facebook
Traded Co logo
Submit
Daily limit: 0/10

Extell Acquires Seven Hell’s Kitchen Properties For $57.7 Million With Centennial Bank Loan

Property Image
FINANCED
$57,700,000

New York

See Similar Deals
Development Site
Financed
the dealplayerscompscontact
Property Image
FINANCED

Extell Acquires Seven Hell’s Kitchen Properties For $57.7 Million With Centennial Bank Loan

616 West 46th Street, 604 West 46th Street & 617 11th Avenue New York

See Similar Deals
Development Site
Financed
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Loan

A development site located at 616 West 46th Street, 604 West 46th Street & 617 11th Avenue in Hell’s Kitchen, Manhattan has been involved in a significant transaction. The site has a total built space of 116,458 square feet and air rights totaling 199,715 square feet. The acquisition was financed through a loan amount of $57,700,000, obtained at a price of $495 per built square foot and $191 per buildable square foot.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $57,700,000
  • Loan Type: Acquisition
  • Asset Size: 301,220 BSF
  • Market: Hell’s Kitchen, Manhattan
  • Lender: Centennial Bank
  • Landlord: Gary Barnett - Extell

This acquisition involved Extell Development through Clinton PB Holdings I LLC. The transaction reflects a strategic expansion by Extell, positioning them to capitalize on the air rights associated with the properties acquired.

Players

Centennial Bank
Centennial Bank
LENDER
EXTELL
EXTELL
LANDLORD

Details

FINANCED
IMAGE: Gary Barnett DATE: 02/05/2026 ADDRESS: 616 West 46th Street, 604 West 46th Street & 617 11th Avenue MARKET: Hell’s Kitchen, Manhattan ASSET TYPE: Development Site ~ BSF: 301,220 LENDER: Centennial Bank (@my100bank) LANDLORD: Gary Barnett - Extell (@Extell) LOAN AMOUNT: $57,700,000 LOAN TYPE: Acquisition NOTE: Extell Development, through Clinton PB Holdings I LLC, acquired seven Hell’s Kitchen properties totaling 116,458 sq ft of built space and 199,715 sq ft of air rights, securing a $57.7M acquisition loan from Centennial Bank, with a price per built square foot of $495 and per buildable square foot of $191.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$57,700,000.00

Monthly NOI$384,666.67
Monthly Debt Service$364,703.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00