Extell sells commercial condo to Success Academy for $68M Deal may provide the company with fresh liquidity
From left: 555 10th Avenue, Eva Moskowitz and Gary Barnett
Gary Barnett s Extell Development, currently working to lock down financing for several of its high-profile condominium projects, has collected $67.7 million from the sale of a commercial condominium unit at its 555 10th Avenue rental tower.
Success Academy Charter Schools bought the 93,871-square-foot commercial space at the base of the 562,325-square-foot tower, according to public records filed with the city Wednesday.
The sale price equates to $721 per square foot.
The deal comes as Extell works to secure financing for its Central Park Tower project, at 217 West 57th Street. Earlier this week, the company secured a one-week extension on a $235 million land loan from Blackstone Group for the tower, according to public disclosures made to its 上海同城对对碰交友社区