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[NYguy]

https://therealdeal.com/new-york/2026/01/31/gary-barnett-making-monster-moves-in-midtown-manhattan/

Gary Barnett is making moves in Midtown


Jan 30, 2026
By Holden Walter-Warner

Gary Barnett is having a moment in Midtown, and it’s not just about new construction.

Within days, the Extell Development founder popped up on two very different fronts: quietly locking up one of the most consequential development assemblages on Park Avenue and winning a court ruling that clears the way for him to potentially take control of a deeply distressed office tower owned by rivals SL Green and RXR.

Together, the moves underscore Barnett’s playbook in a market still working through pain: lean into prime locations, exploit dislocation and don’t shy away from conflict.

On the growth side, Barnett is in contract to buy 405-415 Park Avenue, air rights from Central Synagogue and is negotiating for the adjacent office building at 110 East 55th Street, according to people familiar with the deal.

Sellers were shopping the pieces for north of $500 million, The Promote first reported, and the combined site could support roughly 700,000 square feet with additional air rights. The assemblage sits just steps from JPMorgan Chase’s new 270 Park headquarters and near Citadel and Vornado’s planned 350 Park tower, placing it squarely in the corridor where trophy office capital is concentrated.

At the same time, Barnett is pressing his advantage on the other end of the market. A state Supreme Court judge this week denied SL Green and RXR’s attempt to block a UCC foreclosure auction tied to Worldwide Plaza, clearing the way for Extell to move forward after quietly acquiring the senior mezzanine debt.

…. Taken together, the Park Avenue assemblage and the Worldwide Plaza fight show Barnett operating on two tracks at once — assembling blue-chip dirt for the next cycle while using debt to pry opportunities out of this one.