Brodsky’s latest Chelsea project 50% sold in one day

TRD New York /
Jan.January 23, 2013 04:23 PM

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.

After a soft launch in December, the units were snapped up quickly despite scant advertising: the building had a “teaser website” and a sign out front, but no other marketing, the representative said. Sales are now being handled by Corcoran Sunshine Marketing Group, the building’s sales office confirmed.

The building was previously part of the General Theological Seminary of the Episcopal Church, which occupies most of the block between Ninth and Tenth avenues between 20th and 21st streets.

Brodsky bought 455 West 20th, 422 West 20th, three nearby townhouses and the parcel of land on which the Chelsea Enclave sits, at 203 Tenth Avenue, for a total of $47.5 million in 2011, according to previous reports.

The development’s two adjoining buildings are connected by a glass atrium with a garden, and some original features from the seminary, which dates to 1836, remain, including exposed stone. It also features a fitness center, bicycle storage and communal garden, according to Streeteasy.com. The building is still under construction but should be complete late this year, per the representative.

Demand for the condos mimics that at another Brodsky development in the Chelsea area – 422 West 20th Street – which reportedly sold nearly 75 percent of its 38 units the first weekend sales launched last year. The spillover may have helped Brodsky market the latest project with minimal buzz. “They’ve been taking meetings since December,” the representative said. “It was a quiet thing; they weren’t marketing or anything.”

Remaining units range in price from $2.3 million for a one-bedroom unit to $6.5 million for a three-bedroom.

The development originally sported 23 units, but the penthouse buyer decided to combine the two penthouse units, the representative said. The resulting 3,800-square-foot penthouse unit has four bedrooms, four bathrooms, a rooftop solarium and two fireplaces, according to the listing.


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