NEW YORK | 530 Sixth Avenue | FT | FLOORS (127k sqft)

[chris08876]

Look like a potential development. Barnett is involved or at least looking into it!

Either way, Extell or not, something will rise here.

Looks like filler territory based on the sq footage potential. I'd say 500 feet or so.


======================

The Duell family is back in the market, selling off pieces of its once-large New York City portfolio of commercial and multifamily property.

The family is arranging to sell 530 Sixth Ave., a 17,000-square-foot commercial building on the corner of West 14th Street best known for the Moscot Eyewear store on the building’s second floor, to Gary Barnett, according to a person familiar with the property. Barnett is building a residential spire at 225 W. 57th St. and scooped up the former Pathmark site at 125th Street and Lexington Avenue from Harlem’s Abyssinian Development Corp.

No price has yet been published for the Sixth Avenue deal. City records show that 126,750 square feet of residential space can be built on the site—likely a big draw for a busy residential builder like Barnett.

The Duells sold an apartment building at 200 E. 34th St. in December for $11 million, to a company whose sole owner is Dov Hertz, executive vice president for acquisitions at Barnett’s Extell Development. The building is known for the Cinema Cafe & Bar restaurant in its base.

Barnett also purchased 27 Washington Square North, a seven-story apartment building on the corner of Macdougal Street, according to a person familiar with the transaction. City records list the sale price in that deal as $20 million. The purchaser is a limited-liability company offering few clues to its ownership.

Other recent sales by the Duells include a five-story retail and office building at 712 Madison Ave., sold to the Jackson Group for $83 million in December, and a small Upper East Side rental apartment building, 957 Park Ave., to real estate investor Stanley Wasserman for $16 million.

Barnett has been successful at clawing property away from longtime owners. In 2013, he bought a stake in a 14-building package of office properties owned by brothers Michael and Frank Ring, eventually buying the pair out of the buildings.

==================
1) http://www.crainsnewyork.com/article...TATE/160209983
2) http://therealdeal.com/2016/02/02/ex...th-ave-report/