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Report: Extell to acquire Manhattan, NY, property for $90M

Extell Development Co. is buying a 12-story building at 1855 Broadway in Manhattan, N.Y., from the New York Institute of Technology for approximately $90 million, The Real Deal reported, citing unnamed sources.

The deal cannot be completed unless the institute makes plans to relocate its Columbus Circle campus, the news outlet added, citing sources with knowledge of the negotiations.

Representatives for Extell and the institute declined to comment on the matter, The Real Deal added.