Gary Barnett and Andrew Chung

Building Manhattan megaprojects seems to be in Gary Barnett’s blood.

The founder of Extell Development has planted so many new projects in the borough — see his $1 billion, 600-foot-tall office building at 570 Fifth Avenue or his 1,200-foot residential tower at the former ABC campus at 77 West 66th Street, for example — that he even needed to recruit a co-CEO for the firm.

Extell announced in March 2026 that Innovo Property Group founder Andrew Chung had left his real estate investment firm to help lead Extell. Chung specializes in large-scale development, institutional investment and complex capital structures, making him the perfect partner in crime for the constantly deal-making Barnett.

In addition to Extell’s 570 Fifth Avenue office development — which will have an 80,000-square-foot Ikea store at its base — and 77 West 66th Street resi tower — which would dwarf the tallest buildings on the Upper West Side — the developer is also working on a 70-story condominium project at 50 West 66th Street, a 71-story mixed-use tower at the former Wellington Hotel at 871 Seventh Avenue, and a 1,162-foot-tall residential skyscraper at 655 Madison Avenue (where Chanel is eyeing a $450 million acquisition of the retail portion).

Barnett also recently paid $40 million to private social club Metropolitan Club to transfer 135,146 square feet of air rights from 1 East 60th Street to the 655 Madison Avenue project, which secured a $1.13 billion loan from Tyko Capital in 2025’s biggest New York City construction loan.

Extell also took over 123,000 square feet of air rights above Saint Thomas Church at 678 Fifth Avenue for $36 million.

It didn’t stop there for acquisitions. After months of deliberation, Barnett acquired 405-417 Park Avenue for $500 million — as well as a chunk of air rights from Central Synagogue at 652 Lexington Avenue for $20 million — in early May 2026, representing the largest piece of his Midtown assemblage. Barnett is also seeking to acquire the adjacent office building at 110 East 55th Street.

As for more recent development plans, Barnett filed an application in late April 2026 to build a 1.2 million-square-foot, 430-unit residential development with roughly 25,000 square feet of retail at 80 West 67th Street.

Across the river in Brooklyn, Extell’s 720-foot-tall, 458-unit Brooklyn Point condo tower is more than 95 percent sold and is nearing sellout. Beyond New York City, Barnett is experimenting in Utah, where he’s building Deer Valley East Village in Park City, a luxury alpine village that will double as a premier skiing destination.

Oh, and did we mention Extell bought the Friars Club last month for $19 million? That should be good for a laugh.