Extell Development Acquires Future Dev Site On Broadway From New York Institute Of Technology For $90M

The future development site located at 1855 Broadway has been sold for a transaction amount of $90,000,000. The property boasts a buildable square footage (BSF) of 109,063, with a price per square foot (PPSF) of $825. The buyer of this asset is Extell Development, led by Gary Barnett, while the seller is the New York Institute of Technology (NYIT). The deal was facilitated by brokers Jordan Roeschlaub and Dustin Stolly.

Summary of transaction details:

• Property Type: Future Development Site
• Transaction Amount: $90,000,000
• Buildable Square Footage (BSF): 109,063
• Price per Square Foot (PPSF): $825
• Buyer: Extell Development – Gary Barnett
• Seller: New York Institute of Technology (NYIT)
• Brokers: Jordan Roeschlaub, Dustin Stolly

This significant transaction involved the collaboration of various individuals and companies. Extell Development, led by Gary Barnett, took the opportunity to acquire the future development site at 1855 Broadway. New York Institute of Technology (NYIT) acted as the seller in this deal. The successful completion of the transaction was facilitated by brokers Jordan Roeschlaub and Dustin Stolly.