Gary Barnett buys AJC Building at 165 East 56th Street

What’s Gary Barnett to this point?

Extell Improvement purchased an workplace constructing on East 56th Avenue about two blocks over from the massive development project he’s stitching collectively on Park Avenue, The Actual Deal has discovered.

Plans for the positioning weren’t instantly clear, however it might be the newest transfer in Barnett’s mysterious multi-block assemblage that’s captured everybody’s consideration.

Extell paid $39 million to purchase the American Jewish Committee constructing at 165 East 56th Avenue. The AJC, which has lengthy occupied the 60,000-square-foot constructing as its headquarters, is planning to relocate and marketed the property as a candidate for a residential conversion.

The eight-story constructing is on the nook of Third Avenue. And because it’s two blocks away from Barnett’s massive Park Avenue web site, it doesn’t appear as if any potential air rights might be transferred. 

It’s potential Extell might have purchased the constructing as a vacation spot to relocate tenants. Barnett is alleged to be trying to purchase a constructing at 111 East 54th Avenue, house to the personal membership The Brook.

Observers had speculated that the developer needed to purchase that constructing and relocate The Brook to the previous Friars Club building at 57 East fifty fifth Avenue, which Extell just lately purchased for $19 million.

However a longtime doorman at The Brook advised TRD earlier this month that the membership will not be going anyplace and the constructing will not be on the market.

Representatives for Extell and the American Jewish Committee didn’t instantly reply to requests for remark. A CBRE staff led by Dan Kaplan and Doug Middleton organized the sale.

Extell earlier this month paid $500 million to purchase the event web site at 405-417 Park Avenue. The corporate additionally purchased air rights from the Central Synagogue for $20 million and could also be taking a look at much more properties to develop the positioning.

The venture has about 527,000 sq. toes of improvement as-of-right, which might develop as much as 700,000 sq. toes of rentable workplace area with extra air rights.