Chelsea “asylum” to become luxury residences

The buyer who recently closed on a former church-run asylum in Chelsea is tearing down the building and developing a six-story residential building, Manhattan Loft Guy reported. Last month, an LLC that records show is based out of Rhinebeck, N.Y. closed on the $4 million purchase of 124 West 16th Street. The three-story structure was sold by the French Evangelical Church of New York, which had used it as a “miscellaneous asylum and home,” according to Streeteasy.com.

But the new owner filed plans to demolish the existing 4,000-square-foot building and replace it with a six-story, 12,643-square-foot structure with six floor-through units, Department of Buildings records show. The plans were designed by David Howell of DHD Architecture Design and are awaiting approval.

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Manhattan Loft Guy said the same developer previously worked with Howell on a five-story codnominium conversion at 225 East 24th Street in 2007. A 3,600-square-foot unit in that building was sold in December for $3.84 million. [Manhattan Loft Guy via Curbed]