Extell Development Company

The story of Extell Development Company begins not in real estate, but in the diamond trade. Gary Barnett, the company's founder, started his career as a diamond trader in Belgium. In 1989, Barnett, a native New Yorker, returned to the U.S. and pivoted to real estate, founding the company that would later become Extell. Initially known as Intell Management and Investment, the firm began by acquiring properties across the country. The company's focus sharpened on New York City, where Barnett saw significant potential. A key early move was the 1994 purchase of the Belnord, an apartment building on the Upper West Side. Extell's playbook became clear: identify potential, assemble properties, and develop luxury residential, commercial, and hospitality buildings. This strategy led to the development of prominent projects like the W Hotel in Times Square and The Orion, a 60-story luxury tower. Extell, which remains a private company, has never had an IPO or been acquired. Instead, its growth has been fueled by private capital, partnerships, and debt financing for its ambitious projects. The firm is known for kickstarting the development of "Billionaires' Row" with supertall towers like One57 and Central Park Tower, the tallest residential building in the world. These projects have reshaped the Manhattan skyline and set new benchmarks for luxury living. Today, Extell's portfolio exceeds 20 million square feet, cementing its status as one of New York's most active and influential developers.