Below-grade work is ramping up at 258-278 Eighth Avenue, site of a 14-story mixed-use project in Chelsea, Manhattan. Designed by FXCollaborative and developed by Alchemy-ABR Investment Partners and Chelsea 23rd Realty Corporation, an LLC affiliated with JJ Operating, the 173-foot-tall structure will yield 132,700 square feet with 190 rental apartments and multiple levels of retail space on the lower floors. Leeding Builders Group is the general contractor and Square Mile Capital and Pacific Western Bank provided $183 million in construction financing for the Midtown, Manhattan project, which is located along Eighth Avenue between West 23rd and West 24th Streets.
At the time of our last update in mid-January, demolition of the former low-rise occupants of the plot was still ongoing, with the structures standing two stories above street level. Excavation progressed quickly through the spring season and crews are now in the process of forming the reinforced concrete foundation walls and multi-level foundation slab, with only a minor amount of excavation remaining. Steel rebar protrudes where the inner columns and walls will soon be poured.
Several black steel frames have been put in place against sections of the foundation walls for temporary support. We could likely see the superstructure begin to rise above street level in a few more months, followed by the topping out of the edifice sometime next year.
The following photographs were taken in early June.
Below is an aerial photograph of the area from late April showing multiple excavators working behind the sidewalk fencing.
The rendering in the main photo illustrates a relatively tall design clad in contrasting light and dark paneling framing a staggered grid of floor-to-ceiling windows. A U-shaped setback around the middle of the building separates the podium from the upper floors, and a landscaped rooftop and mechanical bulkhead sit on top. A pocketed open-air terrace sits behind a tall column on the northeastern corner of the building.
However, our recent visit shows a different iteration represented in a black-and-white elevation diagram of the main western façade.
This drawing closely resembles the envelope and setback layout in the following renderings seen on loopnet.com. The web page dates them from February 2021 and depicts Target anchoring the southern end of the ground floor, with smaller commercial spaces to the north. Above are subtly recessed floor-to-ceiling windows arranged in an asymmetrical layout of rectangular and square cutouts. Dark mullions further divide much of the glass surface.
YIMBY last reported that the development will contain 33,000 square feet of ground-floor and below-grade retail space with Target occupying 28,000 square feet. Residential amenities will include a roof-level terrace, an additional outdoor terrace on the second floor, a fitness center, a communal lounge, a speakeasy, touchless elevator and lobby access, and a bicycle room.
258-278 Eighth Avenue is slated for completion on May 16, 2024, as noted on the construction board.