Extell Gives Art Students League a Deadline: Approve Cantilever by Wednesday or Lose $31.8 M. Deal

By February 12, 2014 10:25 am
reprints

Extell’s controversial plan to cantilever a 1,424-foot skyscraper at 217 West 57th Street over the Art Students League, which won city approval last fall, will be abandoned if the League’s members reject the deal at a vote tonight, according to the developer. Extell has promised to walk away from the deal, which would net the League $31.8 million, and move forward without the cantilever, if the League does not reach an agreement by Wednesday night.
Read More

SEE ALSO: Banco Inbursa Lends $220M on Gary Barnett’s Planned Manhattan Hotel

215 West 57th Street, 217 West 57th Street, air rights, community board 5, developments, Gary Barnett, infrastructure, landmarks, One57, Student Arts League, Extell Development Company
Construction of a warehouse facility in the Inland Empire.
Sales  ·  Industrial
Inland Empire

Planned Logistics Facility Sells for $99M in Southern California

By Greg Cornfield
Logo on interior door of coworking space Industrious.
Leases  ·  Office
Los Angeles

Industrious Adds More Coworking Space in LA’s Century City

By Greg Cornfield
Michael Cohen, CEO and founder of Brighton Capital Advisors, at Commercial Observer's Dallas CRE Investment Forum on April 18, 2024.
Finance  ·  CMBS
National

Michael Cohen’s Brighton Capital Ushers CRE Borrowers Through Loan Servicing Era

By Greg Cornfield