Condos joining clubs on Chelsea block

A number of development sites on West 27th Street between 10th and 11th avenues in Chelsea are under negotiation or have been sold to developers who plan to build residences above the clubs that line the block. The 124,800-square-foot development site at 537-545 West 27th Street recently sold for $42 million to RD Management, and air rights could bring its total buildable square feet to 180,000. Other sites on the block that are in play include 530 West 27th Street, the former home of Spirit; 533-535 West 27th Street, which houses Scores West; and 505-507 West 27th Street, 521-523 West 27th Street and 504-524 West 28th Street, which can support up to 261,000 feet of development. more [Post]