, Home Partners of America iBuying venture hires first CEO
Gary Barnett and Central Park Tower at 217 West 57th Street
Why Gary Barnett is selling Central Park Tower at 25% off
Why Gary Barnett is selling Central Park Tower at 25% off
Leonard Bernstein’s “radical chic” penthouse sells for $24M
Leonard Bernstein’s “radical chic” penthouse sells for $24M
Leonard Bernstein’s “radical chic” penthouse sells for $24M
Assembly OSM cofounders William and Christopher Sharples with an illustration of the building design (AOSM)
Modular construction firm founded by SHoP principals unveils first apartment
Modular construction firm founded by SHoP principals unveils first apartment
Basketball star Ben Simmons with the Moorestown property (Compass, Getty)
Philadelphia 76ers’ fallen star Ben Simmons lists NJ mansion for $5M
Philadelphia 76ers’ fallen star Ben Simmons lists NJ mansion for $5M
arrow_forward_ios

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

Loading...