Demolition is ramping up at 258-278 Eighth Avenue, the site of a 12-story mixed-use building in Chelsea, Manhattan. Developed by Alchemy-ABR Investment Partners and Chelsea 23rd Realty Corporation, an LLC affiliated with JJ Operating, which acquired the 40,000-square-foot parcel in 2017, the new building will yield multiple levels of retail space and 190 rental apartments. Breeze is the general contractor and Square Mile Capital and Pacific Western Bank provided $183 million in construction financing for the project, which is located along Eighth Avenue between West 23rd and West 24th Streets. The architect is still unknown.
Recent photos show the row of low-rise structures slated for demolition covered in black netting and scaffolding and their ground-floor frontage hidden behind the green wooden boards. We should expect everything to be torn down next month, as stated on the construction board posted on site, followed by excavation and foundation work later this year.
The main rendering shows a fairly tall building for the general vicinity, split between two interlocking volumes each clad in its own set of light and dark panels with a relatively uniform grid of floor-to-ceiling windows. A U-shaped setback divides the podium from the upper levels, and a landscaped rooftop and mechanical bulkhead caps the superstructure. It also looks like there will be an open-air terrace tucked within the perimeter columns of the building along the eastern side.
It was last reported that the new edifice would house a 28,000-square-foot Target on the lower levels. Residential amenities will include a roof-level terrace, an additional outdoor terrace on the second floor, a fitness center, a communal lounge, a speakeasy, and a bicycle room.
The completion date for 258-278 Eighth Avenue has yet to be announced.