Alchemy Properties

Demolition Begins at 123-141 West 57th Street for 26-Story Office Tower in Midtown, Manhattan

Demolition is underway at 123-141 West 57th Street, the site of a forthcoming 26-story, 185,000-square-foot office tower along Billionaires’ Row in Midtown, Manhattan. The site is located between Sixth and Seventh Avenues, surrounded by Christian de Portzamparc’s One57 and SHoP Architects‘ 111 West 57th Street. It was recently reported that Alchemy Properties and ABR Partners closed a $120 million deal to purchase the property, which was owned by Calvary Baptist Church and includes the adjacent 16-story, 153-foot-tall Salisbury Hotel. ABR Partner’s equity partner, Cain International, had brought on Security Benefit Life as the new lender. The total construction cost for the project is estimated to be roughly $350 million.

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378 West End Avenue’s Brick Façade Take Shape on Manhattan’s Upper West Side

Exterior work is progressing on 378 West End Avenue, an 18-story residential development on Manhattan’s Upper West Side. Designed by COOKFOX and developed by Alchemy Properties, the project incorporates the restoration of the adjacent 1915 Palazzo-style building at the corner of West End Avenue and West 78th Street, and will yield 58 units with sales and marketing led by Alchemy Properties and Compass. Homes will be available in one- to six-bedroom spreads and a collection of penthouses, with prices ranging from $1,795,000 to nearly $10 million. Leeding Builders Group is the general contractor for 378 West End Avenue, which is located along West 78th Street between West End Avenue and Broadway.

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Rendering of 258-278 8th Avenue - Courtesy of JJ Operating

Lenders Confirm $183M Financing Package for 258-278 Eighth Avenue in Chelsea, Manhattan

Square Mile Capital and Pacific Western Bank are set to provide $183 million in construction financing for a 12-story mixed-use property at 258-278 Eighth Avenue in Chelsea, Manhattan. A new Target retail store will occupy 28,000 square feet of the building’s lower levels. Above these floors, the development will house 190 rental apartments and associated amenities.

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COOKFOX’s 378 West End Avenue Progressing, Sales Launch, On Manhattan’s Upper West Side

Sales recently launched for 378 West End Avenue, and the brick exterior for COOKFOX’s topped out 18-story project is quickly rising. Alchemy Properties is developing the Upper West Side residential complex, which incorporates the adjacent restoration of a 1915 Palazzo-style building located at the corner of West End Avenue and West 78th Street, and sits to the north of the abutting Collegiate Church. Inside 378 West End Avenue will be 58 one- to six- bedroom residences, including a collection of penthouses with pricing upon request, pre-war proportions, high ceiling heights, and oversized windows. Prices for one-bedrooms start at $1,795,000, two-bedrooms for $3,525,000, three-bedrooms for $5,550,000, four-bedrooms for $6,995,000, and five-bedrooms for $9,895,000. Alchemy Properties and Compass are working together to market the condominiums.

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View of 125 West 57th Street prior to the erection of existing sidewalk sheds (via Google Maps)

Permits Filed for 26-Story Building at 125 West 57th Street in Midtown, Manhattan

Permits have been filed for a 26-story mixed-use building at 125 West 57th Street in Midtown, Manhattan. Located between Sixth Avenue and Seventh Avenue, the lot is steps away from the 57th Street subway station, serviced by N and Q trains on Seventh Avenue and the F train at the 57th Street station on Sixth Avenue. Alchemy-ABR Investment Partners is listed as the owner behind the applications.

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