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First was a residential purchase that topped the charts for New York City: Extell - a national real estate developer as well as construction and asset manager in office, retail and multifamily properties - paid a reported $1.76 billion for a swath of land on the Upper West Side owned by Donald Trump and several Hong Kong-based partners. The move triggered a high-profile lawsuit filed by Trump against his partners for undervaluing the property. Around the same time, Extell launched a surprise bid to develop the Atlantic Yards in Brooklyn , attempting to snatch away an opportunity for creation of a New Jersey Nets arena from developer Forest City Ratner . |
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