Touro College pays $26.5M to Extell for commercial condos in Gem Tower

Touro College paid Extell Development’s Extell GT LLC $26.5 million for 12 commercial condominium units in the Gem Tower at 50 West 47th Street in the Plaza District. The deal closed on July 1, 2020, and was recorded on July 15, 2020. The transaction consists of 12 parcels, including the tax class commercial real estate (CR).

These are 12 condominium units on the 12th and 14th floors. The Real Deal reported in 2016 that Extell was looking to sell units to non gem traders. In 2014 Extell sold the upper portion of the building to SL Green Realty.

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