Extell Acquires Air Rights to Possibly Expand Scope of 655 Madison Avenue
Thursday, November 12, 2026 · first reported by Commercial Observer
Extell Development paid Hartz Mountain Industries a total of $34.9 million for the air rights tied to 36 East 61st Street and 34 East 61st Street, property records filed Tuesday show. The rights could add development potential to Extell's 655 Madison Avenue project, a 74-story mixed-use tower at Madison Avenue and East 60th Street. It is planned to hold 154 condominiums plus 233,000 square feet of ground-floor office and retail space, with Chanel as a possible tenant.
Extell bought the tower site from Williams Equities in 2024 for $160 million. Neither company responded to requests for comment.
- Also named
- Hartz Mountain Industries
- Deal value
- $34.9M
- Asset class
- Real estate
- Geography
- North America
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