From left: the Citizen, Barbara Van Beuren and Stephen Glascock of Anbau Enterprises and a full-floor unit at the building
The on-site sales office at the Citizen has reopened after its developer, Anbau Enterprises, took the unusual step this summer of suspending sales to finish construction, the company said today. Now complete, the 29-unit condominium at 124 West 23rd Street is nearly 50 percent sold. [more]
From left: Stephen Glascock of Anbau, Matthew Wambua of HPD and the Chelsea Citizen
Anbau Enterprises, the development firm behind the Chelsea Citizen, a new 16-story condominium project, has petitioned the New York State Supreme Court to intervene in its ongoing dispute with the Department of Housing, Preservation & Development. The developer, which is constructing the 29-unit project at 124 West 23rd Street, has asked the court to step in to ensure that it will receive the 421-A tax abatement it applied for in December but has since been denied by HPD. In court records, Anbau claims it has met all the requirements to qualify for the abatement. [more]
From left: Anbau's Stephen Glascock, Corcoran Group's Iva Spitzer and the Chelsea Citizen condo
Developer Anbau Enterprises suspended sales today at the Citizen, a 16-story condominium project in Chelsea, in order to complete construction over the summer, the company told The Real Deal. Stephen Glascock, president of Anbau, and Iva Spitzer, an executive vice president at the Corcoran Group, which is marketing the property, insisted that the unorthodox move was not motivated by construction delays or sluggish transactions. [more]
124 West 23rd Street
When its Chelsea condo hits the market next week, Anbau Enterprises will be the latest in a series of developers to eschew the trend towards ultra-luxury development and bank on (relative) affordability to sell units.
The Wall Street Journal reported that like Brodsky Organization’s 422 West 20th Street in Chelsea and John Buck Company’s Reade57 in Tribeca, Anbau Enterprise’s 124 West 23rd Street won’t feature the glass exteriors, extra frills, or super-luxurious amenities that characterized the city’s condo boom last decade. [more]
From left: Barbara van Beuren, managing partner, and Stephen Glascock, president, both of Anbau Enterprises, and the stalled condo at 124 West 23rd Street
Living in Manhattan practically forces residents to live cheek by jowl, and sometimes that proximity creates disputes that stand in the way of new residential developments. That appears to be the case with developer Anbau Enterprises’ planned 16-story condominium tower at 124 West 23rd Street, near Sixth Avenue.
Anbau filed a lawsuit Feb. 14 claiming Arthur Minerof, who indirectly owns the buildings on either side of the site, has effectively “paralyzed” construction by preventing workers from accessing his properties to install protective measures. The adversaries are gearing up to meet before a judge March 7, but in the meantime, the city’s Department of Buildings has ordered Anbau to stop some of its work. [more]
Anbau Enterprises paid $18.5 million for a parking lot in the Flatiron District, and plans to turn it into a glass condominium with a highly unique exterior that extends beyond the brick structures surrounding it, the Wall Street Journal reported. The land, at 39-41 West 23rd Street, was previously owned by Horizen Global, a small company with a pre-downturn plan to build a glass hotel by Cooper Square Hotel architect Carlos Zapata on the site. The design — which architecture scholar John Messengale compared to Gehry’s IAC building in Chelsea — prompted the local community board to request that City Planning not grant a permit for the building, which is located in the landmarked Ladies’ Mile Historic District…. [more]
Developer Anbau Enterprises broke ground today on the 16-story eco-friendly condominium it’s been planning for 124 West 23rd Street since before the market crashed. An exterior rendering of the project isn’t yet available, but the company, which has been behind projects like 110 Central Park South and Harsen House at 120 West 72nd Street, has tapped BKSK Architects to design a 34-unit building, complete with floor-to-ceiling windows and Juliette balconies. Scheduled for completion during the summer of 2012, the condo will have studios, one-bedrooms, two-bedrooms and penthouses as well as 4,000 square feet of ground-floor retail space. TRD… [more]
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