NEW YORK | 871 7th Ave (Wellington Hotel) | 1,050 FT | 71 FLOORS

[NYguy]

Hard to keep up with Extell. I have no idea what this is for…


https://www.pincusco.com/extell-signs-36...rch-air-rights-unclear-for-what-project/

Extell signs $36M contract for Midtown West church air rights, unclear for what project





November 14, 2025

[NYguy]

https://www.crainsnewyork.com/real-estat...y-air-rights-st-thomas-church-36-million

Extell poised to snap up $36 million in air rights from historic Midtown church


C. J. Hughes
November 14, 2025

Extell continues to consume Midtown.

Following a flurry of recent deals to piece together mammoth development sites in the neighborhood, the Gary Barnett-led luxury firm is in contract to buy 123,000 square feet of air rights over St. Thomas church for $36 million, according to a new court filing.

The planned acquisition at the landmark Episcopalian structure at 678 Fifth Ave., at West 53rd Street, was disclosed Thursday in a petition filed in Manhattan state Supreme Court, where St. Thomas officials asked a judge to approve the deal. Churches, as non-profits, must receive approval from courts before unloading any real estate.

The contract, which Extell inked in August, does not specify where or how the developer will use the air rights. Air rights are typically transferred between adjacent properties; however, Extell does not appear to control either of the sites adjacent to the church.

One, the mixed-use tower 680 Fifth, is owned by landlord Josef Buchmann, while the other belongs to the Museum of Modern Art, based on news clips and the city register.

Much of Midtown is part of a special zoning district established in 2017 that allows landmark sites to sell air rights to nearby, though non-contiguous, properties. However, the church appears to sit just outside the zone’s boundaries.

That said, Barnett’s firm is juggling several projects nearby, including some that seem to get bigger by the day as lots are merged and neighborhood improvement credits are awarded. Indeed, Extell’s planned mixed-use site at 655 Madison Ave., at East 60th Street, was once supposed to rise to 37 stories, but the developer hopes to increase its height to 74 stories.

Similarly, the developer was planning a 27-story mixed-use tower for the former Wellington Hotel at 871 Seventh Ave., at West 55th Street. Now it seeks to construct a 71-story building through a bonus awarded for subway station upgrades.

The Gothic Revival-style church with limestone walls, was completed in 1914. Church leaders plan to use the proceeds to conserve its building and sustain its parish “without selling or altering any part of the historic church property,” the filing says. The 31,000-square-foot structure was made entirely of stone and without any steel reinforcements in accordance with medieval construction techniques, the filing explains.

[Crawford]

Since the air rights can only be used for nearby properties, I guess there's an as-yet unpublicized Extell project.

There are lowrise buildings directly across Fifth Ave., and they appear to be emptying out. It looks like a potential assemblage. I wonder if Extell is buying up properties on that block.

[ajbeaver25]

Another billionaires row tower?

[NYguy]

Been doing some digging. Looks like the last time they sold air rights was for 53W53. I don't know what Extell's cooking, but let them cook.

[ChiND]

I think I recall that air rights from religious buildings be transferred over a pretty broad area.

[ChiND]

I’ve wondered about these eternally empty buildings for a long time. As I recall from ACRIS, all three are owned by a Chinese company. I wonder why they rented the one to Microsoft and let the other two sit empty.

[NYguy]

City of Yes changed the rules on air rights transfers, increasing the borders of where they can go (outside of special districts). It's still not enough to reach the Wellington site, but you can see here how it expands the options...







There is a limited amount of sites where likely demo would take place for a new development...















However, there is one very close development in the works. It's possible that Extell may be taking over that development (3 E. 54th). However, that site is within the Midtown East rezoning district...

https://skyscraperpage.com/forum/showthread.php?t=258955

[ChiND]

Thanks. It would be very nice if Extell redevelops those little buildings across from the church. 3 E 54th and the adjacent garage also can’t be redeveloped soon enough. They’re eyesores in an ultra prime area.

[NYguy]

That site is surrounded by landmarks, but it's just one possible location for the transfer...

[NYguy]

The breakdown of the Wellington development confirms the air rights won't be going to that site...

[The New York Lion]

G-Man is the best developer on the planet.

The world's most iconic and most expensive city in which to build:

740 8th Avenue- 1,029'
The Wellington- 1,050'
655 Madison- 1,162'
ABC redev- 1,200'

At the same time.

This is on top of his success at CPT and One57.

Unprecedented.

[NYguy]

Barnett is the Skyscraper King of New York.

[chris08876]

If the appetite for development is as strong as it is... Bloomberg boom 2.0?

Lot of NY nodes are just springing along at the moment. Added to everything going on and planned West of the Hudson... boom time!

Just have to get Hudson Yards Phase II rolling. A big one that we sometimes forget lol. And the whole Empire district.

[ChiND]

Originally Posted by chris08876

If the appetite for development is as strong as it is... Bloomberg boom 2.0?

Lot of NY nodes are just springing along at the moment. Added to everything going on and planned West of the Hudson... boom time!

Just have to get Hudson Yards Phase II rolling. A big one that we sometimes forget lol. And the whole Empire district.

[Hudson11]

Gary also made his mark in Brooklyn and the Lower East Side. Looks like its his era in NYC highrise development.

[mrnyc]

gb took 15yrs to gather up the property & air rights for one57, so patience is in order.

[NYguy]

Originally Posted by Hudson11

Gary also made his mark in Brooklyn and the Lower East Side. Looks like its his era in NYC highrise development.

He's reportedly taking over Worldwide Plaza, which is surprising. But not out of the realm of the Skyscraper King of New York.

As far as the Wellington Tower goes, drawings have it at about 1,051 ft at it's highest point. But the zoning envelope reaches just above 1,127 ft. It's more likely to be the current height, unless Extell scoops up even more air rights for this project. Be with so much going on, he doesn't need it here. BTW, I don't know how many people remember the Park Lane proposal (just across the street), but I wouldn't be shocked to see Gary Barnett eventually get his hands on that, ultimately building a tower there. It would tower over this one.

[ChiND]

I hope that Extell’s newly acquired air rights will be used on this three building site.

Yeung Chi Shing Holding, Kingsville sign $38.6M refi for Midtown East Fifth Ave retail

https://www.pincusco.com/yeung-chi-shing...-refi-for-midtown-east-fifth-ave-retail/

[NYguy]

NOVEMBER 21, 2025