47th Street Building Sold

One of 47th Street’s jewelry buidlings has been sold, according to real estate publication Real Deal.

 

The publication says that 30 West 47th Street, which was purchased by Extell Development in 2008, was recently sold to Jesma Reality, for around $42.5 million – less than the $50 million originally paid.

 

The publication says that, prior to its sale, the building was stripped of the air rights that Extell needed for its next-door Gem Tower, meant to be built at 50 West 47th.

After buying a lot of 47th Street buildings, Extell head Gary Barnett responded to fears he was talking over the block by telling the New York Post he was “just assembling a lot of air rights.”

 

JCK covered Mayor Bloomberg’s “dedication” of the over 30-storey Gem Tower here.