KBS Capital

210 West 31st Street

Reveal for Two-Story, 30,000-Square-Foot Retail Building at 210 West 31st Street, Chelsea

A rendering has been revealed of the two-story, 30,000-square-foot commercial redevelopment in the works at 210 West 31st Street, located across the street from Madison Square Garden in Chelsea. KBS Capital, which is affiliated with California-based KBS Strategic Opportunity REIT II, and Onyx Equities are developing the project. It will include two floors of restaurant and retail space, in addition to a roof deck, Real Estate Weekly reported. The redevelopment consists of the West 31st Street section of the Church of St. John the Baptist, which Onyx is ground-leasing from the congregation. Demolition of that 23,110-square-foot section is anticipated in 2017, with completion of the new building in 2018.


210 West 31st Street

Church of St. John the Baptist To Be Converted Into 30,000 Square Feet Of Retail At 210 West 31st Street, Chelsea

KBS Capital has entered into contract with Onyx Equities to acquire an 80 percent stake in the Church of St. John the Baptist, a two-story, 23,110-square-foot structure at 210 West 31st Street in Chelsea. KBS and Onyx plan to convert the structure into roughly 30,000 square feet of retail space, The Real Deal reported. The space will be divided between three units, all with space on the ground floor and additional space on the cellar and second levels. A roof patio could also be constructed. KBS is set to pay $39.8 million for the stake. A timeline regarding the sale or construction has not been disclosed. Alteration permits have not been filed at this time.


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