Extell Development

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.
Want to know more about Extell?
Check out our Top Stories below for The Real Deal's most up-to-date coverage of Extell.

Extell Development Top Stories

August 29, 2019Extell 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's Gary Barnett and One57 (Getty)

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...

One57 is 90% sold: Extell announces Q1 sales
Extell sells One57 sponsor unit for $17M

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...

Extell sells One57 sponsor unit for $17M
The soft market for luxury units has some developers hard up. (Getty)

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...

Buyers taking advantage of New York City’s condo glut
Central Park Tower at 217 West 57th Street and Extell president Gary Barnett

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....

Closings kick off at Central Park Tower
Dov Hertz (Photo by Studio Scrivo)
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...

The Closing: Dov Hertz
Gary Barnett’s Extell Development with the $26.7M building he sold. (500w57 via Twitter)

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....

Extell sells West 57th Street office to CBS
Extell's CEO Gary Barnett (Central Park Tower)

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...

Barnett secures $380M mezz financing for Central Park Tower

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