Chelsea Riff Hotel to be replaced by 16-story condo building

The planned 60K sf structure would contain 80 units

TRD New York /
Aug.August 17, 2018 01:00 PM

Chelsea Riff Hotel at 300 West 30th Street (Credit: Google Maps)

Eastern Star Development pre-filed permits to replace the Riff Hotel at 300 West 30th Street with a 16-story condo building.

The Flushing-based firm plans to construct a 59,700-square-foot building with 80 apartments. The property will be divided between 54,700 square feet of residential space and 5,000 square feet of commercial space. Planned amenities include recreational spaces at the rooftop and the second floor and storage space at the cellar. If approved as proposed, the building would be 170 feet tall.

An investor group led by Eastern Star bought the hotel for $27.5 million in May. The previous owner, Salt Equities, retained ownership of the retail portion of the property, which accounted for half of the building’s value at the time of purchase. Eastern Star filed demolition permits for the site in June, and sources previously told The Real Deal that the developer was planning to construct affordable condos.

The firm, led by Anthony Hu, is currently building the Star Tower condominium at 27-27 42nd Road in Long Island City. Eastern Star has set a sellout target of $253.3 million for the 182-unit project, making it one of the priciest ever in the neighborhood.

College Point-based Studio C Architects is designing the project. Eastern Star did not immediately respond to requests for comment.


Related Articles

arrow_forward_ios
As widespread protests sweep the country, the real estate industry reflects on its decades-long support of the NYPD (Photo illustration by Alexis Manrodt for The Real Deal, Getty, iStock)

As Black Lives Matter protests rage on, NY real estate bleeds blue

As Black Lives Matter protests rage on, NY real estate bleeds blue
The construction, retail and restaurant sectors led May’s surprising jobs rebound, while the hotel industry continued to suffer. (Getty, iStock)

Construction, retail, restaurants lead May jobs rebound

Construction, retail, restaurants lead May jobs rebound
Mayor Bill de Blasio and Gov. Andrew Cuomo (Getty, Paul Dilakian)

Despite looting, NYC reopening on track: Cuomo

Despite looting, NYC reopening on track: Cuomo
(Photos by Sylvia Varnham O'Regan, Getty)

After looting, BIDs reverse guidance on boarding up stores

After looting, BIDs reverse guidance on boarding up stores
“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think
Clockwise from bottom left: Robert Reffkin of Compass, John Gomes, Scott Rechler of RXR Realty, Rich Barton of Zillow, Gary Keller of Keller Williams and Don Peebles of The Peebles Corporation (Getty)

“America is in crisis:” Real estate leaders address George Floyd protests

“America is in crisis:” Real estate leaders address George Floyd protests
A mass timber project in Cleveland is now under construction and could be the nation’s tallest when completed. Harbor Bay Real Estate Advisors’ Intro development will rise nine stories with 298 residential units (Credit: Harbor Bay Real Estate Advisors)

Mass timber project in Cleveland could be nation’s tallest

Mass timber project in Cleveland could be nation’s tallest
Joy Construction’s Eli Weiss (left), Maddd Equities’ Jorge Madruga (top), and Drew Katz with 20 Bruckner Boulevard in the Bronx (Getty; Google Maps)

“Dream” comes true for long-vacant Bronx ice house

“Dream” comes true for long-vacant Bronx ice house
arrow_forward_ios

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

Loading...