Here Comes Another Tower in New York’s Diamond District

Real estate tycoon keeps wheeling and dealing.

For the past few years, New York real estate magnate Gary Barnett has been charting a course to erect another building near his International Gem Tower in the Diamond District. That plan moved one step closer to fruition after his recent negotiation with two other real estate companies to take control of two properties at the northwest corner of Fifth Avenue and 46th Street, according to The Real Deal News. These deals pave the way for him to build another tower, the report adds, as they mark the latest moves in a string of transactions that have given him additional development rights in the area.

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