Gary Barnett has scored some big victories in the Diamond District of late, but in this case Extell’s loss is the World Diamond Tower’s gain.
Mr. Barnett, a former diamond dealer, bought 20 West 47th Street earlier this winter for $73 million in a judicial auction. But one of his diamond dealer tenants (a rare Read More
O.K., so it isn’t exactly a gem–at least not yet–but Mr. Barnett’s Extell has indeed pocketed another unremarkable property on 46th Street, between Fifth and Sixth avenues, in an apparent effort to move ahead with more development in the Diamond Distrisct.
In 2007 and 2008, Extell plucked a number such modest properties for its Diamond Read More
About 90 percent of all diamonds that enter the U.S. pass through New York’s diamond district, though you’d never know it walking down West 47th Street, a warren of grimy aluminum and puffy-coated hawkers, the claustrophobic energy of deal-making, all of it crammed like carbon atoms into a one-block expanse.
But to Gary Barnett, diamond Read More
Gary Barnett is trying once again to polish the rough diamond that is his International Gem Tower.
The 32-story project designed by SOM has been in the works for years now, with the hopes of creating a modern, centralized complex for the city’s arcane diamond industry. From the start, it has aggravated other landlords along Read More
Now that Extell has stripped a nine-story office building in the Diamond District of its air rights—for the purposes of elongating its 34-story International Gem Tower now under construction down the block—the closely held firm has sold the building for $9 million to an unnamed jeweler from Kazakhstan.
“There was a lot of local interest, Read More
Extell Development, which is planning a 40-story tower in the Diamond District, has just acquired a 55,000-square-foot building on the same block for $50 million, according to city documents posted today.
The Fifth Avenue Jewelers Exchange sold the building at 30 West 47th Street to Extell, led by Gary Barnett, a former diamond trader Read More
