Acquisition · Midtown East
110 East 55th Street, Manhattan, New York, NY trades for $65M
Extell Development bought the 19-story Park 55 office building from the Parkoff Organization, adding to a larger Midtown assemblage that also includes 111 East 54th Street.
- Amount
- $65M
- Type
- Acquisition
- Date
- Jul. 2026
110 East 55th Street, Manhattan, New York, NY
Recorded in NYC property records.
- Buyer
- Extell Development
- Seller
- Parkoff Organization
- Lender
- JPMorgan Chase Bank, National Association
- Seller was the Parkoff Organization, per the deed and Commercial Observer.
- A JT Magen affiliate filed a pre-foreclosure suit at the property in May, according to Commercial Observer.
- The building is a 19-story Midtown office property known as Park 55.
- Financing agreements with JPMorgan Chase cover this and four other Extell-related parcels, per city records.
Overview
Extell Development bought 110 East 55th Street, a 19-story Midtown office property also known as Park 55, from the Parkoff Organization for $65 million, according to Commercial Observer. City records show a deed dated July 31, 2026, and recorded Aug. 17, 2026, transferring the property from Park 55 Assets LLC to 110 E 55 LLC, both c/o the respective firms.
Gary Barnett had been reported to be in contract for the property in January, but a price was not reported until the sale closed, Commercial Observer said. In May, an affiliate of construction company JT Magen filed a pre-foreclosure suit at the property, alleging Parkoff had defaulted on a loan and owed some $40.6 million in principal and interest, the publication reported.
The building is part of a larger Midtown assemblage that is also set to include 111 East 54th Street, according to Commercial Observer, which said Extell's plans for the site are unclear. Parkoff and Extell did not immediately respond to the publication's requests for comment.
On the same date, agreements were recorded in which 110 E 55 LLC and three other Extell-c/o entities are parties with JPMorgan Chase Bank, National Association, covering 110 East 55th Street and nearby parcels including 405 Park Avenue, 407 Park Avenue, 57 East 55th Street and 165 East 56th Street.
The purchase adds another parcel to Extell's growing block of Midtown holdings, and resolves a property that had been the subject of a pre-foreclosure suit. The JPMorgan agreements spanning several adjoining parcels suggest the sites are being financed together.
Parties Involved 3 recorded
Basis
Commercial Observer reports Extell bought the property; deed names 110 E 55 LLC c/o Extell Development Company.
Basis
Commercial Observer names Parkoff as seller; deed names Park 55 Assets LLC c/o The Parkoff Organization.
Basis
Named as party 2 on agreements recorded in ACRIS covering the property and adjoining parcels.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- Extell Finalizes Deal to Buy 110 East 55th Street for $65M — Commercial Observer
- ACRIS deed 2026080400836002 — NYC ACRIS
- ACRIS agreement 2026080400836004 — NYC ACRIS