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JV To Acquire West Side Parcels

NEW YORK CITY-A joint venture comprised of Extell Development Corp and the Carlyle Group will pay $1.8 billion for the residential parcels, sources say.

By Barbara Jarvie | Updated on June 01, 2005

NEW YORK CITY-Sources tell GlobeSt.com that a joint venture comprised of Extell Development Corp and the Carlyle Group has signed an agreement to acquire a grouping of West Side residential locations currently owned by Donald Trump and a Japanese investment group for approximately $1.8 billion. The 77 acres are located from on a former rail yard along the Upper West Side from 59th to 72nd streets.

Extell is a Boston-based development group, while Carlyle has its headquarters in Washington, DC. None of the principal players commented on the tentative deal.

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