Image via Google Maps shows 206 West 17th Street in 2016. Now, the handful of single and four-story buildings has been replaced by a short, glassy retail space.
Air rights can be bought by whoever values them the most. In most scenarios, that ends up being a developer, but that’s not always the case. The New York Times recently reported on a rather unusual deal made in 2016 when a group of Chelsea loft owners refused to let a proposed condominium tower obstruct their natural light and Empire State Building views. Instead, they came together and made a substantial offer to buy the air rights themselves: $11 million.
How much is a view worth?
Listing images by Tim Waltman
This “character-rich,” loft penthouse at 244 West 23rd Street offers stylish downtown living with a great Chelsea address that puts you right next to the Highline, art galleries, and everything else the vibrant neighborhood has to offer. But if you don’t feel like venturing out, there’s a huge library to keep you occupied. The one bedroom co-op filled with prewar details was recently renovated and just hit the market for $1.25 million.
East Village photo via Flickr cc; A-Rod photo via Wiki Commons
Just a few weeks ago, 6sqft reported that Yankee legend Alex Rodriguez had added his first New York City property to a growing real estate empire with the purchase of a 21-unit rental building in the East Village with fellow Shark Tank investor and real estate veteran Barabara Corcoran. The new partnership announced a plan to develop a portfolio of multifamily NYC buildings in undervalued neighborhoods. Now, the New York Post reports, the retired third baseman’s A-Rod Corp. has teamed up with real estate investor Ofer Yardeni of Stonehenge NYC and seasoned broker Adam Modlin of the Modlin Group to buy multiple apartment buildings and bulk condo units throughout the city.
Find out more about A-Rod’s new strategy
Image via Flickr
When Yayoi Kusama last took over David Zwirner Gallery with one of her Infinity Mirror Room installations in 2017, over 75,000 people flocked to experience the awe-inspiring (and very selfie-friendly) exhibition. At times during its 80-day run, the show was so popular that visits were limited to 60 seconds and wait times reached six hours. If you weren’t one of the lucky ones then, you’ll get another chance this fall when a new exhibition dedicated to the artist’s work opens at David Zwirner on November 9, as Time Out reported.
Photos by Travis Mark for Sotheby’s International Realty
Carriage houses are often unique to begin with, possessed of private garages in former carriage quarters. This gem at 313 West 20th Street in Chelsea has all of the carriage house perks (including the garage and tons of curb appeal), but at 25 feet wide, with a “secret” garden, two terraces, and a separate top-floor two-bedroom apartment, no living space is sacrificed. Asking $15.8 million, this turn-of-the-20th-century home has four stories, historic details, and every modern comfort including new double-pane windows and central air.
Carriage house tour, this way
A two-bedroom condo in Chelsea once owned by boy band star Lance Bass hit the market this week for $2.5 million, as first reported by the New York Post. Located in celebrity-magnet Chelsea Mercantile, the renovated condo loft at 252 Seventh Avenue measures just over 1,300 square feet. The NSYNC member bought the apartment for $1.49 million in 2010; current owner Ellen Kroner picked it up in 2013 for $2.13 million.
Take the tour
23rd Street subway station and Penn South, via Wiki Commons
Though it’s rare, the city does offer affordable apartments to purchase, and a new waiting list is now open for residences at Penn South, a limited-equity housing co-op (h/t Rachel Holliday Smith). The Chelsea development stretches between Eighth and Ninth Avenues from 23rd to 29th Streets and is comprised of 10 buildings and nearly 3,000 units. Though the complex was constructed almost 60 years ago, its location today is prime thanks to a booming Chelsea and proximity to Hudson Yards. Those who meet the income requirements can enter the 1,250-name waitlist for studios starting at $84,372, one-bedrooms from $101,247, and two-bedrooms from $151,870.
Find out if you qualify
Listing photo courtesy of Douglas Elliman; Photo of Parker Posey via Wiki Commons
Parker Posey certainly has good taste in real estate. She first landed on our apartment-porn radar for her chic East Village apartment, which she bought back in 2008. (The home is now owned by actor Alexander Skarsgärd.) She then dropped $1.35 million on a slightly more classic co-op in Greenwich Village. After personally modeling in the listing photos, she unloaded this apartment in 2016. We’re not sure where she’s been for the past three years, but as of this week, she is a proud new Chelsea resident. According to the Post, Posey dropped $1.5 million on this super-cute and character-filled duplex at 365 West 19th Street. Not only does it have charming details like a wood-burning brick fireplace and huge half-moon window, but there’s a private roof deck.
Have a looksie
Image via Flickr cc
The East Harlem-based culinary nonprofit Hot Bread Kitchen has opened a new pop-up space in Chelsea Market that will host a rotating cast of alums from its incubator program, which provides training and low-cost kitchen rental facilities to culinary entrepreneurs. Up first is Gorsha, a fast-casual Ethiopian restaurant from Hiyaw Gebreyohannes, which will take residence in the space through October 31st. As the WSJ first reported, this reflects a new trend among food halls who are offering rent-free spaces to food startups in exchange for fresh flavors and ideas.
The building at 450 West 15th Street is connected to Chelsea Market via a bridge; photo via Wikimedia
Google on Wednesday picked up a 325,000-square-foot building in Chelsea, adding to its ever-growing footprint in the Manhattan neighborhood. According to the Financial Times, the company bought the building at 450 West 15th Street from Jamestown Properties for $600 million. In addition to its headquarters at 111 Eighth Avenue, Google owns the apartment buildings across the street and the Chelsea Market building, which it bought last year for $2.5 billion. And the company will serve as the primary tenant at Pier 57, a mixed-use development on the Hudson River.
Get the details