Posted Sep 6, 2025, 12:34 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,199
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https://www.bisnow.com/new-york/news...rojects-130828
Extell Lands $1.2B In Equity From Hedge Fund For 9 Projects — Including 1.8M SF Disney Redevelopment
September 05, 2025
Sasha Jones
Quote:
655 Madison Ave.
Since acquiring 655 Madison Ave. for $160M a year ago, Extell has been charging ahead with the construction of a mixed-use tower.
Originally, a 37-story building was pitched for the site. In July, that proposal was supersized to a 765K SF, 74-story skyscraper with 154 condos, 163K SF of office and 70K SF of retail, according to documents filed with the Department of City Planning.
That’s only if Barnett receives the proper zoning approval. As of right, the developer can build an 84-story supertall with a total of approximately 600K SF.
Extell has reached a sales agreement with a fashion and cosmetics company for the commercial space in the planned tower, according to the TASE filings, which appear to confirm reports that Chanel is in talks to buy the retail space for around $450M.
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