Photo of the new building at 433 West 53rd Street via Emmut Properties
Late last year, we stopped by the midblock site of Emmut Development's ground-up rental complex at 433 West 53rd Street in Hell's Kitchen neighborhood. We last checked-in on the two-building development in January 2018 and now project is finally near completion. Late last month, it was announced Emmut received a shot of $32 million of senior financing from Berkadia’s Joint Venture Equity and Structured Capital Group.
Permits, approved in 2017, detail a pair of seven-story structures with 60 apartments split between 41,717 square feet. Emmut Properties' page on the project previously stated the first tenants are expected to be in by year-end of 2018. Apparent;y that deadline has been missed but with scaffolding down and the facade complete, occupany appears to be imminent.
Permits, approved in 2017, detail a pair of seven-story structures with 60 apartments split between 41,717 square feet. Emmut Properties' page on the project previously stated the first tenants are expected to be in by year-end of 2018. Apparent;y that deadline has been missed but with scaffolding down and the facade complete, occupany appears to be imminent.
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The buildings rise from a block-through property between West 53rd and West 54th Street between Ninth and Tenth avenues. The site once held the Red Zone nightclub, which the blog PAPER describes as "a cavernous place with shellacky walls and unctuous owners, desperately trying to cash in on the late '80s/'90s scene. But despite the presence of club kids and great DJs, it felt like more of a Dead Zone."
Queens-based Allen Shinfeld is the architect of record and renderings show the handsome structures will be connected with a central landscaped courtyard. Amenities will include a gym, roof deck, laundry room, and bike storage. There will be an average of four apartments per floor in each of the wings. Some of which will be duplex units.
The project stands close to a schoolyard-turned public playground at the corner of Tenth and 53rd Street. Not far from site is Griffin Court at 800 Tenth Avenue where condos sell at an average $1,354 per square foot. Also nearby is the two-tower rental Avalon Clinton where 25 apartments are available with studios starting from $3,079/mo, one-bedrooms from $3,685/mo, and two-bedrooms from $4,868/month.
Queens-based Allen Shinfeld is the architect of record and renderings show the handsome structures will be connected with a central landscaped courtyard. Amenities will include a gym, roof deck, laundry room, and bike storage. There will be an average of four apartments per floor in each of the wings. Some of which will be duplex units.
The project stands close to a schoolyard-turned public playground at the corner of Tenth and 53rd Street. Not far from site is Griffin Court at 800 Tenth Avenue where condos sell at an average $1,354 per square foot. Also nearby is the two-tower rental Avalon Clinton where 25 apartments are available with studios starting from $3,079/mo, one-bedrooms from $3,685/mo, and two-bedrooms from $4,868/month.
Avalon Clinton. South-facing apartments at 433 West 53rd St will have a similar view
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