Real Estate
Billionaires’ Row Developer Buys NYC Office Tower for Condos
- Extell’s price for 655 Madison Ave. is nearly $160 million
- Elliott-backed Tyko Capital provides financing for the deal
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Extell Development, the company behind some of Manhattan’s most expensive condo skyscrapers, bought a Madison Avenue office property with plans to build luxury housing and retail at the site.
The developer purchased 655 Madison Ave. — between 60th and 61st streets — from Williams Equities for nearly $160 million, according to property records. Tyko Capital, which is backed by Elliott Investment Management, is financing the acquisition, according to a person familiar with the matter who asked not to be named discussing private information.