In 2008, I predicted that West Chelsea would be one of the hottest new neighborhoods in the city. With the development of The High Line and all the construction activity – this was a no brainer. I also felt that West 19th Street would eventually become one of the most architecturally significant streets in Manhattan. Lined with residential buildings by Frank Gehry, Jeanne Nouvelle, Suga Ruban and Annabelle Selldorf, this prediction has become a reality. There was very little residential housing in the area and when I first met Annabelle Selldorf, she was not well known to the public. She was introduced to me in 2006 by John Jacobson, who, with his brother Keith and the City Investment Fund, developed 520 West 19th Street. This was the first residential condo project in West Chelsea and it was a huge success. Today, Annabelle is one of the most prolific and successful architects in New York and a household name. She was my first interview, and I thought it appropriate to review her interview for #throwbackthurdsay. I hope you enjoy it the second time around.
Great views are not always determined by how high in the sky you are–location plays a major part. Each neighborhood provides a different perspective on what makes New York City great, and sometimes things line up so that particular apartments reap the rewards. Here are some classic views currently on the market.
The Empire State Building, the Hudson River, Chelsea’s historic London Terrace towers and the newest New York City icon, the High Line park, are what you’ll find when looking out the windows of this Chelsea beauty, in an Annabelle Seldorf-designed building on the neighborhood’s “Architect’s Row.” Even traditionalists would appreciate the walls of windows that lead to views this good.
A sampling of last week’s press coverage of CORE and CORE properties.
New York Post
The High Line home at 520 West 19th Street listed by Emily Beare and David Beare for $6.875 million (above) was a “Dream Home” last week. The New York Post wrote, “Ideal for entertaining, this 3,353-square-foot, four-bedroom condo in a full-service boutique building on Architect’s Row (that’d be West 19th Street) serves up stellar views of the Hudson River, the High Line and the Manhattan skyline.”
“Condo Boards Take a Stand on Delinquencies”
New York Times
Elizabeth Kee commented on how co-ops and condos handle residents who are behind on their maintenance fees in the Real Estate section cover story in the New York Times over the weekend.
“One Rincon brings in reality TV stars to push penthouses”
San Francisco Business Times
Maggie Kent’s appearance in San Francisco to discuss her career and starring role on “Selling New York,” covered last week on the CORE Blog, also included a visit to a new luxury development.
One of the biggest benefits of a river view? You never know what will float by your windows. The much-publicized journey of the Space Shuttle Enterprise to its new home at the Intrepid Sea, Air & Space Museum included a float up the Hudson River earlier this week, where we spotted the retired spacecraft from the windows of 520 West 19th Street, recently profiled on the CORE Blog. Even seen-it-all New Yorkers couldn’t help but stop in their tracks to get a look at the Enterprise, and “space” meant something totally different around the CORE offices on this day.
We tend to mock dated real estate adages like “location, location, location,” but in the case of this sensational West Chelsea condo, those old words of wisdom ring true. Situated between the High Line and the Hudson River, with dramatic views of both, this 4-bedroom, 3,353-square-foot apartment is on West 19th Street’s “Architect’s Row,” featuring new buildings by Frank Gehry, Jean Nouvel, Shigeru Ban and Annabelle Selldorf, who designed this boutique condominium building to have floor-to-ceiling windows and a striking midnight blue terracotta façade.
The apartment is modern, fresh and contemporary, much like its neighbors and the surrounding art galleries of Chelsea. It’s also the rare new apartment that manages to be perfect for entertaining (with an open 40′ living and dining area) while not sacrificing any space for the bedrooms (the two master suites attest to that). While we recommend checking out the entire photo gallery, below is a quick peek at one of the views, of the High Line, Chelsea’s landmark London Terrace towers, the Empire State Building, and beyond.
The question we would all love to have the answer to is “where is the next hot neighborhood?” And, of course, I always hear my clients complaints that, “if only I had bought that site in Soho…or Tribeca… or the UWS… or Harlem… or Lower 5th… or the East Village…(you get the idea) before it got hot”. Over the past 15 years I have witnessed Manhattan’s luxury market shrink from many segmented luxury neighborhoods into almost one large luxury neighborhood. The Upper West Side has expanded to Midtown (thanks in large part to the Time Warner buildings). The delineation between Midtown and the Village (East and West) has been smudged, and everyone is watching to see how much luxury residential property can be absorbed in The Financial District. (I’ll discuss more of that in a future SO interview.)
What makes a neighborhood change? Something defining: a new Landmark… a slow expansion of a good neighborhood into a lesser neighborhood… a huge investment by a city agency… a new park… a change in zoning!
West Chelsea has a number of these elements.
In June, 2005, the City Council approved the Department of City Planning’s proposals for a zoning amendment affecting the West Chelsea area. This affected West 16th St to 30th St between Tenth and Eleventh Avenues. The Special West Chelsea District was created and provided opportunities for new residential and commercial development. Some of which is well underway. The high line park has started construction, after much deliberation, and will create a magnificent linear open park on the previous elevated rail line.
The bad news for a developer is… most of the developable land is already taken (Add West Chelsea to your list of complaints about where you should have bought.)
The good news for a condo buyer is… the neighborhood is in its infancy and is neighbored by prime Chelsea, the trendy meatpacking District, the Hudson River, and the High Line Park. Some of the most renowned architects in the world have started to help West Chelsea emerge as one of Manhattan’s most promising and desirable residential neighborhoods.
I was fortunate to talk with two of them: Annabelle Selldorf and Sara Lopergolo of Selldorf Architects.