Extell's Gary Barnett plays the real estate development game like chess. Whenever he makes a move, he's really thinking about the move three steps down the line. That seems to be what's up with Extell's acquisition on Tenth Avenue between 30th and 31st streets, a 7,300-square-foot chunk of land Extell just paid $17.1 million for (above). A 600,000-square-foot mixed-use tower is planned for the site, with condos, a hotel and commercial space. Of course, this part of town is a cruddy no man's land for such a gigantic project, that is, until the Hudson Yards get developed. Oh, and who's bidding on the MTA-owned Hudson Yards? Extell. And who did Extell just buy that parcel of land from? The Port Authority. And who is suddenly a great business partner to large, bureaucratic government agencies that deal with transportation? Ah. Three steps down the line, that ol' Gary. Three steps.
· Extell Moves To Get a Piece of a Hotspot in the Making [NYSun]
· 356-366 10th Avenue [NY Condo Blog]
· On Hudson Yards' Dizzying, Dark Strategic Framework [Curbed]