Extell Buys Diamond District Building for $15.4M


25 West 47th Street.
25 West 47th Street.

Gary Barnett‘s Extell Development has bought 25 West 47th Street for $15.4 million from Toback Realty LLC, property records indicate. The building is a two-story retail and office property between Fifth Avenue and Avenue of the Americas.

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The deal closed May 29 and appears in property records today.

A person who works at jewelry equipment supplier Myron Toback, which is located in the building, said there was no relation between her firm and the building owner and hung up.

The 4,477-square-foot two-story retail and office property was built in 1938, according to CoStar. The Toback clan bought the property in 1980.

Extell already owns property on the block, namely the International Gem Tower at 50 West 47th Street, and 2 West 47th Street. And, Extell used to own an office building that was formerly part of the Frank Ring portfolio at 20 West 47th Street. Mr. Barnett didn’t immediately respond to a request for comment.