Blackhouse, the New York City-based development firm with more than five properties across the city, is shooting for a High Line double play with Casa Moderne, the renamed luxury condominium development — formerly known as Casa Bella Artes — overlooking the elevated Chelsea park.
Blackhouse plans to break ground on Casa Moderne, at 534 West 29th Street between 10th and 11th avenues, in early 2014, with sales to start that May, the developer told The Real Deal exclusively.
Bullish on the area since its development of the Hotel Americano at 520 West 27th Street, which broke ground in 2008 and opened in 2011, Blackhouse told The Real Deal that it has long viewed the High Line as an international brand with growing momentum.
“The High Line links the Meatpacking District to Hudson Yards, establishing a mega Gold Coast within New York City’s residential real estate landscape,” Ashwin Averma, a principal at Blackhouse, told The Real Deal through a spokesperson. “Through this project and many others in our pipeline, we are orchestrating a new luxury real estate market in New York City for the global buyer.”
The all-residential property will have only six apartments spread across ten floors, a mix of customizable duplexes and triplexes, ranging in size from 1,500 to 3,000 square feet. Many of the units will have outdoor space including terraces and gardens, while the penthouse unit will have a roof deck with a pool.
The units range in price from $2,500 to $3,000 per square foot, pegging asking prices between $3.75 million and $9 million. The average in Manhattan currently runs at $1,379 per square foot for a condominium, according to a third-quarter Douglas Elliman co-op and condominium sales report, prepared by Miller Samuel.
Blackhouse said it plans to hire an outside marketing firm early next year to handle sales.
The company tapped design firm workshop/apd to handle the aesthetics. Blackhouse plans to use silvered glass to create a sense of depth in the vertical, slender property.
Casa Moderne joins Soori High Line at 522 West 29th Street, jointly developed by Blackhouse and Oriel, which, along with 534 West 29th Street, secured over $82 million in financing back in August.
The Soori Highline, designed by Singaporean architectural firm SCDA, will feature 27 condos – each with its own, private, in-apartment pool.