SEE ALSO: Developer Files Plans to Build Housing Above Williamsburg Trader Joe\u2019s<\/a><\/p>\n Extell\u2019s proposed 484,213-square-foot tower would consist of 300,859 square feet \u2014 or 130 units \u2014 of residential space, and 183,354 square feet of commercial space, according to the filing. The commercial space would be split up into a 159,097-square-foot, 156-key hotel, and 24,257 square feet of ground-floor retail space. There would also be 55 parking spaces on the building\u2019s second floor, as well as a 20-foot rear yard for the commercial portion of the building and a 30-foot rear yard for the residential portion.<\/p>\n In exchange for expanding its project at the property between West 55th and West 56th streets, Extell would \u201cprovide multiple transit improvements\u201d at the 1 Train subway station at West 50th Street and Broadway, the filing said. The upgrades would include \u201cconstructing elevators accessing both the southbound and northbound platforms\u201d and \u201cincreasing stair capacity at the station\u201d to improve accessibility.<\/p>\n \u201cThe proposed development will introduce new residential use in Midtown Manhattan, reinforcing the area\u2019s position as a premier global destination for living, working and visiting,\u201d Eli Kopciel, senior vice president of development and commercial leasing at Extell, wrote in the filing.<\/p>\n The proposed improvements to the subway station would result in an additional 118,796 square feet of floor area for Extell\u2019s development, as well as \u201cbolster\u201d the Metropolitan Transportation Authority\u2018s goal<\/a> of making 95 percent of the city\u2019s subway stations fully accessible by 2055, the filing said.<\/p>\n Extell bought the former Wellington Hotel site from BD Hotels LLC for $94.5 million in 2022 after the hotel closed during the pandemic, according to Crain\u2019s New York Business, which first reported the news<\/a>.<\/p>\n A spokesperson for Extell did not immediately respond to a request for comment, while a spokesperson for BD Hotels could not be reached for comment.<\/p>\n News of the project comes during a busy development period for Extell.<\/p>\n The developer is working on a major project at the former Walt Disney Company<\/a>-owned ABC television campus on Manhattan\u2019s Upper West Side. Barnett purchased the entire campus \u2014 which includes 141 Columbus Avenue, 155 Columbus Avenue, 77 West 66th Street, 30 West 67th Street, 47 West 66th Street and 7 West 66th Street \u2014 from Silverstein Properties in 2022 for a total of $931 million and plans to build new residential buildings, as Commercial Observer previously reported<\/a>.<\/p>\n Then there\u2019s also Extell\u2019s 29-story office and retail development at 570 Fifth Avenue<\/a>, which will be anchored by Ikea and is set to be completed by the end of 2028.<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/871-Seventh-Avenue-ZFA-7.-Drawings-9-10-25-credit-Beyer-Binder-Belle-via-Dept-of-City-Planning_WEB.j.jpeg\" "\\"Extell")
A drawing of the planned 71-story tower at 871 Seventh Avenue. DRAWING: Beyer Binder Belle via Department of City Planning<\/p>\n