Cary Paik bringing 11-story luxe condo to High Line

Developer-architect's 10-unit building is going up at 455 West 19th Street

TRD New York /
Sep.September 12, 2017 12:25 PM

455 West 19th Street (Credit: Google Maps via NY YIMBY)

Architect Cary Paik is well on his way to replacing a one-story project space formerly owned by the Robert Rauschenberg Foundation with an 11-story luxury condominium, after filing an offering plan with the New York state Attorney General’s office in late August.

Paik, who his both the architect of record and sponsor of the condo plan, aims to sell the project’s 10 apartments for a total of $77.5 million. The offering also includes 10 “other” units, but online filings do not give further details. Such units, however, could be anything from bicycle space to wine storage.

Paik obtained demolition and new construction permits for the development, which is next to the Chelsea High Line, last fall.

In 2014, the property at 455 West 19th Street sold to a “NYC Prince LLC” $22.5 million, in a deal that Cushman & Wakefield’s James Nelson said involved a “first-time buyer.” The following year, the developer, obtained a $19 million mortgage from Interaudibank for the property.

Nearby, Related Companies recently floated plans for a 180-unit Condo On 18th Street.  And on 10th Avenue between 17th and 18th streets, Ziel Feldman’s HFZ has 300 condo units under development.

Paik Architecture has designed dozens of loft residences in the city, including the eight-unit Van Wagner lofts in Long Island City.

The company did not immediately respond to an email seeking comment.


Related Articles

arrow_forward_ios
16 Sutton Place (Credit: Google Maps)

Sutton Place co-op in turmoil over terrace fees

Sutton Place co-op in turmoil over terrace fees
Molly Townsend (Getty, iStock)

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint
New home listings in Manhattan are up for the 4th week in a row. Contract signings, not so much. (Getty; iStock)

Manhattan resi listings are up while contracts “limp along”

Manhattan resi listings are up while contracts “limp along”
The process for challenging property assessments is so antiquated, officials won’t do Zoom meetings. (iStock)

“A recipe for disaster”: Fighting property taxes in a pandemic

“A recipe for disaster”: Fighting property taxes in a pandemic
102 Prince Street and Jho Low (Credit: Modlin Group; Low by Michael Loccisano/Getty Images for New York Times)

Jho Low’s former Soho condo sells at a discount

Jho Low’s former Soho condo sells at a discount
(Credit: iStock)

Loan applications to buy homes rise for fifth week

Loan applications to buy homes rise for fifth week
For the first time in six weeks, the number of Manhattan homes that went into contract increased. (Credit: iStock)

Manhattan home deals jumped 52% last week

Manhattan home deals jumped 52% last week
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
arrow_forward_ios

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

Loading...