The Real Deal New York

Lalezarian plans 59K sf Hudson Square rental building

Developer bought two four-story structures at the site for $4M in 2010

November 05, 2015 12:05PM
By Ariel Stulberg

Kevin Lalezarian

From left: Kevin Lalezarian and a proposed rendering of 100-102 Chartlton Street in Hudson Square

Lake Success, N.Y.-based Lalezarian Properties filed a permit application to build a 61-unit rental building at 100-102 Chartlton Street in Hudson Square.

The new 59,000-square-foot building between Greenwich and Hudson Streets will replace two four-story rental buildings at the site.

All the units will be rentals, Kevin Lalezarian, the firm’s owner and president, wrote in an email.

The structure will have two apartments on its second through sixth floors, three on the seventh floor, five each on the eighth through 12th floors, four on the 13th floor, five each on the 14th and 15 floors and four more on the 16th. The top four floors will each house just one penthouse unit each.

The building will also feature a rooftop terrace and a recreation room on the first floor, according to the permit application.

Ismael Leyva Architects is designing the new building.

Kevin Lalezarian, the firm’s owner and president, acquired the property in 2010 for the bargain-basement price of $4 million. Last year, he sought to sell the existing buildings – which house 16 rental units a piece – for a steep profit, asking $50 million. The area was rezoned in 2013 to allow for more development.

The developer filed demolition permits last month for the two buildings.

Lalezarian is also developing three rental projects in the High Line area, at 10th Avenue between 28th and 29th street. The buildings will house 374 units in total, and are slated to be finished in early 2016.