The Challenge
Any large-scale development in New York is a case study inperseverance and skill. The H23 condominium project, for which wewere the owner’s representative and development partner, consists of a17 story, 50,000 SF luxury residential condominium tower adjacent tothe High Line Park in West Chelsea. The building also has two retail spaces beneath the High Line, one with frontage on both W23rd Street and W24th Street. This complex project faced and overcame many challenges in its construction and successful opening.
The Solution
Logistics that we navigated included the negotiation and acquisition of the property, due diligence, environmental remediation, entitlements, obtaining fourteen zoning variances, gaining consensus with the Community Board, and negotiation of the sale of 100,000 SF of air rights. We also negotiated with the NYC Parks Service and the Mayor’s Office for the relocation of an elevator to allow access to the High LinePark.
During the design and construction phases, we managed the selection of Architect, Engineer and construction teams, and had responsibility of coordinating the entire project through completion.
The Results
70% of the units were sold at the project opening, and 100% were sold upon issuance of the Certificate of Occupancy. Sales prices were $3,000/ SF.
