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Manhattan's Upper East Side's first supertall at 1,162 feet, this 74-story Extell tower redefines luxury living. Featuring 154 residences above a flagship Chanel store and 233,000 square feet of premier commercial space.
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The Upper East Side’s future tallest building, and its first supertall, is one step closer to reality. Gary Barnett’s Extell Development has closed on approximately 135,000 square feet of development rights from the landmarked Metropolitan Club for $39.9 million. The air rights will be used for a 74-story, 1,162-foot-tall mixed-use skyscraper. Spanning roughly 765,000 square feet, the tower will include 233,000 square feet of commercial space, 154 residential units, and a flagship Chanel store at its base.
In late December 2025, Extell Development secured a $1.13 billion construction loan for its forthcoming 74-story tower at 655 Madison Avenue. Luxury retailer Chanel will have a new flagship store in the base of the building as well as offices on upper levels, and condo units will be located on upper floors.
Luxury brand Chanel is reportedly in talks to buy the retail space at the forthcoming 655 Madison Avenue, thus providing the tower a luxury anchor tenant at the offset. Luxury brands like Prada and Keuring have taken similar steps with New York real estate.
thus providing the tower a luxury anchor tenant at the offset. Luxury brands like Prada and Keuring have taken similar steps with New York real estate.Il Mulino's uptown restaurant announced plans to relocate from 37 East 60th Street to 58 East 56th Street, where it will reopen in summer 2025 under the name Il Mulino NY Madison. The current location is part of the assemblage set to be demolished to make way for Extell's forthcoming tower at 655 Madison Avenue.
According to a recent rezoning application, Extell Development seeks to have its new tower at 655 Madison Avenue rise to 74 stories high. Plans for a 37-story tower were filed in late 2024, but the developer plans to transfer development rights from the nearby Metropolitan Club and make improvements to the Fifth Avenue-59th Street N/R/W subway station in exchange for additional space.
Over the course of a few months, developers Related Companies and Extell Development have set in motion plans for luxury skyscrapers on the east corners of East 59th and 60th Streets on Madison Avenue. The sites are a few blocks southeast of Billionaires' Row.
Extell Development Company is planning a 37-story tower with 62 condos on top of commercial space at 655 Madison Avenue. In March 2025, The Real Deal announced that Chanel was in talks to buy the retail space on the forthcoming tower's ground floor.
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