Extell: 740 Eighth Ave project with thrill ride is legal

An 84-second thrill ride is generating a much lengthier discussion at Gary Barnett’s Theater District hotel project.

Opponents are challenging the Extell development at 740 Eighth Avenue on the basis of its free-fall amusement, Crain’s reported. Zoning expert George Janes alleges the Department of Buildings should not have approved the ride, which would carry a dozen customers 260 feet up before letting gravity do its thing.

Extell says the project is as-of-right, meaning it complies with the site’s zoning, and the city has agreed. Also, it was filed and approved in 2021, before a city law took effect requiring a special permit for new hotel construction.

It is not clear why the project recently came before Community Board 5’s land-use committee, which provides advisory opinions on applications for new zoning, special permits and landmarks approval.

Extell’s plan also has supporters, notably the Times Square business improvement district and the Hotel Association of New York City. They say the attraction fits the character of Times Square and would draw tourists and guests. A few hospitality properties across the country have added a ride or two to boost business.

Hotel Association president Vijay Dandapani told Crain’s the project “will definitely play a role in the revival of tourism.”

Some opponents believe the free-fall ride is a ploy to allow Extell to build bigger — 52 stories and 1,067 feet — than it otherwise could. They also fear that the ride could usher in a new era for Times Square, where SL Green has proposed a casino.

“New York City gets an enormous amount of tourists,” Olive Freud, president of the Committee for Environmentally Sound Development, told Crain’s. “They see shows, walk Times Square, see the city lights, have wonderful food, but they don’t go on amusement park rides unless they go to Coney Island, and this is bringing Coney Island to Midtown.”

The 776,000-square-foot, mixed-use project would have more than 1,000 hotel rooms, plus restaurants, bars, retail establishments, a gym and an observation deck. The ride would be between the observation deck and the top of the hotel.

“This building is compliant with zoning and the Department of Buildings has approved its inclusion of an indoor amusement attraction,” an Extell spokesperson told The Real Deal. “It is not Use Group 15, which refers to outdoor amusements and amusement parks. Additionally, the building is located in the C6-5 zoning district in the Theater Subdistrict Core, where amusement and entertainment uses are appropriate and encouraged.”

The project is expected to be completed in mid-2027.

— Holden Walter-Warner