Demolition permits have recently been filed for 322 West 15th Street, the former site of the Corlears School in Chelsea, in preparation for a luxury condominium to rise on the site. Public records show that developer Saffayeh Group bought the three townhouses that comprise the school for $19 million in May 2026, and Chelsea News reports that the sale comes at a time when the Corlears School plans to transition from K-5 to nursery and pre-K amidst low enrollment numbers.
Permits for the new building have not been filed, but a rendering from Z Architecture show a low-rise building with a tasteful pale brick facade and cornice, a double-height lobby, a garage entrance, oversized windows, and private balconies in select units. It also shows landscaping on the roof, though it is not clear whether this will be a common roof deck or just for penthouses.
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Residential amenities are not yet known, but one undeniable perk will be a desirable Downtown address. The site is located close proximity to Chelsea Market, popular dining and nightlife in both the Meatpacking District and Chelsea, the High Line, Jackson Square Park, and Google headquarters. The 14th Street A/C/E and L stop is at the end of the block.
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The new condo at 322 West 15th Street is one of several residential projects in the works for this section of Chelsea. A sales launch is on the horizon for 227 West 19th Street, and 246 West 18th Street, another boutique condominium, is taking shape nearby. 156-158 Seventh Avenue, the longtime home of gay bar Elmo, sold for $12.25 million in May 2026, and demolition permits for the one-story building were just filed.
Additionally, changes are afoot for the former Barneys flagship store in Chelsea, which closed in 2020 shortly after the company filed for bankruptcy. Flushing developer Raymond Chan purchased 115 Seventh Avenue for $22 million in January 2024 and announced plans to convert it to a luxury residential development with ground-floor retail space. Barneys briefly operated a department store on the first four floors of residential co-op 161 West 16th Street; developer Watermark Capital Group purchased the retail space July 2025 with plans to convert it to a 44-unit rental with ground-floor retail, but agreed to sell the property earlier this summer.
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Also of note, a state appeals court panel recently cleared the way for work to begin on a massive overhaul of NYCHA's Fulton and Elliott-Chelsea Houses. As part of New York City's PACT program, a partnership between NYCHA, Related Companies, and Essence Development plans to demolish the existing public house campuses and replace them with new mixed-income buildings with energy-efficient infrastructure, apartments with custom finishes and in-unit laundry, state-of-the-art residential amenities, and new community facilities.
Chelsea Listings
435 W19, #4C (Brown Harris Stevens Residential Sales LLC)
345 Meatpacking, #6C (Douglas Elliman Real Estate)
Abi Chelsea, #6S (Compass)
The Elisa, #10B (Serhant)
Linea, #PH (Corcoran Group)
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