Extell

Yesterday, Gary Barnett's Extell (the developer behind the Nordstrom Tower, One57, and the controversial 250 South Street, to name just a few) filed a string of demolition permits with the city's Department of Buildings to raze six buildings along West 46th Street between Fifth and Sixth Avenues. The doomed four- and five-story structures are at 3 West 46th Street, 5 West 46th Street, 7 West 46th Street, 9 West 46th Street, 11 West 46th Street and 13 West 46th Street. And on Monday, The Real Deal reported that Barnett has secured ownership of two neighboring properties at 562 and 564 Fifth Avenue from Thor Equities and SL Green Realty. The prolific developer also owns 2 and 10 West 47th Street on the northern side of the block in the heart of the Diamond District. Back in 2014, sources said that Extell was planning for a new hotel tower at the site, but given the large amount of land the savvy developer has assembled (more than 30,000 square feet by our count) it will likely yield the largest tower built on Fifth Avenue in more than a generation.
More details ahead

New Developments

December 2, 2015

Revealed: See the Insanely Luxurious Amenities Inside Extell’s Controversial 80-Story LES Tower

Extell hasn't been making many friends with its new tower currently on the rise at 250 South Street, right next to the Manhattan Bridge. But even with hordes of locals cursing the mega-sized 80-story tower, Extell seems unfazed by the hate. Not only have they been unwavering about the development's 850-foot out-of-context height (the Manhattan Bridge is only 330 feet tall, mind you), the developer also has little interest in selling any units to anyone stateside, instead marketing their condos first to Asian buyers. Now, The Lo-Down has gotten their hands on the brochure that's being sent to Asia's wealthiest, an 88-pager revealing fancy apartment interiors and all of the "over-the-top" amenities that will fill the building, including things like a 70-seat movie theater, a tree house, a tea pavilion, a putting green, a sunken tranquility garden, a bowling alley, 75-foot indoor pool, a dog spa, a cellar bar...As written in the packet: "One Manhattan Square will redefine downtown luxury living."
Images inside the the tower here

October 15, 2015

First Full Look at Extell’s 80-Story One Manhattan Square, 800 Condos Aimed at Asian Buyers

Bloomberg News reported yesterday that the restless developer Gary Barnett will soon begin marketing the 800 condominiums of his upcoming One Manhattan Square development to Asian buyers first. Apparently not satisfied with erecting two of the tallest and priciest residential buildings in the city, One57 and the Central Park Tower, the Extell Development Company founder and CEO is busy laying the groundwork for one of the largest condominium towers in the city at the foot of the Manhattan Bridge. Going by the address 252 South Street, the bipartite tower is being designed by Adamson Associates Architects (AAI) and will soar 80 stories tall, roughly to the same height as the Comcast Building (former GE/RCA Building) in Midtown. At nearly 850 feet, the tower will be the tallest skyscraper on the island between Midtown and downtown, and by far the tallest building directly along the waterfront. Its staggering 800 units will fall just short of the city's largest individual condo-tower, the 816-unit Corinthian in Murray Hill.
More details on the development

July 28, 2015

Renderings Revealed for Bjarke Ingels’ Curved Harlem Apartment Building

Now that the hoopla surrounding his design for Two World Trade Center has simmered down, we've got a fresh set of renderings from Danish starchitect Bjarke Ingels. NY Yimby revealed the preliminary designs for his firm's 11-story East Harlem apartment building at 146 East 126th Street, which show a T-shaped structure that cantilevers over the Gotham Plaza retail center on 125th Street. The real fun is on the 126th Street side, though, where Bjarke employs a play on the conventional street wall with an undulating facade that seems to be a modern interpretation of the surrounding brick buildings. The project is being developed by none other than Extell, along with the Blumenfeld Group.
More details and renderings here

July 15, 2015

POLL: Are You For or Against Extell’s 800-Foot Tower at 250 South Street?

Extell’s 800-foot tower at 250 South Street has been controversial since day one. As we recounted on Friday, “The building was first reported to be 68 stories, then 71 stories, then 56 stories, and now the latest filing with the Department of Buildings has a revised height pinned again at 68 stories, or 800 feet […]

New Developments

July 15, 2015

One57 Received $66M in Tax Breaks in Exchange for Just 66 Units of Affordable Housing

If you need more proof that there are some serious flaws with the 421-a program, once again, look no further than One57. As reported by the Journal, the super-luxe tower was the beneficiary of a whopping $65.6 million tax cut, an abatement granted in exchange for a paltry $5.9 million contribution to help cover the cost of 66 affordable apartments in the Bronx. That means your tax dollars subsidized apartments at nearly $1 million per unit—the highest known subsidy under the program—when affordable units on average cost a mere $179,000 apiece. It's estimated that the generous cut could have provided for 367 affordable apartments. The findings came from the latest review by the city’s Independent Budget Office (IBO).
FInd out more here

Affordable Housing

July 10, 2015

Construction Update: Extell’s Controversial 800-Foot Tower Ready to Rise at 250 South Street

After being slapped with a partial stop-work order about three weeks ago for causing a local street to sink, Extell's Lower East Side mega-development at 250 South Street appears to be back on track. A recent visit to the site shows that piles for the building are again being driven into the bedrock. However, it appears excavation will continue to be an arduous journey since most of the parcel sits on landfill and is only a few feet above street level. Since its reveal last year, the tower has been met with intense public outrage due to its unprecedented height for the mid-rise neighborhood. The building was first reported to be 68 stories, then 71 stories, then 56 stories, and now the latest filing with the Department of Buildings has a revised height pinned again at 68 stories, or 800 feet at its highest floor. To put that in perspective, the neighboring Manhattan Bridge is only 330 feet tall, and just 170 feet at its roadway—meaning the building will be nearly five times the height of the bridge's road deck.
FInd out more here

New Developments

June 29, 2015

‘Poor Doors’ No Longer Allowed with New Rent-Regulation Bill

Thanks to a provision added to the newly extended and altered 421-a tax abatement passed last week, developers looking to segregate their wealthy tenants from their affordable rate renters will have to think again. According to The Post, Mayor de Blasio inserted a reform into the tax program plan that would ban the practice in which developers build a separate entrance for folks occupying the cheaper, below market-rate apartments in their buildings—better known as "poor doors."
More on the move here

June 24, 2015

POLL: How Do You Like the Nordstrom Tower’s New Name, Central Park Tower?

We knew the name Nordstrom Tower wasn’t going to stick; the unofficial moniker came only from the fact that the building will have a Nordstrom department store at its base. And just a week after news hit that the supertall from Extell will be the country’s highest by roof height, we’ve learned the official name: Central Park […]

June 16, 2015

Extell’s Nordstrom Tower Will Be the Country’s Tallest by Roof Height

The Nordstrom Tower may not become the overall tallest building to ever rise NYC, besting One World Trade Center as previously reported and then rebuffed, but new filings unearthed by NY Yimby show that the supertall will still carry a very worthy, head-craning title. Documents show that the 95-story building will become not only the tallest building by roof height in NYC, but also in the country at 1,522.83 feet.
get the scoop here

Extell May Build Brooklyn’s Tallest Tower at City Point

Rendering of City Point with a previously envisioned 65-story tower

June 3, 2015

Extell May Build Brooklyn’s Tallest Tower at City Point

Extell, the development company best known for gobbling up billionaires' row sites and building supertall towers like One57, is venturing into Brooklyn, a place they've long avoided. The New York Times reports that Extell has bought the last development site at City Point, a huge, mixed-use complex in Downtown Brooklyn that will include residential and retail space, and, of course, a massive food hall. Extell will pay $120 million for the city-owned property, on which they will likely build a 500-unit rental building. What's more noteworthy than Extell's move into the borough, though, is the fact that the tower could reach 60 stories, according to Extell president Gary Barnett, which would make it the tallest building in Brooklyn.
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May 22, 2015

Fully-Furnished Rentals Launch at One57

In the past when we've talked about the latest occupancies at billionaires' row blockbuster One57 we were referring to the record-breaking $100 million condo sale (the most expensive in the city ever) or Bill Ackman's $91.5 million flip attempt. But now those looking to get in on the city's most expensive condo building can do so without dropping seven figures in one fell swoop. Extell Development, after selling most of the condos at One57, has quietly listed 38 fully-furnished apartments for rent on the building's seven lower residential floors. But don't get too excited if you're not in the billionaires' club; asking prices range from $13,350/month for a one-bedroom unit to $50,366 for a three-bedroom.
More details ahead

Real Estate Trends

Extell Shoots for a $4.4B Sellout with the Nordstrom Tower, the Most Expensive Ever

Image: the Nordstrom Tower penthouse

May 14, 2015

Extell Shoots for a $4.4B Sellout with the Nordstrom Tower, the Most Expensive Ever

Extell has plenty to brag about, from claiming fame to the city's top two most expensive sales to being credited with starting the whole superluxury supertall tower boom. But according to the Wall Street Journal, the development company's head honcho and mastermind Gary Barnett is vying for another record, aiming to make his next skyscraping creation, the Nordstrom Tower, the most expensive building ever sold at $4.4 billion.
more details here

Official Rendering Revealed for Nordstrom Tower: No Surprises but Potential for More Height

Image of Nordstrom Tower/217 West 57th Street, via YIMBY

May 14, 2015

Official Rendering Revealed for Nordstrom Tower: No Surprises but Potential for More Height

By Michelle Cohen

Recent reports revealing a potential pinnacle bump for Extell's supertall planned for 217 West 57th Street, followed by a statement by Extell's Gary Barnett denying the new height report–which would have the tower outstreching One World Trade Center–have discussion once again focused on the world's tallest residential tower-in-waiting. Today NY Yimby reports that an official Extell rendering of the project confirms it will match earlier versions of the plans as well as previously-revealed in-house images.
Find out the latest on the tower's height

The Nordstrom Tower Will Not Be Taller than 1 World Trade Center, Says Developer Gary Barnett

Rendering of the tower NY Yimby

May 12, 2015

The Nordstrom Tower Will Not Be Taller than 1 World Trade Center, Says Developer Gary Barnett

Yesterday, new details on Extell's Nordstrom Tower were leaked, stating that the tower's height had been stretched 20 feet to trump the One World Trade Center. But it looks like the news was all fodder as Extell Development boss Gary Barnett has stepped out denying that his supertall slated for 217 West 57th Street will reach such heights. The NY Post spoke with Barnett late yesterday and the developer told the paper that the tower “will categorically not be taller than One World Trade Center.” Barnett clarified that the building will reach 1,775 feet (with its spire) as planned, which is just one foot shorter than the One World Trade Center.
More on what Barnett had to say

Nordstrom Tower Adds 20 Feet to Become the Tallest Building in NYC and Western Hemisphere

Rendering of the tower at its new height by NY Yimby

May 11, 2015

Nordstrom Tower Adds 20 Feet to Become the Tallest Building in NYC and Western Hemisphere

One World Trade Center's claim to the title as the city's tallest building could soon be nil. NY Yimby reports that the ultra-super-tall Nordstrom Tower at 217 West 57th Street has experienced a growth spurt that's pushed its already jaw-dropping height from 1,775 to 1,795-feet. Though the addition of 20 feet seems insignificant for a skyscraper of such size, the consequences are not: The tower will now not only be the tallest building in the city (19 feet higher than 1 WTC) when completed, but also the tallest in the U.S. and the western hemisphere.
FInd out more here

Extell Looks to Religion to Build Its Next 57th Street Supertall Tower

The possible skyline in 2018, via CityRealty

May 4, 2015

Extell Looks to Religion to Build Its Next 57th Street Supertall Tower

In the past, it was street names like Park Avenue and Central Park West that signaled a building's wealth and prestige, but these days it's gotten confined to a much shorter thoroughfare, 57th Street. Appropriately dubbed Billionaires' Row, the stretch has gotten much heat lately for its influx of supertall towers casting shadows on Central Park just to the north. Three of the towers in this sky-high lineup belong to Extell Development: the under-construction Nordstrom Tower at 217 West 57th Street, which will be the tallest residential building in the world when completed; 111 West 57th Street; and everyone's favorite One57. But now, as Crain's reveals, Extell is looking to expand its 57th Street portfolio with the site of the current Calvary Baptist Church and the Salisbury Hotel at 123 West 57th Street, on the same block as 111 West 57th and One57. As the paper reports, the church "will soon decide whether it will sell its sanctuary and 197-room hotel" to the developer.
More on the possible project here

April 21, 2015

Extell’s ‘Poor Door’ Building Receives a Staggering 88,000 Applicants

Poor doors be damned. It looks like the anger and public outcry swirling around Extell's new 50 Riverside Boulevard condo didn't do much to deter New Yorkers from vying for a low-income unit at the building. The Times reports that the development company received a whopping 88,000 applications for the building's 55 affordable apartments after they opened up the lines back in February. The overwhelming demand is most certainly a win for developer Gary Barnett, who found himself in the hot seat for creating a separate entrance for low-income tenants, away from the market-rate residents. When speaking to the paper, Barnett called the whole poor door ordeal a “made-up controversy” adding to that “I guess people like it. It shows that there’s a tremendous demand for high-quality affordable housing in beautiful neighborhoods."
So do poor doors really matter?

New Renderings Revealed for 217 West 57th Street, the Will-Be Tallest Residential Building in the World

Rendering via NY Yimby

April 20, 2015

New Renderings Revealed for 217 West 57th Street, the Will-Be Tallest Residential Building in the World

It's been relatively quiet on the Nordstrom Tower front since we saw some skyline renderings in September. But now YIMBY has uncovered the official renderings for Extell's 217 West 57th Street, the 92-story, 1,775-foot supertall that will take the title of tallest residential building in the world when completed, surpassing Mumbai’s World One Tower by 29 feet. The images continue to show how the tower will dominate the skyline, but they also give us a detailed look at the façade and a peek into one of the penthouses.
See all the renderings here

March 17, 2015

Slab of Plexiglass Dislodges at One57 and Falls on Two Cars Below

Watch where you walk when treading near supertall towers. The WSJ reports that a stop work order has been issued at One57 after a kitchen table-sized piece of Plexiglass fell from the 22nd floor of the tower on Sunday, smashing into two parked cars down below. Thankfully no one was injured in the incident, but the accident is just one in a slew of construction mishaps that have plagued the building. In late February, glass from the tower landed on a neighboring building’s terrace, and last May, a windowpane fell from the 22nd floor, hitting a truck below. The building was also creating precarious conditions back in 2012 during Super Storm Sandy, when all of New York City looked on in horror as the support cable of an 80-ton crane at the top of the building broke, causing it dangle above their heads.
Is one57 cursed? Find out more here

March 13, 2015

New Renderings for 212 Fifth Avenue Show a Whimsical Top-Floor Restaurant and Enormous Clock

With the debut of their newly-sharpened website, the visual-realization whizzes at AJSNY are seeking to steal some Apple Watch buzz with this stunningly whimsical rooftop addition atop the now-under-conversion 212 Fifth Avenue in Nomad. The conceptual vision, designed by the rendering team themselves, shows a bronze-clad, multi-story addition wrapped with sinuous ribbons framing an enormous south-facing clock. Below the steampunk-esque penthouse, AJSNY depicts a standard condo-conversion affair of open layouts and double-height spaces for the 1913 neo-medieval tower. The team's images also give us an idea of what the official owners–Madison Equities, Thor Equities, and Building and Land Technology–have in mind for this quintessential Manhattan address. The scheme is not official or approved, but it certainly is creative.
More details on the proposed design ahead

March 12, 2015

Extell’s Massive 71-Story LES Tower Will Dwarf the Manhattan Bridge

Here's your first look at Extell's new tower popping up just north of the Manhattan Bridge along the East River waterfront. Spotted by Bowery Boogie on the construction sign at the 250 South Street site, the somewhat vague rendering is short on design details but manages to show a behemoth ready to dominate the area.
READ MORE

New Developments

February 18, 2015

Extell’s UWS ‘Poor Door’ Building Now Taking Affordable Housing Applications

Easily 2014's most controversial building, Extell's 40 Riverside Boulevard—a.k.a. the "Poor Door" building, and recently rechristened 50 Riverside Boulevard in light of the scandal—is back in the news, this time for reasons far less unsavory. Starting today, qualified New Yorkers can apply for one of the building's 55 subsidized rentals.
Find out how much units are going for

January 12, 2015

Construction Update: One Manhattan Square, Extell’s Mega-Rental Complex in Two Bridges