NEW YORK | 530-540 Sixth Ave | FT | FLOORS


#1

Extell’s site on 14th and 6th.

Extell May Be Eyeing 14th Street For Another Development
8
BY AMY PLITT @PLITTER FEB 2, 2016, 3:30P

REC

Screenshot via Google Maps
Condo-developing juggernaut Extell just can’t—or won’t—be stopped: Crain’s reports that Gary Barnett is looking at another parcel of land at 530 Sixth Avenue, best-known as the home of Moscot’s eyeglass emporium. The current owner, the Duell family, is apparently looking to sell (for an undisclosed price), and Extell—the prolific firm behind such behemoths as Central Park Tower and One Manhattan Square—may be looking to buy.

The 14th Street site is about 17,000 square feet, but may have as much of 127,000 square feet of residential air rights available for development. And per The Real Deal, this isn’t the first time that Extell has purchased property from Duell: The developer snapped up three other sites on Seventh Avenue, West 17th Street, and Third Avenue from the family in the past few years.


#2

is pockets are deep after the 2 billion profit he made on One57

I also think he is in it for the legacy aspect. Which is why he tends to not sell himself short on his buildings.


#3

He has some decent square footage, but I don’t think he can go too tall on 14th St. That would encounter serious ire, and I think, rightfully so.


#4

Here’s the site. It’s located at the NE corner of 14th St and 6th Ave.


#5

Barnett does not seem to mind the ire. Look at his 2 bridges development. Locals hate that one with a passion and have been crying about it for years now. Its still rising.


#6

That’s true. Personally, I would not want a 500 foot tower looming over the West Village. Personally, I prefer not to have tall buildings between Wall St and 23rd St.


#7

Barnett is the market leader too. He does this you can bet a few other devs will try and get to be a part of the action.

I see Barnett as the leader, but then devs like JDS come in behind, copy him but do a better job and are more elaborate.

That is what happened with Billionaires row. It started with Barnett and One57, then we got 432 Park, Steinway, and 220 CP and 425 which are all IMO better towers. Same thing with 2 bridges, Barnett started it with One Manhattan Square, and now JDS is in there with a bigger and better proposal.

He pulls this off, I see the same happening.


#8

Thats an interesting analysis. In any case, competition is good! Skyscraper wars are always welcomed. Hell, we need more of them with respect to the tallest category.


#9

Mr. Barnett: “Tear down that wall [of dilapidated buildings]!”


#10

Gary has sold.

REW: Extell sells Sixth Avenue properties for $52M, buyers plan luxury housing

Extell Development Company has sold a cluster of buildings near the corner of 14th Street and Sixth Avenue to a joint venture that plans to build high-end apartments on the site.

California-based Landsea Homes Incorporated and DNA Development, a New York real estate developer and investment firm, purchased four buildings from 530 to 540 Avenue of the Americas from Extell for $52.75 million, according to the New York City Finance Department’s online database.

The joint venture announced Monday that it has secured $97 million in senior and mezzanine loans from the Mack Real Estate Group to acquire the properties and redevelop them into luxury residences, although it has not said whether they will be condos or rentals.