NEW YORK | 131 W. 23rd St | 445 FT | 35 FLOORS

[chris08876]

Permits Filed: 131 West 23rd Street, 35-Story and 445-Foot Tower Coming to Chelsea

The Midtown South boom continues to echo into ever-taller echelons, and the first permits have been filed for one of the stretch’s more significant high-rises, coming to 131 West 23rd Street. The Chelsea Associates LLC is behind the new building application, which calls for a 35-story tower designed by Stonehill & Taylor.

Perhaps more notable than the floor-count are the height and number of units; the building will stand 445 feet to its pinnacle, making it quite distinctive on both the neighborhood and overall skylines. The residential component will measure 68,195 square feet, split between 21 apartments, translating into averaging units of over 3,000 square feet.

Another 143,808 square feet will be split between a retail component and a hotel, though the Schedule A is surprising, as it actually shows residential on the lower floors, with the hotel above. This would flip what normally occurs in New York City developments, as residential is typically placed as high as possible to maximize pricing.

The surrounding neighborhood is increasingly prime, and any tower stretching nearly 500 feet tall would be able to achieve astronomical price-points for residences on upper floors. Thus, the likely explanation is that the filings are “dummy” placeholders, with 131 West 23rd Street becoming another member of the Great Dummy Permit Frenzy of September 2014.

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http://www.yimbynews.com/2014/09/per...o-chelsea.html