Extell Development Company
Press Release

FOR IMMEDIATE RELEASE

Extell Development's 212 East 47th Street is 90% Sold Out

New York, NY (July 10, 2008) - Gary Barnett, president of Extell Development Company announced today that just 48 out of the 260 residences remain at 212 East 47th Street and the building is now 90% sold.

Strong sales are attributed not only to the affordable luxury Extell is offering but also to the variety of homes, and the range of amenities available to owners. 212 East 47th Street is 50% closed, move-ins began in January 2008 and residents’ response to their new homes has been fantastic.

Set in the heart of Manhattan’s Turtle Bay neighborhood, this 35-story high-rise condominium conversion offers a unique selection of one, two and three bedroom homes, many with private balconies, starting at $706,280.

The 212 experience begins the moment one enters the inviting atrium lobby with its 24-hour concierge and doorman who attend to residents’ every need. For unparalleled amenities catering to mind, body and soul, residents can rely on the state-of-the-art fitness center. Convenience is a step away thanks to available on-site parking and relaxation is assured with a media lounge, pantry kitchen, library and conference center conveniently located on the 2nd floor. Residents also appreciate the tranquility and panoramic views from the rooftop garden.

Generous floor plans, quality finishes and expansive views are hallmarks of the homes at 212 East 47th Street. As with all Extell developments, residents will enjoy the “Extell Choice” which offers them the opportunity to cater their homes to their specific tastes and needs. Three design packages of traditional, contemporary or modern finishes for flooring, kitchens and baths are available. Premium details such as natural, dark walnut or white floors, granite and mosaic tiles for spa-like baths and crystallized glass and engineered rosewood with frosted glass for chef-style kitchens are just some of the options offered by Extell.

212 East 47th Street boasts an enviable and centrally located Manhattan address. Parks, recreation and cultural activities abound, as well as cultural and educational facilities, world-class restaurants and the chicest shops. In addition, Grand Central Station is located nearby offering a host of public transportation options.

Corcoran Group Marketing is the exclusive marketing and sales agent. The sales and design gallery is located at 212 East 47th Street between 2nd and 3rd Avenues. To schedule an appointment please call 212-755-4746 or visit www.212east47th.com.

CORCORAN GROUP MARKETING

Corcoran Group Marketing is a division of Corcoran Sunshine Marketing Group. With over 20 years of experience in marketing and collective sales of $20 billion, Corcoran Sunshine is the recognized industry leader in the predevelopment planning, marketing, and sales of luxury residential development. Representing properties throughout the United States and in select international locations, Corcoran Sunshine’s portfolio contains a curated collection of the world’s most desirable new addresses.

EXTELL DEVELOPMENT COMPANY

Nationally acclaimed real estate developer of residential, office, hotel and retail properties, Extell Development Company, consistently exceeds market expectations and delivers the dream behind each project.

Respected by the world’s leading architects and distinguished by innovative thinking, each property is meticulously designed, offering exceptional floor plans, finishes and amenities. Among Extell’s New York developments are the master renovation of an Upper East Side Classic, The Stanhope at 995 5th Avenue; 535 West End Avenue, the definitive Upper West Side address that honors the distinguished design of pre-war architecture; The Lucida, a new vision for modern green living on the Upper East Side; the Orion in the Theater District, one of Manhattan’s tallest residential buildings; Ariel East and West, two exquisite glass towers in the West 90’s; and Altair 18 and Altair 20, located in the historic Ladies Mile downtown district.

Extell is currently developing Riverside South. The Rushmore and Avery are the first of several residential buildings planned for this vibrant new Upper West Side neighborhood that fronts a 21-acre park stretching along the Hudson River.

Other notable projects are the award-winning redevelopment of the Insurance Exchange Building in downtown Chicago; The Belnord, a landmark, trophy residential building in New York City; the W Hotel in Times Square; and the luxury InterContinental Hotel overlooking Boston Harbor.