Renderings revealed for High Line-adjacent condo on hot West Chelsea block
West 29th Street between Tenth and Eleventh Avenues is quickly becoming to Chelsea what Bond Street is to Noho–a delightfully concentrated mishmash of high-profile architecture projects. Over on the west side, this one-block stretch is already home to SCDA Architects’ Soori High Line with its noted private pools, Cary Tamarkin’s 550 West 29th Street, and Maestro West Chelsea, a 35-story trio of rentals. CityRealty now shares a look at the block’s newest project, a 10-story, 61-unit condo at 519 West 29th Street from developer Six Sigma, which is distinguished by a glass facade punctuated by rectangular balcony alcoves flanked with green walls.
Boutique design-build firm Six Sigma bought the site, currently home to a six-story storage warehouse, for $54.75 million in late 2015. As CityRealty notes, “Once demolition plans are approved, the site’s zoning regulations will allow for the construction of up to a 74,000 square foot building” that will have ground-floor retail.
Just yesterday, according to Mingtiandi, a trio of Shanghai-based private equity investors took a majority stake in the development. GEMA Capital Partners, with backing from Shanghai Prosperity Fund and with the assistance of Infinity Global Advisors, is strategizing to bring to the market smaller units than many nearby residential projects, aiming for a price point of $1.8 to $3 million.
Find future listings for 519 West 29th Street here.
[Via CityRealty]
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Renderings via Six Sigma
