The Sebastian has loft-like Chelsea condos on tree-lined block; Contract signed for $12M penthouse

By CityRealty Staff | From Future New York Wednesday, April 21, 2021

All renderings credit of Holliswood Development via @newdev_nyc Instagram

While Chelsea is no longer the clubby, affordable neighborhood it was 25 years ago, its tree-lined sidestreets have retained their historic charm despite mostly not falling under the jurisdiction of the Landmarks Preservation Commission. The lack of protection and looser zoning regulations than its Village counterparts have resulted in the production of hundreds of new housing units since 2000, creating one of the city's most vibrant mixed-use districts.

Adding to the residential mix is The Sebastian, a ground-up six-unit condominium at 214 West 15th Street composed of a collection of maisonette, full-floor, and duplex apartments priced from $5.5M. Last week, its 5-bed, 5.5-bath duplex penthouse went into contract with a most recent asking price of $12 million. If it closes near the sticker price, the unit will be Chelsea's second-biggest deal of the year.

June 2020 (CityRealty)

The Sebastian was brought to market by Holliswood Development and Firm Capital Corporation. In 2018, the team acquired the 25'x100' midblock site for $12.65 million. They soon after razed a pair of red-brick townhouses that served as a nursery school for the Archdiocese of New York since 1902. Building permits were filed in October 2018 and $21 million in construction financing was provided by Mission Capital Advisors.

The seven-story, 24,000-square-foot building was designed by KBA Architects with interiors by Raad Design Studio. Renderings show a handsome facade of light-colored brick, projecting window surrounds, and gridded oversized European windows. There will be planters and a metal canopy at street level. Full-floor units will have balconies, maisonette units have rear yards, and the penthouse has a private terrace.

All images of The Sebastian via Compass and Holliswood Development

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The Sebastian, #TH2 ($6.6M) Garden level

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Homes feature 10' ceilings, 7" wide white French oak floors, and custom-designed concrete and granite-clad fireplaces. Kitchen cabinetry was honed by Brooklyn-based millworker Pedemonte Woodworking and is complemented by Carrera marble countertops and backsplash. A full suite of integrated appliances includes a 48" Sub-Zero refrigerator and freezer, a 60-bottle wine cooler, and a Wolf range. Primary bedrooms feature two walk-in closets and an en-suite bath clad in Ceppo di Gre marble. Master baths feature both a floating tub and a walk-in shower. Shared comforts include an attended lobby with concierge services, a fitness room, a game room, a laundry room, and resident storage.

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The Sebastian is located between Seventh and Eighth Avenues near the junction of Chelsea, Greenwich Village, and the Meatpacking District. Google's New York headquarters, Chelsea Market, and the High Line are within close proximity. With more than a half-dozen subway lines a few steps from the front door, the location is convenient to Midtown, downtown, Brooklyn, and everything in between.

Since the knockout success of Greenwich Lane (St. Vincent's Hospital's replacement), the southern extents of Chelsea has made way for several high-end boutique condo developments. At the corner of Sixth Avenue and 14th Street, construction is nearing completion at 101 West 14th Street, an ODA-designed glass condominium featuring double-height living rooms and numerous private outdoor space opportunities. Grid Development recently sold out 126 West 16th Street where its 14 condos went from $3.795 million. Other new condos shaping up in the area include 251 West 14th Street designed by Isay Weinfeld, Forena designed by Morris Adjmi, and The Grid at 246 West 16th Street.

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