Gary Barnett buys air rights for Midtown supertall

Gary Barnett is buying assets and air rights left and right this week. Extell Development acquired air rights attached to 34 and 36 East 61st Street from Hartz Mountain Industries for $34.9 million, the Commercial Observer reported. The air rights could allow Barnett to expand plans for the proposed supertall at 655 Madison Avenue in Midtown. Neither company responded to a request for comment from the publication. It’s been relatively quiet on the project since the end of last year. That’s when Extell landed $1.13 billion in construction financing for the 74-story project. Adi Chugh’s Tyko Capital provided the mezzanine […]

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