RAPAPORT... Extell Development, the New York real estate company that is building the International Gem Tower (IGT) in Manhattan's diamond district, will begin selling smaller office suites. Buyers can choose to finish their space or select from five office layout options offered by IGT. Pricing of some of the finished units will start under $600,000 and will include built-out interior walls, finished floors and ceilings, interlock entry, closets, lighting, built-in furniture and mechanical equipment, including heating, ventilation and air conditioning systems.
Raizy Haas, the senior vice president of Extell, said, ''In response to demand, both locally and internationally, Extell has decided to develop a limited number of smaller office suites at the Gem Tower. We have met with many companies who wish to establish a presence in the building but are looking to purchase a smaller, pre-built space at a lower price point.''