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The brand new York City Department of Buildings (DOB) fined Extell in May 2012, after Vornado claimed that Extell had violated the phrases of the lease as a result of residents of the empty rental constructing were not the main patrons of the storage. The old building was bought in August 2005 for $136.6 million. Due to the precious air rights concerned, one uninvolved broker estimated that the property would sell for as a lot as $160-175 million. In October 2013, the 2 companies reached a settlement in which Vornado would give Extell $194 million for the storage and a few air rights. The first listing for an apartment resale in the building occurred in January 2020, when Leibovitch listed his four-bedroom apartment for $36 million, a $10 million markup from the price at which he had purchased it. The constructing accounted for $592 million in condominium gross sales within the third quarter of 2020, out of $1.85 billion in sales in the whole borough of Manhattan throughout that time.
