The Deal Is Sealed

Neighborhood residents long suspected mega-developer Extell was purchasing the plot of land formerly occupied by a Pathmark, and today The Lo-Down confirmed it. Formerly known as 227 Cherry Street and now referred to as 250 South Street, public records show that Extell bought the riverside site, which can accommodate a 1 million-square-foot building, for a total of $150 million (less than the amount projected earlier this year). Despite the fact that Extell chief Gary Barnett grew up on the Lower East Side, his history of luxury highrise construction is a sign that he's unlikely to sympathize with low-and middle-class residents in the area. They're already worried a project he's spearheading wouldn't deign to rent retail space to an affordable grocery store. [The Lo-Down]