Excavation has begun at 241 West 28th Street, the site of a 22-story, 479-unit residential project in Chelsea. Designed by COOKFOX for MAG Partners, Atalaya, Safanad, and Qualitas, the two-tower development is progressing due to $173 million in construction financing arranged by Maverick Commercial Properties. MAG Partners acquired the property, which is located between Seventh and Eighth Avenues, in December 2018 and established a 99-year ground lease with Edison Properties. Thirty percent of the residential units will be reserved for low- and middle-income households.
241 West 28th Street
A consortium of developers has successfully locked in $173 million in financing to construct a new 479-unit rental property in Chelsea. The new building will take shape at 241 West 28th Street, near Eighth Avenue, and is designed by COOKFOX.
Permits have been filed for an 11-story mixed-use building at 241 West 28th Street in Chelsea, Manhattan. Located between Seventh and Eighth Avenues, the through lot is four blocks south of the 34th Street-Penn Station subway station, serviced by the A, C, and E trains. L&L MAG is listed as the owner behind the applications.
The ubiquitous forest green fence, a herald of impending construction, has gone up around a mid-block parking lot in Chelsea, at 241 West 28th Street. The 29,326-square-foot, 150-foot-wide lot, which stretches between West 28th and West 29th streets, and will accommodate twin 15-story, 165-foot-tall buildings, each one aligned along its respective street. The 314,013-square-foot complex is set to feature a 6,094-square-foot commercial component topped by 252,191 square feet of apartments. Given its 323-unit count, each apartment would average 781 square feet. The project is being developed by Edison Properties, with Hunter Roberts Construction Group as the general contractor.
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…