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
About this deal
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
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