Extell buying former Carnegie Deli site

Posted On Tue, January 31, 2017 By

Posted On Tue, January 31, 2017 By In Midtown, Recent Sales

Yesterday, workers removed the iconic neon sign outside Carnegie Deli, but the final nail in the coffin comes from the news that mega-developer Extell is buying the pastrami mecca’s former home on a block where they already own two other sites. The Post got word that Gary Barnett’s firm will close on a deal as soon as today for the six-story building at 854 Seventh Avenue. The 79-year-old deli closed on December 31st, but in 2015, Extell paid $9.1 million to owner Marian Harper Levine for their air rights.

Only a few rent-controlled tenants remain in the building, though it’s unclear what, if anything, Extell will do with the site. They’re currently planning a 60-story hotel-condo on the block at 1710 Broadway. Their other site is the assemblage at 842-846 Seventh Avenue; a 29-story residential building was originally planned, but it’s currently on hold. It’s unlikely that the developer will build anything as large as their nearby Billionaires’ Row towers — the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower — considering they don’t own the two adjacent properties. In fact, one theory is that Barnett bought the Carnegie Deli site so another developer can’t put up a tower blocking the views at 1710 Broadway. Other sources tell the Post that Extell bought the building simply because they could: “He grabbed the Carnegie building just because it’s there. The price is peanuts for Extell, although it’s probably worth a fortune to Levine.”

[Via NYP]

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