NEW YORK | 655 Madison Ave | 1,162 FT | 74 FLOORS

[SkyHigher]

Originally Posted by ChiND

I walked by here yesterday. Scaffolding is going up.

No pictures?!!

[ChiND]

Originally Posted by SkyHigher

No pictures?!!

I can’t upload photos from my phone onto this site.

[ChiND]

The same architects designed this new tower on Third. Hopefully, 655 will turn out decently.

https://200e75.com/team/



Unfortunately though, this diagram suggests that we will get a glass box with an odd top.

[NYguy]

March 1, 2025

[NYguy]

https://www.crainsnewyork.com/real-e...th-street-site

Extell moves to tear down Lenox Hill site


EDDIE SMALL
March 6, 2025

Extell Development may have bigger ideas in mind for its 37-story project at 655 Madison Ave.

The Gary Barnett-led real estate firm has filed plans to demolish a quartet of addresses right around the corner from the Lenox Hill property it purchased for roughly $160 million in October: 33, 35, 37 and 39 E. 60th St. The properties each stand 5 stories and 75 feet tall and span about 28,000 square feet overall, according to city records.

Extell does not appear to own the sites yet despite filing to tear them down. Solil Management, a real estate arm of the Goldman family, is still listed as the owner in city property records. Representatives for Extell and Solil did not respond by press time to questions about whether Extell intends to buy the sites from Solil, and Extell's plans for them are unclear.

Based on their location, however, it seems likely that Extell's work would be related to its project at nearby 655 Madison Ave. The prolific developer filed plans late last year for a development at the site that would span about 193,000 square feet with 62 residential units and hotel, retail and office space on the first six floors. The demolition permits for East 60th Street could indicate that Extell hopes to expand on this.

Looks like this will be part of the site afterall.

[Crawford]

Interesting. So the initial permits were just placeholders, which is typical for Extell.

I wonder about the real plans. Now that they're buying up the rest of the block, Barnett will have secured a massive increase in air rights. I wonder how high this will go.

[NYguy]

Originally Posted by Crawford

Interesting. So the initial permits were just placeholders, which is typical for Extell.

I wonder about the real plans. Now that they're buying up the rest of the block, Barnett will have secured a massive increase in air rights. I wonder how high this will go.

Very typical of Extell, but could also just be a speck of fortune and good luck. I suspect they have been trying to get those properties, but showed they were willing to move forward without them.

[ChiND]

This is AMAZING news for two reasons. First, we finally get rid of that hideous garbage. Second, perhaps a taller and more interesting tower will rise here. The DOB schematic did not look promising.

[NYguy]

According to tax property records, the assemblage would allow the site to go from 10,000 sf to 22,000 sf. Obviously, that would allow for a larger (and taller) tower.



With the additional properties...







Compared to Related's 625 Madison Avenue...







Gearing up perhaps to go face to face with Related. Any tower doesn't have to be as high as Related plans with 625 Madison...

[NYguy]

https://www.ourtownny.com/home/2-loc...h-st-KD4306095

2 Local Restaurants May Disappear As Developer Plans to Demolish 4 Buildings on 60th St.





JACK AHERN
07 MAR 2025

Two neighborhood restaurants, Philipe Chow and Il Mulino, could be facing the wrecking ball after a real estate developer filed plans to demolish their E. 60th St. lots.

Extell Development Company had already been planning to erect a new 37-story tower just next door at 655 Madison Ave., which is currently an out-of-use office building that they’ll also need to demolish first. Extell bought the lot for $160 million last October; its then-owner, Williams Equities, had already slated it for demolition just months before the sale.

Yet according to Department of Buildings filings first reported by Crain’s New York Business, they now plan on demolishing four adjoining properties that happen to contain the popular restuarants

One, 33 E. 60th St., contains the high-end Chinese restaurant Philipe Chow. Another, 35 E. 60th St., is a strictly residential building that reportedly has no occupants. The third, 37 E. 60th St., contains the Italian restaurant Il Mulino. The final address, 39 E. 60th St., is a mixed-use building that used to house a deli. The addresses that contain the restaurants currently have no residents living on their upper floors.

Our Town visited Philipe Chow on Thursday, Mar. 6, and was told by staff that they had “no comment” on a pending demolition. A manager at Il Mulino, meanwhile, confirmed that the news had reached their staff: “Our new thing is that the secret is out.”

He further hinted that Il Mulino intended to stay in the neighborhood if the demolitions are approved by the city, saying that they would “definitely be moving close” to the current location. People had begun to speculate that something was up, the manager added, when the last remaining residents living in the conjoining buildings began to move out.

According to property records first reviewed by Crain’s, the four new addresses slated for demolition are still listed under the ownership of Solil Management, a subsidiary of the real estate empire founded by the late Sol Goldman. However, the demolition permit filings with the DOB that were reviewed by Our Town list Extell as the owner, suggesting that there could be a lag in updating city property records.

[ChiND]

This is great news. I'm also glad that Il Mulino is relocating. That's a fabulous restaurant.

There's a lawsuit between Goldman's heirs. I hope that its resolution leads to the sale of many of its properties. They own much of the dilapidated garbage in prime areas of Manhattan.

[ChiND]

I walked by the Subway Inn site recently and thought what a world of difference one block makes in NY. If Extell builds an 800’+ Stern, it will probably sell quickly at $5k+/sf, whereas the Subway Inn site, which is about a thousand feet to the east on E 60th St., will probably sit as an empty lot for years.

Also, the western views from 520 Park proved to be ephemeral.

[NYguy]

https://therealdeal.com/new-york/202...il-management/

Extell pays $103M for properties next to planned Madison Avenue resi tower
Gary Barnett picks up three buildings from Sol Goldman’s Solil Management


By Elizabeth Cryan
Research by Matthew Elo
March 12, 2025

Gary Barnett’s Extell Development snapped up three buildings next to his planned Madison Avenue residential tower.

Extell bought 35, 37 and 39 East 60th Street from Sol Goldman’s Solil Management for $103 million, property records show. The assemblage is next to the 200,000-square-foot office building that Extell is planning to demolish to make way for a 62-unit residential tower and commercial space.

Extell had already filed plans to demolish the properties, Crain’s reported. An Extell spokesperson did not immediately respond to a request for comment on the sale.

Extell purchased the adjacent property between East 60th and East 61st streets in October for nearly $160 million from Williams Equities.

So far, that’s $263 million for the site.

[ChiND]

How tall do you think that this tower can be with the extra square footage. I hope that Extell and Related go with a classic Stern style on these sites.

[Crawford]

I would love to see a traditionally-designed 900-ft.+ tower. Doesn't have to be Stern, but it would be nice. That would mean two Stern towers on the same block.

[ChiND]

I'd be happy with two traditional towers. They could complement each other like The Sherry Netherland and The Pierre.

[NYguy]

Originally Posted by ChiND

How tall do you think that this tower can be with the extra square footage. I hope that Extell and Related go with a classic Stern style on these sites.

Originally Posted by Crawford

I would love to see a traditionally-designed 900-ft.+ tower. Doesn't have to be Stern, but it would be nice. That would mean two Stern towers on the same block.

Any new tower here should be at least as high as 520 Park Avenue, which it will now border. 520 is not a particularly large tower, with about 178,000 zoned sf.

[ChiND]

520 Park is incredible. Stern never fails.

[NYguy]

The buildings added to Extell's assemblage directly border 520 Park Avenue, on a well blended block. It will be interesting to see how Extell establishes a new building in this space.

[NYguy]

This is coming together quickly...


https://commercialobserver.com/2025/...adison-avenue/

Chanel in Talks to Buy Retail Space at Extell’s 655 Madison for Around $450M


By Lois Weiss
March 20, 2025

Luxury fashion brand Chanel may join the likes of Kering and Prada in owning their own piece of New York City real estate.

Chanel is negotiating to buy the retail space at Gary Barnett’s proposed tower at 655 Madison Avenue, providing him with an anchor tenant that could help get the tower financed, Commercial Observer has learned.

Multiple sources told CO that Chanel may pay in the mid-$400 million for around 65,000 square feet of retail space in the base of the future luxury condominium project that Extell plans to build on the northeast corner of East 60th Street and Madison Avenue.

At $450 million, the transaction would equal a blended $7,000 per square foot. The deal would involve space on both higher floors and below street level. Until signed and sealed, the deal isn’t done, sources said.

Chanel had been negotiating to purchase multiple floors across the street in the Barneys building at 660 Madison Avenue at around $600 million, but sources said those talks broke down last year over a brokerage fee.