Extell Snatches Diamond District Building for $50 M.
Property Shark
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 and the developer of Riverside South, who previously told the Post he was merely "assembling a lot of air rights" in the area.
The Exchange has owned the building, home to tenants like Afra Diamond Inc. and All That Glitters Diamonds, since at least the 1970s.
I can't believe it another massive project going up in the breath taking diamond district . A 40 story tower that Extell just purchase, not surprising, when you think that everyone who's anyone comes from all over to get a piece of the business that the district attracts.
Help! Extell is my landlord and they're trying to evict little old ladies. I don't know what to do, they're totally playing dirty. There's lots of harassment going on and buy-outs that aren't enough.