Extell Renews Its 23K-SF HQ Along Third Avenue
By Terence Cullen August 3, 2016 2:56 pm
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Gary Barnett and his Extell Development Company might build some of the tallest, glitziest residential buildings in New York City, but he’s a mere tenant when it comes to his own offices.
Commercial Observer has learned that Extell has renewed its full-floor lease at Charles S. Cohen’s 805 Third Avenue between East 49th and East 50th Streets. The development firm will remain in its 23,500-square-foot, seventh-floor headquarters for another 10 years.
Asking rent in the renewal was $65 per square foot, according to a press release from the landlord.
“We’re delighted that one of the giants of the real estate community, a firm that continues to bring spectacular new additions to the New York skyline, will be calling 805 Third Avenue its home for another decade,” Cohen said in prepared remarks.
Marc Horowitz, the head of leasing for Cohen Brothers Realty, represented the landlord. It wasn’t immediately clear if Extell had a broker. The company did not immediately return a request for comment via a spokeswoman.
The development company, responsible for the completed One57 and under-construction Central Park Tower, is not the only big-name tenant at the building. Yankees Entertainment and Sports Network, or YES, the cable television channel that broadcasts New York Yankees games, leases 23,844 square feet at the structure, according to CoStar Group.
Central Park Tower, located at 225 West 57th Street between Seventh Avenue and Broadway, will be the tallest residential building in the Western Hemisphere, and is slated for completion in 2019. Department store Nordstrom will occupy the base of the building with its first location within the five boroughs.
