US·Acquisition·Office
Gary Barnett's Extell lands $500M acquisition of 405-417 Park Avenue
Value
$500M
Location
New York City, New York County, New York
Date
2026-05-08
Companies
Extell Development Company, GDS Development, Klovern AB, DWS Group, MRP Realty, Newmark
Extell Development closed on a $500 million purchase of the 405-417 Park Avenue development site, a full block on Park Avenue between East 54th and East 55th streets in Midtown Manhattan. Prior ownership interests included GDS Development and Swedish investor Klovern AB at 417 Park Avenue, and DWS Group with MRP Realty at 405 Park Avenue. Newmark brokers Adam Spies, Marcella Fasulo, and Adam Doneger represented the offering, and additional advisers were cited in reporting.
new-yorkmidtowndevelopment-sitepark-avenue
Source
Commercial Observer