Centaur Properties to build Chelsea mixed-use complex

Site west of the High Line to hold 36 units across two structures
April 04, 2014 09:05AM

Centaur Properties has filed plans for a two-building, 96,000-square-foot mixed-use site in Chelsea, west of the High Line.

The developer paid $45 million for the block-through lot at 525 West 27th Street and 526 West 28th Street, between 10th and 11th avenues, last year. The 35,000-square-foot building currently on the site has housed various nightclubs, including Crobar and Pink Elephant. The city approved permits to raze that building in January.

The new property will hold 3,500 square feet of commercial space – both for retail and offices. The south building will rise 10 stories, while the north building will be 11 stories tall. They will collectively contain 36 residential units, either rentals or condominiums. The apartments will each average 2,500 square feet.

Given the zoning, a developer could have built an up to 144,000-square-foot residential building on the site. [New York Yimby]Mark Maurer