Developer Buys Helmsley Gem: A partnership that includes local megadeveloper…

A partnership that includes local megadeveloper Extell has signed a deal to purchase the Helmsley Carlton House at 680 Madison Avenue (at 62nd Street) from the estate of late real estate lioness Leona Helmsley for $170 million, the Wall Street Journal reports. The 16-story brick luxury hotel has 161 apartment-style rooms, and though the story doesn’t mention the investors’ long-term plans, might Extell be plotting another blockbuster condo conversion of a classic Upper East Side hotel like the company did with Fifth Avenue’s Stanhope? [WSJ]

Tags: 680 Madison Avenue, commercial real estate, extell, Helmsley Carlton House, hotels, Quicklink, Upper East Side

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