Category Archives: Chelsea

Hudson Yards effect on nearby condo and rental buildings

As Hudson Yards continues it’s march towards completion in 2025 and many amenities are open or near open including the Culture Shed, and the Vessel, the development is effecting nearby development.

According to Real Estate Weekly, brokers in nearby developments- both rental and sale are seeing increases in activity. These new developments include 515 West 29th street aka Five One Five, a boutique condo building with 3 listings on streeteasy starting at $4.375 mm for an 1895 sqft(172m2) 2bd/3ba. Also listed on the same block is 550 West 29th street which features a 3290 sqft(306m2) penthouse with a huge outdoor space  in a 19 unit boutique building.

Neaby rental buildings are also seeing increased activity due to the influx of new commercial tenants to Hudson Yards. According to brokers representing those luxury rentals, some do not want to live exactly where they work but with a 5-10 minute walk and as a result are choosing nearby Hell’s Kitchen developments like Sky and The Oskar.

Mets pitcher Noah Syndergaard rents in Sky

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

 

Ariana Grande and fiance Pete Davidson purchase luxury apartment in West Chelsea

Ariana Grande and her fiance SNL’s Pete Davidson have purchased in the Zaha Hadid building in West Chelsea. The building is full of amenities including a private Imax Theater and skylit pool. There are 39 units in the building with 5 showing as active on listings site Streeteasy. Prices range from just over $5mm to over $13 mm for the available units.

This swimming pool in 520 West 28th street where Sting and Trudy Styler might run into their new neighbors Ariana Grande and Pete Davidson.
This is the gym in the Zaha Hadid West Chelsea new development

Full coverage

Sting rented an apartment in the same building

Sting rents a upper floor apartment in West Chelsea luxury building

The late Dame Zaha Hadid designed 520 West 28th street, is now home to Sting and his wife Trudy Styler. The Related building features a 75 foot sky-lit pool, spa, 24 hour juice bar and robotic parking. The West Chelsea building has 30 units and it appears that it is nearly sold out. Closings began mid 2017 with 6 apartments showing available on streeteasy from just over $5 million to $16 million. Two apartments are for rent- one for $15,750 and one for $26,000.

 

This swimming pool in 520 West 28th street where Sting and Trudy Styler have just rented an apartment.

NBC coverage

Listings in 520 W 28th street

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

What amenities generate the most buyer interest in Manhattan?

There are a variety of different amenities that you will see in Manhattan new developments ranging from movie theaters, and golf simulators to swimming pools, catering kitchens and shared outdoor spaces and even an occasional tennis court.

This swimming pool is a new construction condo in West Chelsea

According to Jonathan Miller or Miller Samuel Inc. there is a perception that more is better. From my experience, buyers look for what makes sense for their lifestyle. In a larger projects, you have more room for amenities. For example in Waterline Square on the West side of Manhattan, you have a shared amenity space called the Waterline club which includes a soccer pitch and a tennis court among the many amenities.

This is the gym in the Zaha Hadid West Chelsea new development

Within an apartment or townhouse, you look at the condition of the apartment including the finishes in the kitchens and bathrooms but also the details.

A renovated bathroom in a Harlem brownstone including a claw-foot bath
Having space to entertain is crucial for the most discerning buyer and having that space be usable.

What amenities do you think are most important to have in a building and within the individual apartment or townhouse?

Mansion Global coverage

Lowe’s to open first stores in Manhattan

According to CNBC, Lowe’s will be opening two stores in Manhattan in the next couple months. The first on Manhattan’s Upper West side will have a soft opening in the next few weeks and though about a quarter of the size of their normal locations, will feature lots of merchandise for Manhattanites. Shortly afterwards, their new Chelsea location will open up as well. The Upper West side location will be at 2008 Broadway in the ground floor of the Copley condo in a space formely occupied by Food Emporium.

This move comes roughly 10 years after Home Depot opened their two locations in the city. Expect urban merchandise like foldable brooms and lots of technology to showcase merchandise not found in the store.

Art goes big in Chelsea,NYC

Just as the Whitney inaugurated their new Chelsea home, several other art galleries are enlarging their spaces. Pace Gallery will move into a much larger space and Hauser & Wirth is also planning new building on West 22nd street. Rents have nearly tripled in the last 5 years according to the WSJ article.  Some smaller galleries have been priced out of the West Chelsea area and forced to relocate.

With the Highline and the many new luxury condos and rentals in and around it, the west Chelsea area has seen a spike in prices. Annabelle Selldorf, whose handiwork is on view in the luxury condo 200 11th ave, aka the SkyGarage, as well 10 Bond street in Noho, is designing the building for Hauser and Wirth.

Read the full WSJ article

261 W 25 street,NY,NY 10001 Construction update

The Seymour condo at 261 W 25 street will have 49 units almost all of which are in contract
The Seymour condo at 261 W 25 street will have 49 units almost all of which are in contract

According to Streeteasy there will be 49 units in this new construction condo on West 25 street and 47 of them are in contract. There are two remaining units- one priced at $3.195mm and the other at just under $4mm.

This building sold quickly as

The Seymour
The Seymour

a result of a good mix of smaller and larger units and at just under $2000 per sqft for this location, it’s not hard to see why it went so fast. The amenities include a resident’s lounge with fireplace, a garden, media room as well as a “quiet” library plus a roof deck with outdoor kitchen. The developer is the Naftali Group who is having a slighter hard time selling their Upper west side project at 261 W 77 street which they pulled off the market and will reboot shortly.