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John Lam hotel to replace Chelsea flea market

Antiques Garage to close doors on June 29

From left: John Lam And 112 West 25th Street
From left: John Lam And 112 West 25th Street

Antiques Garage, a 20-year-old flea market in Chelsea, is making way for a  new development.

The market, which was started in 1993 in A Parking Lot On West 25th Street between Sixth and Seventh avenues, will close on June 29. A new hotel by developer John Lam is slated to be built on the site, Crain’s reported.

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The majority of Antiques Garage’s vendors will move their operations to the West 25th Street Market, an outdoor space about half a block away, the flea market’s owner Alan Boss told Crain’s. Other vendors will relocate to a flea market in Hell’s Kitchen.

In 2008, the flea market was almost pushed out of its space due to rising rents triggered by the arrival of big-name retailers in the area. When the site was in danger of foreclosure last year, then-owner Extell sold the garage to Lam for $67.5 million. Retail rents along West 25th Street are between $75 and $90 a square foot, sources told Crain’s. [Crain’s] — Claire Moses

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Extell DevelopmentJohn Lam