Extell founder and Chairman Gary Barnett and a rendering of 570 Fifth Avenue. PHOTO: Fairchild Archive/Penske Media via Getty Images; RENDERING: Courtesy KPF

Gary Barnett’s Extell Development has finally hit landfall in his decade-long pursuit of owning the full block of Fifth Avenue between West 46th and West 47th streets.

Barnett plans to build a 29-story office and retail building anchored by Ikea along a stretch of Fifth Avenue. His plans can move forward after he paid what he calls a “stupid” $175 million to South Korean clothing manufacturer Sae-A Trading Company for the empty lot at 576 Fifth Avenue, the New York Post first reported.

It now appears that Barnett will be able to combine the lot with his own 574 Fifth Avenue to create the building at 570 Fifth Avenue. The sellers made about $74 million profit on the transaction.

“We paid a stupid price but it gives us the whole block, which is amazing,” Barnett told the Post.