One of two artist studio buildings in West Chelsea (the 2nd is 508-526 West 26th Street) vacated it’s tenants last August to make way for the future 19-story tower by developer Scott Resnick of SR Capital. In December, 547 W 21 (303 Gallery) was assimilated, either into this project or as an adjunct project by Sherwood Equities. The air rights from the adjacent ex-Chelsea Arts Museum were sucked into the development vortex a while back, sold by Albanese.

Interestingly, the building is shown on city Planning Board maps made during the rezoning of West Chelsea back in 2005. What’s going up across the street, where Guided By Invoices currently resides, remains to be seen.

 

Being outside the two M1-5 Gallery Districts enhances the mixed-use area well, and the almost 8,900 SF of retail space will be welcome, though galleries likely won’t be able to afford them, unless they can adapt. Demolition has begun.

Photo courtesy of The Real Deal.

Contact Earl if you want to know more. earl@nycspaces.com