Extell Development Company
Corporate brand
UnclaimedA privately held American real estate developer associated with luxury residential, commercial, hospitality, retail, and mixed-use projects in New York City.
Last updated August 31, 2026
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Overview
Extell Development Company is an American real estate development firm founded in New York City in 1989 by Gary Barnett. The company develops and owns residential, commercial, retail, hospitality, and mixed-use properties, with a particular concentration in Manhattan. Its work ranges from luxury condominium towers and rental buildings to major urban redevelopment projects and hotel-related properties. The company was previously known as Intell Management and Investment before adopting the Extell name. Over time, it became identified with large-scale, high-end developments that combine prominent sites, internationally recognized architects, and luxury-oriented sales and marketing. Its portfolio has been described as exceeding 20 million square feet, while the company has been reported to employ approximately 125 to 150 people; these figures are subject to change and are not treated here as current audited corporate disclosures. Extell became especially prominent during the expansion of Manhattan's supertall residential market. Its development of One57, a luxury condominium tower near Carnegie Hall and Central Park, helped establish the cluster of residential skyscrapers later marketed as Billionaires' Row. The project used financing from sovereign wealth funds associated with Abu Dhabi and became an important example of the global capital flows supporting New York luxury real estate during the early 2010s. The developer has also undertaken projects on the Upper East Side, along Riverside South, and at other prominent Manhattan locations. Its portfolio includes Central Park Tower, One Manhattan Square, One Riverside Park, 995 Fifth Avenue, The Ariel, The Orion, W Times Square, and 50 West 66th Street. Central Park Tower, completed in 2020, was described as the world's tallest building devoted entirely to residential use. Financing for the 1,550-foot tower included Israeli bond-market funding, the EB-5 immigrant-investor program, and investment from Shanghai Municipal Investment Group. Extell's market position is generally associated with premium urban housing, especially residences offering views of Central Park, the Manhattan skyline, or major waterfront districts. At the same time, the company has faced public criticism over affordable-housing integration and development practices. In 2013, critics objected to separate entrances for market-rate and subsidized residents in one or more Manhattan high-rise projects. The company also became involved in a dispute over the use of mechanical spaces to increase the height and value of the proposed 50 West 66th Street tower. In 2025, Extell announced plans for a new residential tower at the former ABC Studios site on West 66th Street and Columbus Avenue, including a proposal for 121 affordable units, primarily studios for senior citizens. The proposal was presented in the context of avoiding the prolonged legal and political disputes associated with the earlier 50 West 66th Street plans.
History
Extell Development Company was established in 1989 by Gary Barnett. Before 2005, the business operated under the name Intell Management and Investment. It developed from a New York real estate investment and development operation into a firm active across several property categories, including residential, commercial, retail, hospitality, and mixed-use projects. The company's growth was closely connected to the transformation of Manhattan's residential skyline. Extell pursued prominent development sites and projects that could support large floor areas, premium views, and high-end residential pricing. Its portfolio came to include properties on the Upper East Side, in Midtown, around Central Park, and along the Hudson River. Riverside South represented participation in a major waterfront redevelopment area, while properties such as 995 Fifth Avenue, The Ariel, The Orion, and W Times Square broadened the company's range beyond a single residential format. By 2013, an industry survey reported that Extell was Manhattan's most active builder, with at least 11 projects under construction or active development totaling over five million square feet. This period coincided with a resurgence in luxury condominium development and the growing role of overseas capital in New York real estate. Extell used financing connected to Abu Dhabi sovereign wealth funds for One57, a supertall residential tower in Midtown Manhattan. The building's scale and location helped establish the high-rise luxury condominium cluster south of Central Park that became known as Billionaires' Row. Extell subsequently developed Central Park Tower, another exceptionally tall residential project on West 57th Street. Completed in 2020, the tower rose approximately 1,550 feet and was described as the world's tallest purely residential building. Its financing structure drew on several international sources, including the Israeli bond market, the EB-5 immigrant-investor program, and Shanghai Municipal Investment Group. The project illustrated both the capital intensity of supertall construction and the international investor networks supporting major New York developments. The company has also attracted controversy. In 2013, Extell faced criticism over separate entrances for market-rate and subsidized residents in one or more of its Manhattan high-rise developments. The issue became part of a wider debate over whether affordable housing in luxury buildings was being integrated or physically segregated. Later, the proposed 50 West 66th Street tower generated a zoning dispute concerning so-called mechanical voids. Extell sought to increase the building's height by allocating substantial vertical space to mechanical areas, thereby improving the views and potential value of upper-floor residences. After objections from community and political groups, the plan was revised to use three smaller voids. The Board of Standards and Appeals allowed the building to proceed after a divided vote, while Landmark West pursued legal opposition. The New York City Council subsequently voted to close the mechanical-void loophole, although the change did not apply in time to stop construction of the project. In 2025, Extell announced a further residential tower proposal for the former ABC Studios site at West 66th Street and Columbus Avenue. The site's zoning reportedly allowed a supertall luxury building without an affordable-housing requirement, but Extell proposed 121 affordable units, mainly studio apartments for senior citizens. The offer was presented as an attempt to reduce the risk of the legal and political conflicts that had affected the earlier West 66th Street development. Extell therefore remains associated with both the expansion of New York's luxury skyline and the policy disputes surrounding density, affordability, zoning, and social integration in high-value urban housing.
- 2025
West 66th Street tower proposal announced
[1]Extell announced a proposed residential tower at the former ABC Studios site, including 121 affordable units.
- 2020
Central Park Tower completed
[1]Extell completed the 1,550-foot Central Park Tower, described as the world's tallest purely residential building.
- 2013
Recognized as Manhattan's most active builder
[1]A survey reported by The Real Deal listed Extell as Manhattan's most active builder, with at least 11 active projects totaling more than five million square feet.
- 2013
One57 helps establish Billionaires' Row
[1]Extell's One57 became an early supertall luxury residential tower associated with the development of Manhattan's Billionaires' Row.
- 2005
Former Intell name replaced
[1]The company was no longer operating under its earlier name, Intell Management and Investment, and was known as Extell Development Company.
- 1989
Company founded
[1]Gary Barnett founded the New York real estate development company that became Extell Development Company.
Products and positioning
A New York-focused, luxury-oriented real estate developer specializing in high-value residential towers, prominent Manhattan sites, and complex mixed-use or large-scale urban projects.
Luxury residential skyscraper
One57
One57 is a luxury condominium tower in Midtown Manhattan near Central Park and Carnegie Hall. Developed with international financing, it was one of the earliest supertall residential projects to define the modern Billionaires' Row skyline. Its prominence helped position Extell as a leading developer of ultra-high-end Manhattan residences.
Luxury residential skyscraper · 2020
Central Park Tower
Central Park Tower is a 1,550-foot residential skyscraper on Manhattan's West 57th Street. Completed in 2020, it was described as the world's tallest building devoted entirely to residential use. The project represents Extell's emphasis on supertall construction, premium Central Park views, and globally sourced project finance.
Residential tower
One Manhattan Square
One Manhattan Square is a major Extell residential development in Lower Manhattan. It is part of the company's broader portfolio of large urban housing projects and reflects its participation in the transformation of waterfront and formerly industrial areas into high-density residential districts.
Luxury residential building
One Riverside Park
One Riverside Park is an Extell residential project associated with Manhattan's Upper West Side and Riverside South area. It forms part of the company's work in large-scale, high-value residential development along the Hudson River waterfront.
Proposed luxury residential skyscraper
50 West 66th Street
50 West 66th Street is a proposed or developing residential skyscraper on Manhattan's Upper West Side. The project became the subject of a zoning dispute involving the use of mechanical-space voids to increase the building's height and the value of upper-floor apartments. Its approval and construction were challenged by community and political opponents.
Mixed-use waterfront redevelopment
Riverside South
Riverside South is a large-scale Manhattan waterfront redevelopment area in which Extell has developed properties. The project illustrates the company's involvement in complex urban regeneration schemes rather than only individual luxury towers.
Residential and commercial property
995 Fifth Avenue
995 Fifth Avenue is a notable Manhattan property associated with Extell's portfolio. It represents the company's work with prominent central-city buildings and high-value residential or mixed commercial assets.
Residential building
The Ariel
The Ariel is a Manhattan residential property developed by Extell. It is among the company's portfolio of urban apartment and condominium projects outside its best-known supertall developments.
Residential tower
The Orion
The Orion is a Manhattan residential tower associated with Extell. It demonstrates the company's involvement in conventional high-rise housing as well as exceptionally tall luxury condominium projects.
Hospitality property
W Times Square
W Times Square is a hospitality property associated with Extell's broader development portfolio. It reflects the company's activity in hotel and mixed-use real estate in addition to residential construction.
Controversies
2013
Separate entrances for subsidized and market-rate residents
Extell was condemned and criticized after reports that one or more Manhattan high-rise projects used separate entrances for market-rate and subsidized tenants. The practice became a prominent example in debates about the social integration of affordable housing within luxury developments.
Mechanical-void zoning dispute at 50 West 66th Street
Extell's use of mechanical-space voids to increase the proposed height of 50 West 66th Street prompted opposition from local elected officials and Landmark West. The Board of Standards and Appeals allowed the project to proceed after a divided decision, while subsequent City Council action sought to prevent similar use of the zoning provision in the future.
Brand decisions
2025
Offer affordable housing in the West 66th Street proposalStrategyBackground
The proposed site could reportedly support a supertall luxury building without an affordable-housing requirement, while the earlier 50 West 66th Street project had faced costly legal and political opposition.
Action taken
Extell proposed including 121 affordable apartments, primarily studio units for senior citizens, in the new residential complex.
Aftermath
The offer was intended to reduce conflict over the project, although the available reference material does not establish the final approval, construction, or completion outcome.
2020
Complete Central Park TowerProduct launchBackground
The project required substantial international financing and was designed as a 1,550-foot residential skyscraper in Midtown Manhattan.
Action taken
Extell completed Central Park Tower and brought its residential offering to the luxury supertall market.
Aftermath
The building was described as the world's tallest purely residential building, reinforcing Extell's profile in Manhattan's supertall condominium sector.
2013
Expand aggressively in Manhattan luxury developmentStrategyBackground
Extell was reported to have at least 11 active Manhattan projects totaling more than five million square feet during a period of rapid luxury residential construction.
Action taken
The company pursued a broad pipeline of prominent residential, commercial, and mixed-use developments, including projects of exceptional height and scale.
Aftermath
The strategy helped make Extell one of Manhattan's most active builders and strengthened its association with luxury high-rise development.
Recent events
Reported
Extell cuts prices at One Manhattan Square[3]
Extell Development announced discounts of up to 20 percent on all remaining units at its One Manhattan Square condominium, saying the decision was made in response to global conditions related to COVID-19.
Reported
Extell sues City Club over alleged settlement agreement[4]
Extell Development filed a lawsuit alleging that City Club of New York agreed to drop its case over 50 West 66th Street in exchange for a $300,000 settlement, then continued its challenge. City Club's attorney said there was no agreement and described Extell's lawsuit as baseless.
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