Extell sells commercial building to CBS for $26.8M

CBS Broadcasting paid Extell Development’s 500W57 130 LLC $26.8 million for 500 West 57th Street in Clinton. CBS owns the adjacent property to the south, 857 10th Avenue and a larger property next to that at 513 West 56th Street.

The deal closed on January 22, 2021 and was recorded on February 3, 2021. The transaction consists of 1 parcel, including the tax class office building with seven to 19 stories (O3). The property is 23,923 square feet.
The average sale price per square foot is $1,118.

The contract date was October 20, 2020. Barnett bought the building in 2017 for $19 million.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $40,000.

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