A consortium of developers has successfully locked in $173 million in financing to construct a new 479-unit rental property in Chelsea. The new building will take shape at 241 West 28th Street, near Eighth Avenue, and is designed by COOKFOX.
Work is moving along at 500 West 22nd Street, an eight-story mixed-use project in Chelsea that YIMBY first reported on in late April 2016. Alternately addressed as 197 Tenth Avenue, the structure is designed by Union Street Studio LLC and developed by Brantwood Capital and will yield eight residential units. The building is located at the intersection of Tenth Avenue and West 22nd Street not far from the High Line, and will span 33,662 square feet with 1,959 square feet of retail space on the ground floor and cellar levels.
Construction is still stalled at 251 West 14th Street, an 11-story residential project in Chelsea. Designed by Isay Weinfield and FORM4 Design Studio PLLC, the reinforced concrete superstructure currently stands more than halfway to its pinnacle. Approximately four floors remain to be completed, including the upper portion above the setback that cantilevers over the adjacent western neighbor. Pizzarotti is in charge of the build, which is expected to yield a total of 25 condominiums.
The concrete façade of 532 West 20th Street has recently been revealed as the black netting and scaffolding was disassembled from the 11-story residential project in Chelsea. Designed by design-build firm DDG, which purchased the plot for $24.25 million in 2014, the structure will yield 27,019 square feet of residential space divided into nine apartments, averaging 3,000 square feet apiece.
Construction is still finishing up on ABI Chelsea, a 10-story residential building at 455 West 19th Street in Chelsea. Not much has changed since our last visit in late January, with construction entirely complete with the exception of the ground floor. The project, which is located between Ninth and Tenth Avenues, is designed by Lebanon-based Raed Abillama Architects with Paik Architecture as the architect of record. Developer Al Amir Holdings is expecting a projected sellout of $77.5 million. Douglas Elliman is handling sales and marketing for the residences, which are slated to range from $15 to $25 million.
