Real estate and art collide at Village Green West: PHOTOS

Boutique development will ask up to $9M for penthouse units

New York /
Sep.September 27, 2013 04:25 PM

An eclectic mix of artists and real estate execs mingled last night over cocktails drunk out of plastic cups at a preview event for Alfa Development’s newest “green” project, Village Green West at 245 West 14th Street.

The evening was hosted by Gallery 151, an arts space on West 18th Street founded by Michael Namer, the CEO of Alfa and a personal art enthusiast. Namer caught the gallery bug after he happened upon a mural, thought to contain early work by street artists like Jean Michel Basquiat, Fab 5 Freddy and Futura 2000 while starting construction on another of his green projects, a 12-unit condo conversion at 151 Wooster Street, in 2007.

While the main gallery space played host to an exhibition of the work of photographer Sebastian Piras, a scale model of Village Green West took pride of place in an adjacent room. The 27-unit project at 245 West 14th Street, which recently broke ground, will likely begin rising next year, Namer said.

The one- and two-bedroom units start at $1.2 million and the full-floor penthouses start at $7.6 million. The largest penthouse in the building will be a four-bedroom, two-bathroom, 3,038-square-foot unit, which comes in at close to $9 million.

Namer, who appeared to be an insider among the artistic community, worked the room with the local artists and an array of brokers such as the Tamir Shemesh, Meris Blumstein and Kenny Blumstein, all of the Corcoran Group. The booming music filled the crowded room while guests nibbled on an array of salami, cheese and assorted finger foods.

Jim Brawders of Corcoran Group Marketing, who is leading sales at Village Green West, said the team has received numerous expressions of interest from prospective buyers since the offering plan was approved last week.

Alfa bought the development site for $14.65 million in October 2012 after its former owner, an investment group led by developer Offir Naim, defaulted on a $20.2 million note on the building, as The Real Deal previously reported.


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