One57 is 90% sold: Extell announces Q1 sales
This may be the year Gary Barnett’s groundbreaking Billionaires’ Row tower finally sells out. There are just five unsold...
Extell Development
About: Extell Development is a New York City-based real estate development company.
Headquartered in: New York, NY
Founded in: 1989
Founded by: Gary Barnett
Extell Development Q&A
What does Extell Development do?
Extell develops real estate. Its projects have included the 1,000-foot One57; the W Hotel in Times Square, which opened in 2002; 45 Walker Street, an office-to-loft-condominium conversion in Tribeca; and the International Gem Tower in the Diamond District. It is developing a supertall mixed-use condominium along Billionaires' Row at 217 West 57th Street in Midtown called Central Park Tower. The first few floors of the tower will house Nordstrom, an upscale department store.
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Check out our Top Stories below for The Real Deal's most up-to-date coverage of Extell.
Extell Development Top Stories
August 29, 2019—Extell Development has refinanced the 815-unit condo project at One Manhattan Square with a $560 million senior inventory loan and $140 million in mezzanine debt.
The Latest
Extell sells One57 sponsor unit for $17M
UPDATED, April 15, 2021, 6:50 p.m.: Extell Development has sold a sponsor unit at One57 for $16.8 million. But the buyer’s identity is unclear. Records show that Colgate University professor Caroline Keating is the...
Buyers taking advantage of New York City’s condo glut
One of economists’ favorite expressions is Herbert Stein’s “if something cannot go on forever, it will stop.” Just ask...
Closings kick off at Central Park Tower
UPDATED, Feb. 25, 2021, 11: 25 a.m.: Move-in day is approaching for buyers at the world’s tallest residential tower. Gary Barnett’s Extell Development is commencing closings at Central Park Tower, the developer announced Thursday....
Issue
The Closing: Dov Hertz
Dov Hertz has left an indelible mark on New York’s skyline. Two marks, actually. Over the course of 14 years heading up acquisitions and assemblage for Extell Development, Hertz helped put together the sites...
Extell sells West 57th Street office to CBS
UPDATED, Feb. 17, 2021, 1:00 p.m.: Two mid-market deals were recorded last week for a total of nearly $57.7 million in transaction volume: one in Manhattan, and one in Brooklyn, both involving familiar players....
Barnett secures $380M mezz financing for Central Park Tower
Gary Barnett landed $380 million in bridge financing for his $4 billion Central Park Tower supertall condo tower. Barnett’s...
The top 10 biggest real estate projects coming to NYC
Two pieces of the city’s redevelopment of the former Spofford Juvenile Detention Center in the Bronx made the list...
Falling ice capades: Extell sued over icicles at Central Park Tower
First, a dying luxury market. Then a pandemic. And now, a dispute over falling icicles. Falling icicles? That’s according...
Extell makes its Diamond District hotel official
Hotels have faced their fair share of trouble during the pandemic, with some defaulting on their loans and others...