Extell buys 57th Street air rights for tower

The Art Students League of New York has sold 135,000 square feet of air rights at 213 West 57th Street to Extell Development Corporation for an undisclosed sum. The sale transfers development rights to the old Hard Rock Caf building adjoining the league’s building to the west. Extell will use the air rights to develop a high-rise residential tower, according to a release from Colliers ABR, which brokered the sale for the league. By Tom Acitelli