The Real Deal New York

Posts Tagged ‘general theological seminary’

  • From left: a rendering of the exterior of 455 West 20th Street and the atrium lobby

    While sales officially launched only yesterday at the Brodsky Organization’s 455 West 20th Street development in Chelsea, half of the 22 units are already in contract, including the $12.6 million penthouse, a representative for Brodsky confirmed to The Real Deal today. [more]

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  • Daniel Brodsky and 422 West 20th Street

    Betting on the appeal of low-priced Chelsea condos, the Brodsky Organization is taking the unusual step of launching sales in the latest phase of its General Theological Seminary condo conversion with an open house next weekend.

    The Wall Street Journal reported that the 38-unit condo, at 422 West 20th Street, will have one- to three-bedroom units ranging from $640,000 to $2.1 million. [more]

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  • From left: Daniel Brodsky and the Desmond Tutu Center (building credit: PropertyShark)

    Developer Daniel Brodsky is in talks to buy a third Chelsea building from the General Theological Seminary, the New York Observer reported. Having already acquired two buildings along West 20th Street between Ninth and 10th avenues, Brodsky is nearing the acquisition of the Desmond Tutu Center, a 50,000-square-foot facility with 60 hotel rooms and two conference rooms at 180 10th Avenue, between 20th and 21st streets. [more]

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  • The General Theological Seminary, an episcopal seminary in Chelsea, has sold another building to the Brodsky Organization, Curbed reported. The religious organization has been in the process of selling a number of buildings to the developer to convert to luxury condominiums since 2010, when it encountered financial trouble.

    The seminary just sold 445 West 20th Street, between Ninth and 10th avenues, to Brodsky for $18.5 million, according to city records. It was not immediately clear what the exact plan for the building was. [more]

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  • The Brodsky Organization will soon begin the second part of its construction and renovation project for the buildings it purchased from the General Theological Seminary, according to Chelsea Now.
    The developer has already completed renovations on two residence halls and three townhouses, and the second phase will begin with the renovation of a building across the street from the Seminary, at 422 West 20th Street. The façade of the building will be cleaned and the front door and light fixtures will be replaced, according to Daniel Brodsky, managing director of the Brodsky Organization. When those minor renovations are complete, work will begin on the interior of the building, with the property’s conversion to a condo…. [more]

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  • An architect has revealed plans for the redevelopment of a two-century-old Chelsea seminary. The General Theological Seminary, at 440 West 21st Street, is to be revamped after significant debt forced it to sell portions of its campus to developer the Brodsky Organization, according to DNAinfo.

    Brodsky’s lead architect John Beyer, of Beyer Blinder Bell Architects and Planners, unveiled plans for two buildings, one on a segment of the school yard and another, the historic West Building.

    Community board members objected to some elements of the plans which include two duplex apartments raising higher than the rest of the six-story West Building and elevator equipment on the roof. They did, however, appreciate Beyer’s attempts to incorporate details reminiscent of the rest of the campus’ character…. [more]

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  • The last two units at the Brodsky Organization’s Chelsea Enclave cond-op have gone into contract, wrapping up a three-year sales effort that began on the same September 2008 morning that Lehman Brothers Holdings collapsed, the Wall Street Journal reported. According to Corcoran Sunshine Marketing’s James Lansill, who was heading up sales there, the building is the first large Manhattan project to sell out after coming online in the post-Lehman Brothers real estate market, and did so by cutting prices early and across-the-board. … [more]

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  • General Theological Seminary at 175 Ninth Avenue

    General Theological Seminary at 175 Ninth Avenue in Chelsea is trying to rid itself of $41 million in debt and is attempting to replenish its depleted endowment fund through a plan to sell land and several of the seminary’s historic properties to a developer, who intends to convert those buildings into a condominium, according to the Wall Street Journal. “It hurts a lot of our trustees to sell any of our real estate,” Lang Lowrey, president of the seminary, told the Journal. “But we are getting a really good value.” The Brodsky Organization has agreed to pay $47.5 million for three buildings and a parcel of land currently used as tennis courts…. [more]

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  • A Department of Buildings ruling in favor of the General Theological Seminary at 180 10th Avenue is riling neighbors, who contend that it stretches the law and sets a dangerous precedent by operating a commercial hotel out of its conference space. After a long-time dispute between the seminary and community members, the DOB ruled in November that the center could continue to run the hotel out of its Desmond Tutu Conference Center courtesy of a temporary certificate of occupancy. But, despite its claims that it is mostly using the space as a haven for conference attendees, neighbors now say that the seminary has been advertising rooms for the space on popular vacation Web sites like Expedia.com and Hotels.com, opening up the facility to tenants unaffiliated with conferences or events at the space.

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