Centaur Properties and Greyscale Development Group have acquired $115 million in construction funding to develop an 11-story, two-building residential and retail property with 36 units at 527 West 27th Street, in West Chelsea, per The Real Deal. YIMBY revealed diagrams in January, and Isay Weinfeld is designing the project, which is dubbed Jardim. Excavation has kicked-off, and completion is slated for the fall of 2016.
Earlier today, a new building application was filed for a 14-story mixed-use building at 142 West 29th Street, roughly halfway between Sixth and Seventh Avenues in Chelsea.
Curbed has the reveal for The Amirian Group’s planned 12-story, nine-unit residential building at 117 West 21st Street, in eastern Chelsea. The site is currently occupied by a four-story commercial structure, but the developer plans to expand upon the existing building rather than demolish it. GRADE Architecture is designing, and the developer acquired the site for $28.5 million in March.
The Fashion Institute of Technology has been granted $74 million from the de Blasio administration to build a 10-story, 100,000 square-foot complex connected to the Martin Feldmen Center on West 28th Street in Chelsea. Plans have been in the works for years, and construction is expected to kick off next year. SHoP is designing the project, reports Curbed.
After obtaining $1 billion in financing, HFZ Capital Group has closed on the development site at 76 11th Avenue, or 518 West 18th Street, in West Chelsea. The lot comes remediated and vacant, and it’s one of the most expensive acquisitions in New York’s history, according to The Real Deal, clocking in at $1,100 per square-foot.
