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Gary Barnett (born c. 1956) is an American businessman. He is the president and founder of Extell Development Company , a real estate development firm involved in residential, commercial and hospitality properties, including several high-profile buildings in Manhattan , New York .
Extell Development Company is an American real estate developer of residential, commercial, retail, hospitality, and mixed-use properties. Founded in 1989 by Gary Barnett, the company’s portfolio exceeds 20 million square feet. [1] The company has between 125 and 150 employees. [2] Prior to 2005, it was known as Intell Management and ...
Gary Barnett (1956–), founder of the Extell Development Company (known for One57 a.k.a. "The Billionaire Building") [3] Joseph Barry (1933–), co-founder of the New Jersey-focused Applied Housing Company and the Hudson Reporter newspaper chain [4] Jack Benaroya (1921–2012), developer, founder of the Benaroya Company [5] [6]
Extell Development Company's founder and president, Gary Barnett, acquired the property and air rights over fifteen years, [63] buying the first property on One57's present site in 1998. At first, Barnett said he wanted to build a 40-story, 300,000 sq ft (28,000 m 2) building for $300 million. [64]
Prior to launching HFZ in 2005, Feldman was principal at the national development firm Property Markets Group (PMG), which he co-founded with Kevin Maloney in 1991. At PMG, Feldman also worked with Gary Barnett of Extell Development Company.
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Property Markets Group and Gary Barnett bought the Belnord in 1994, and Barnett spent over $100 million on renovations. Barnett's Extell Development Company sold the apartments in 2015 to the HFZ Capital Group, which converted many apartments to condominium units starting in 2017.
Meanwhile, Extell Development had leased the parking garage under part of the old building's site in 2006. [48] [49] Extell's CEO, Gary Barnett, stated that he leased the garage so that he would have enough parking for his own nearby developments. [14] However, Extell repeatedly refused Vornado's attempts at a buyout or settlement. [49]