Posted Jan 22, 2013, 5:04 PM
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Join Date: Jan 2012
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NEW YORK | 1683 Third Avenue | FT | FLOORS
Extell buys building, development rights in Yorkville
January 21, 2013
By Guelda Voien
Quote:
The mega-developer, of One57 and 995 Fifth Avenue fame, bought the commercial building at 1683 Third Avenue for $3.2 million, in a deal that closed on Dec. 27, records show. That day, the same entity paid $7.7 million for the property’s development rights, including air rights, as well as the development and air rights for an adjacent parcel at 1681 Third Avenue, according to records. (The entity, called Ex Third Avenue LLC, lists its address as Extell Development’s address in property records.)
It was not immediately clear what Extell’s plans for the parcels might include, although the both lots are zoned for commercial use on the first and second floors, with residential use above, according to the Department of City Planning’s website. (A spokesperson for the agency was not immediately available for comment.)
Both existing structures are multi-family buildings with at least six units that include retail, according to the New York City Department of Finance’s classification system.
The sellers were two LLCs listed as 1683 Third Avenue Associates and 1681 Third Avenue Associates.
In 2004, another LLC, which identifies Gary Barnett, Extell’s president, as manager, bought two other buildings on the same block — at 1689 and 1687 Third Avenue.
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Extell Buys Building and Development Rights on Third Ave
Tuesday, January 22, 2013
by Jessica Dailey
Quote:
Gary Barnett and Extell Development may have an Upper East Side project in the works. The Real Deal reports that Extell purchased the mixed use building at 1683 Third Avenue between 94th and 95th Streets for $3.2 million, and the developer paid another $7.7 million for the property's development rights, including air rights. Extell also bought the development and air rights for the building next door at 1681 Third Avenue.
Both properties are four-story rowhouses zoned for commercial use on the first two floors, with residential above, and that's currently what they are used for. 1683 has 11 units, and Elliman lists a 1BR/1BA going for $1,495/month). Extell's plans for the properties are unknown, so if you have any other intel, you know what to do.
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Looks like this part of the upper east side could get a building that's about 500 to over 700 feet tall! It better have a great design because it will have lots of open space here.
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