Extell Buys 1645 First Avenue on the Upper East Side for $28M
By Mark Hallum November 11, 2026 12:21 pm
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Gary Barnett’s Extell Development continues to stockpile small plots of land around Manhattan.
Extell’s most recent acquisition made public since its previous buy on Monday is the $27.9 million purchase of 1645 First Avenue from Jay and Stuart Podolsky of Amsterdam Hospitality Group in the Yorkville section of Manhattan’s Upper East Side, according to property records.
It’s unclear what Extell’s plans are for the plot of land where a good old-fashioned New York City dive bar once stood. The development firm declined to comment, but in 2021 it filed plans for a 542-unit housing project on the site, according to PincusCo. The midblock site sits on First Avenue between East 85th and East 86th streets.
On Monday, it also surfaced that Extell had paid $18 million to Lighthouse Properties and Solil Management for 1190 Avenue of the Americas in Midtown, on the same block it’s building a 29-story office and retail building anchored by a full-sized Ikea store.
Just weeks ago, Barnett closed on a $24 million deal for 87,000 square feet of air rights belonging to the Church of St. Mary the Virgin at 145 West 46th Street in Times Square, which is on the same block as the 1190 Avenue of the Americas property.
Amsterdam Hospitality Group could not be reached for comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
