Barnett refis Diamond District assemblage with $340M loan

Developer has strung together a baker’s dozen properties on the site

New York /
Feb.February 07, 2020 12:23 PM
Extell CEO Gary Barnett and JPMorgan’s Jamie Dimon (Credit: Getty Images)

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

UPDATED, Feb. 7, 2020, 4:15 p.m.: Gary Barnett refinanced his big Diamond District assemblage with more than $300 million from JPMorgan Chase.

The bank lent Barnett’s Extell Development $340 million for a baker’s dozen of properties along Fifth Avenue and around West 46th and West 47th streets, property records filed with the city Friday show.

Extell and JPMorgan did not immediately respond to requests for comment. Pincus Co. first reported news of the financing.

Barnett, who used to work in the diamond industry, has been assembling properties on the site. They sit across the street from another assemblage he has on West 48th Street, where as of late 2018 he was reportedly planning to build a hotel with “a few hundred keys.”

Elsewhere, Barnett is developing the 179-unit Central Park Tower on Billionaires’ Row. The project topped out in September.

Contact Rich Bockmann at [email protected] or 212-673-5081.

Update: This story has been updated to include the full amount of the loan.


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. Bluestone Group's Eli Tabak and 605 West 45th Street (Google Maps. LinkedIn, Extell Development)
Gary Barnett hunts lucrative Hell’s Kitchen assemblage
Gary Barnett hunts lucrative Hell’s Kitchen assemblage
 Extell’s Gary Barnett with Times Square Hard Rock Hotel (iStock)
Gary Barnett’s Extell repeats as Manhattan’s top borrower
Gary Barnett’s Extell repeats as Manhattan’s top borrower
Central Park Tower at 217 West 57th Street (Extell, Wikipedia)
Chinese furniture magnate purchases Central Park Tower pad for $15.3M
Chinese furniture magnate purchases Central Park Tower pad for $15.3M
NYC new development sales stay hot, but prices show signs of stabilizing
NYC new development sales stay hot, but prices show signs of stabilizing
NYC new development sales stay hot, but prices show signs of stabilizing
Extell offloads Far West Side dev site for $52M
Extell offloads Far West Side dev site for $52M
Extell offloads Far West Side dev site for $52M
Extell’s Gary Barnett with 77 West 66th Street (Extell, iStock, Pocketsights, Illustration by Shea Monahan for the Real Deal)
Barnett lands $900M for Disney UWS campus
Barnett lands $900M for Disney UWS campus
(Extell, Ritz Carlton, Gryffindor, CC BY-SA 3.0, via Wikimedia Commons)
Bank OZK dominated Manhattan’s top real estate loans in February
Bank OZK dominated Manhattan’s top real estate loans in February
arrow_forward_ios

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

Loading...