The Real Deal New York

Chelsea church trades air rights for community center, condos

Deal means Einhorn Development can go higher up at 124 West 16th Street site

February 19, 2014 01:39PM

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124 West 16th Street, Chelsea

124 West 16th Street and David Howell

A six-story luxury condominium coming to Chelsea just got a little taller.

A church next to a development site at 124 West 16th Street owned by Einhorn Development Group sold its remaining air rights for an undisclosed amount, allowing the developer to add five floors to the original design.

Einhorn bought the site next to the three-story French Evangelical Church for $4 million in 2012 – and then demolished the 4,000-square-foot structure that stood there. He is now giving three luxury apartments and a 3,000-square-foot community room in the new building to the church in exchange for the air rights, according to DNAInfo.

The church’s owner is using the money to restore the building to its former nineteenth-century glory.

The new structure will offer 14 luxury condos and will be designed by DHD Architecture and Interior Design. Floor plans and renderings should be available in a few weeks, according to Valerie Einhorn, a spokesperson for the firm.

“Fitting in with our neighbors while still being distinctive is a wonderful design challenge which we take seriously,” Einhorn told DNAInfo. [DNAInfo] Angela Hunt

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