This morning, a permit application was filed for a new 15-story building at 241 West 28th Street, mid-block in Chelsea between Seventh and Eighth Avenues.
The developer is Newark, N.J.-based Edison Properties, the parent company of the Edison ParkFast group of parking garages and lots (the site is currently home to an Edison ParkFast surface parking lot) and Manhattan Mini Storage. On their website, they appear to have a rendering depicting the project, albeit at low resolution and a few stories taller (we count 19) than indicated on the permit. The drawing shows a building partially stepped back above the 11th floor, recalling the loft and office buildings of Chelsea and the Garment District.
According to the permit, the project is planned to include 323 apartments spread over a bit more than 250,000 square feet of residential space, for an average unit size of 780 square feet – likely rentals, with no large penthouses (the top inhabited floor, the 14th, will include 14 apartments). While land prices today might force other developers to go condo, Edison has been assembling the property for 26 years, per their website, and therefore has a much lower land cost basis.
Also included in the project is 6,000 square feet of retail space, and a 65-car garage (no parking is required by code, Edison is, after all, a parking lot operator).
Contrary to an earlier report, the project will not require a rezoning. The M1-6D zoning allows housing development as-of-right where it does not displace significant amounts of non-residential uses, such as on the current surface parking lot.
Handel Architects is listed on the permit as responsible for design.
For any questions, comments, or feedback, email [email protected]