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Old Posted Jan 12, 2015, 10:53 PM
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Ziel Feldman's HFZ Capital is drafting provisional plans for the Chelsea tower





The design for the West Chelsea site which is currently vacant, will be inspired by One Beacon Court

NEW YORK DAILY NEWS
Monday, January 12, 2015

Quote:
Big time real estate developer Ziel Feldman wants to bring a little uptown chic to the High Line.

Feldman, whose company HFZ Capital is preparing to close on an $800 million deal to buy a whole square block development site in West Chelsea, said his plans for the property are inspired by One Beacon Court, the mixed-use tower often known as the Bloomberg Building at 151 E. 58th St.

The company is working on a concept for the site that would include a similar driveway-cum-courtyard as the one has become the defining characteristic of the 55-story Midtown tower, which was designed by architect Cesar Pelli and his son Rafael and has served as home to big name residents such as Flavio Briatore and Beyoncé.

The new "architecturally significant" 800,000-square-foot tower, which would occupy the block between 17th and 18th Sts. from 10th Ave. to the West Side Highway and could go as high as 400 feet, would include a retail component on the ground floors, a named brand hotel in the middle and condos up top, Feldman said of his plans, which are still provisional. It would be one of the tallest buildings in the neighborhood.

"We think this is the nicest piece of real estate in the city," Feldman said, noting that the hotel concept would likely be similar to the one that Larry Silverstein employed with the Four Seasons hotel at 30 Park Place in Lower Manhattan.

Feldman is buying the site from longtime owners the Edison family, who operated the site as a parking lot.

The median price for a Chelsea condo is currently more than $4 million, or $2,212 per square foot, according to listings website CityRealty. But if Feldman's tower truly has the same cachet at One Beacon Court, buyers could see prices drift as high as $6,000 a foot, sources said.

A penthouse at the Midtown building is currently on the market for a whopping $82 million.
http://www.nydailynews.com/life-styl...icle-1.2075121
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