Gary Barnett

Can Extell make Central Park Tower the most expensive condo in U.S. history?

Rendering courtesy of Wordsearch

January 18, 2019

Can Extell make Central Park Tower the most expensive condo in U.S. history?

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"Some people wonder if Mr. Barnett will become a victim of the condo explosion he helped create," wrote the Wall Street Journal today in a rare expose of Extell's Gary Barnett, referring to the success he had with One57, considered the catalyst for the supertall, ultra-luxury condo boom, and the more challenging climate he's facing with the Central Park Tower. The latter, which will be the world's tallest residential building at 1,550 feet, launched sales in October, but in a soft luxury market, it's not a sure bet that the mega-developer will be able to achieve his projected $4 billion sellout and the title of the nation's most expensive condominium ever. In a likely noncoincidental move timed with the Journal story, Extell today launched the tower's new website (h/t Curbed), and it gives us mere mortals some of the first views inside the billionaire bunker.
See inside and hear from Barnett himself
Extell’s proposal for the Upper West Side’s tallest tower faces backlash from the community
December 11, 2017

Extell’s proposal for the Upper West Side’s tallest tower faces backlash from the community

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Architecture firm Snøhetta revealed last month their design for a 775-foot condominium tower at 50 West 66th Street, slated to be the tallest building on the Upper West Side. Developed by Extell, the condo will rise 69 stories and contain 127 units, featuring series of “sculptural excavations” that are “evocative of the chiseled stone of Manhattan’s geologic legacy,” according to the architects. As the New York Times reported, critics of the project from the UWS community say the tower would violate zoning restrictions in the area. Local advocate groups, joined by Council Member Helen Rosenthal and Manhattan Borough President Gale Brewer, are pushing back against the construction of Extell's ultra-luxury tower. In a statement, Rosenthal said, "We will fight this project with every tool at our disposal."
Find out more
City says under-construction 421-a buildings must include housing for the homeless

555Ten, an Extell building that would be affected by the 421-a changes

November 7, 2016

City says under-construction 421-a buildings must include housing for the homeless

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As 6sqft reported last week, Governor Cuomo, developers, and unions have been engaging in closed-door talks to bring forth his revision of the city's 421-a program that includes wage subsidies and an extension of the previous 25-year tax break up to 45 years. Glaringly (but not surprisingly) absent from the negotiations is Mayor de Blasio, but he's now taking matters into his own hands, at least when it comes to those under-construction buildings that got in to the program before it expired in January. According to the Times, the de Blasio administration introduced a new policy that says these projects must include housing for some of the 60,000 New Yorkers currently living in homeless shelters, but developers, particularly Extell's Gary Barnett, are not happy about the changes.
Find out more
Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?
July 12, 2016

Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?

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Gary Barnett's Extell Development has become synonymous with sky-high towers, especially those along Billionaires' Row -- the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower -- where it appeared that they were readying to construct a third behemoth that would rise more than 700 feet. However, Crain's reports that Extell has filed plans for the site at 134 West 58th Street (the same block as One57), and they call for a stubby, 18-story, 41-unit condo building that's less than 200 feet tall.
What's the deal?
Extell Files to Demolish Two More Fifth Avenue Buildings For Its Mega-Midtown Assemblage
May 3, 2016

Extell Files to Demolish Two More Fifth Avenue Buildings For Its Mega-Midtown Assemblage

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Back in January, 6sqft reported that the busybodies at Extell Development filed permits to demolish a string of six tumble-turned walk-up buildings between 3 and 13 West 46th Street in Midtown. Now, as expected, the Gary Barnett-led firm has filed permits to demolish the Warren & Wetmore-designed corner building at 562 Fifth Avenue and a somewhat incongruous Tudor-style building at 564 Fifth Avenue. While none of the condemned buildings are extraordinary in design, 562 Fifth Avenue is perhaps a more tasteful affair than much of the schlock going up these days. Designed by the same architects as Grand Central Terminal, the slivery 13-story commercial building was once known as the I. Miller Building and features intricately ornamented spandrel areas, a pedimented roofline, and an unoriginal albeit charming Fifth Avenue storefront.
More on Extell's plans and the history of the soon-to-be-razed buildings
Extell’s 831-Foot-Tall One Manhattan Square Begins Its Climb Above Chinatown
February 4, 2016

Extell’s 831-Foot-Tall One Manhattan Square Begins Its Climb Above Chinatown

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Still in disbelief that a 68-story building (though it's being marketed as 80 stories) could rise at the edge of Chinatown? Well behold One Manhattan Square's construction site, buzzing with activity and flagged by a stalwart kangaroo crane foreshadowing the 850-foot-tall tower to come. Unlike the Chinese investment market, Extell's skyscraper is heading in one direction -- up. And after more than a year of site preparation and foundation work, the first pieces of re-bar have emerged from their mucky surrounds and are peaking above the lot's blue construction fences.
Get a look
Extell Files Permits to Demolish Six Midtown Buildings for a New Mega Development

A Google street view of the six buildings set to be razed

January 14, 2016

Extell Files Permits to Demolish Six Midtown Buildings for a New Mega Development

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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
Seven Floors of One57 Hit the Market for $250 Million
November 9, 2015

Seven Floors of One57 Hit the Market for $250 Million

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It may not be the penultimate $100 million penthouse, but an investor with enough dough can still make headlines buying into the city's most expensive condo tower. According to the Journal, Extell is selling a block of 38 rentals in its blockbuster One57 for $250 million. The paper writes that unloading the units will bring the developer $3,800 a square foot, or an average of more than $6.5 million per apartment—more than double the $1,800 average of Manhattan condos sold during the third quarter.
FInd out more
First Full Look at Extell’s 80-Story One Manhattan Square, 800 Condos Aimed at Asian Buyers
October 15, 2015

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

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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
The Final Design of Extell’s Nordstrom Tower Still Undecided
August 18, 2015

The Final Design of Extell’s Nordstrom Tower Still Undecided

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Back in May it was reported that the official rendering for Extell's Nordstrom Tower—a.k.a. Central Park Tower, a.k.a. NYC and the country's future tallest tower (by roof height)—had finally been released by the developer, showing a glassy construction rising 1,523 feet from its 217 West 57th Street address. But now comes news from The Post's Steve Cuozzo that the tower's final design is actually "still up in the air."
Find out more here
Extell’s Nordstrom Tower Will Be the Country’s Tallest by Roof Height
June 16, 2015

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

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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 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

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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

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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

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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

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

Image © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

March 17, 2015

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

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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
So You Think You Know Everything About One57?
December 22, 2014

So You Think You Know Everything About One57?

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Well, you might want to think twice. Even though the city's most expensive condo building is also perhaps the most written-about (even the Times has run out of ways to describe it), there are still plenty of little-known facts about the 1,005-foot-tall tower. One57 is considered the crown jewel of what's been dubbed "Billionaire's Row," and can also be credited with launching the ultra-luxury building boom. Developed by Extell's Gary Barnett and designed by Pritzker-winning architect Christian de Portzamparc, the sleek tower is currently the second tallest structure in the city. And that's just the beginning.
Bone up on your One57 factoids here
Real Estate Wire: Real-Life Owners of Sex and the City House Are Ticked; Richard Meier Penthouse Now $40M
October 21, 2014

Real Estate Wire: Real-Life Owners of Sex and the City House Are Ticked; Richard Meier Penthouse Now $40M

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Extell’s Gary Barnet shares how he scored the F.M. Ring’s prized Midtown South portfolio. Highlights include how he outmaneuvered the hostile sellers and competing offers. [TRD] The price tag on this Richard Meier penthouse has been upped to $40M from $35M. [Curbed] Sarah Jessica Parker has riled the owners of Carrie Bradshaw’s West Village townhouse […]

Real Estate Wire: The Helmsley Building Could Hit the Market for $1.5B; Carnegie Park Going Co-Op
September 3, 2014

Real Estate Wire: The Helmsley Building Could Hit the Market for $1.5B; Carnegie Park Going Co-Op

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The Commercial Observer interviews Gary Barnett of Extell. The developer discusses everything from his aggressive development stance to the “poor door” controversy that’s gotten everyone all riled up. [CO] An epic tale of murder at 31 Bond Street—the site of new condos coming to the NoHo market. [NYT] The “Gossip Girl Penthouse” at 1136 Fifth Avenue sold […]

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