John Lam hotel to replace Chelsea flea market

Antiques Garage to close doors on June 29

TRD New York /
Jun.June 16, 2014 08:30 AM

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.

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


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Extell lands $690M refinancing package for One Manhattan Square
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Gary Barnett and 149 East 124th Street (Credit: Google Maps)

Extell’s plan for East Harlem development site revealed

Extell’s plan for East Harlem development site revealed
Gary Barnett, Central Park Tower, and the Tel Aviv Stock Exchange Bull (Credit: Wikipedia, iStock)

Extell’s Israeli bonds put on downgrade watch

Extell’s Israeli bonds put on downgrade watch
Clockwise from the top: 500 East 30th Street, 1 Ellis Street and 2555 Broadway (Credit: Google Maps)

NYC’s 10 biggest new real estate projects

NYC’s 10 biggest new real estate projects
One Manhattan Square’s adult treehouse (Credit: Extell)

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square
Extell CEO Gary Barnett and JPMorgan’s Jamie Dimon (Credit: Getty Images)

Barnett refis Diamond District assemblage with $340M loan

Barnett refis Diamond District assemblage with $340M loan
Gary Barnett and an aerial view of 2551 Broadway (Credit: Google Maps)

Extell proposes UWS mixed-use tower after completing assemblage

Extell proposes UWS mixed-use tower after completing assemblage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...