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165 East 56 Street, Manhatt...

Gary Barnett's Extell Acquires Manhattan Office Building From Ted Deutch For $39 Million
SOLDOffice

Gary Barnett's Extell Acquires Manhattan Office Building From Ted Deutch For $39 Million

165 East 56 Street, Manhattan, 10022, Ny

$39,000,000

$656/SF

Building Size

59,400 SF

Asset Type

Office

Closing

May 13, 2026

AI

An office building located at 165 East 56th Street in Manhattan, NY, has been sold for $39 million. The asset spans 59,400 square feet, resulting in a price per square foot of approximately $657. The transaction took place within the Manhattan market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $39,000,000
  • Square Footage: 59,400
  • Price Per Square Foot: $657
  • Buyer: Gary Barnett - Extell
  • Seller: Ted Deutch - American Jewish Committee

Gary Barnett's company, Extell Development, acquired the property from the American Jewish Committee, represented in the transaction by Ted Deutch.

Players

Gary Barnett

EXTELL

Buyer

$8.3B

vol

59 deals

Buyer

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.41%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93