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128 West 23rd Street in Chelsea 128 West 23rd Street in Chelsea
Valyrian Capital has filed permits to build 15-story, 29-unit condominium at 128 West 23rd Street in Chelsea. The ground-up development will replace a 4-story walk-up that most recently housed the King David Gallery (Gallery 23 Inc.) which shuttered last year. The 25-foot wide site was sold for $4.05 million to 128 West 23rd Street LLC last year, according to city records. Last August, 6sqft reported a new building may be in the works for the site when a conceptual design of a 15-story passive house building emerged on CastDesignStudios' Architizer page.

Permits detail the building will rise 166-feet-tall and Kutnicki Bernstein Architects (KBA)are the applicants of record. A short description and a rendering recently posted on Valyrian's website says the project will encompass 50,000 square feet and contain 29 residential condominiums and one ground floor retail unit. There will be no more than 3 apartments per floor and amenities will include tenant storage, bike storage, and a common roof deck.

The New Canaan-based real estate investment and development firm has been busy with at least a half-dozen other residential projects around the city that include a new ground-up condo at 54 MacDougal Street in SoHo and the conversion of 28 North Moore Street in Tribeca.

The development will stand directly west of Anbau Development's Citizen condos at 124 West 23rd Street. Residences in that 29-unit building were quickly snapped up prior to and shortly after its 2012 completion. On a square foot basis, in 2013, studios closed for $1,343, one-bedrooms $1,332, two-beds for $1,779 and three-beds for $1,979. Its sole currently available unit is a 3-bed, 3-bath spread on the 15th floor with an asking price of $4.495 million or $2,220 per square foot.
Rendering via Valyrian Capital
The cream-colored walk-up at 128 W 23rd will be replaced by a 29-unit, 15-story condo. The project will stand directly west of the Citizen condos.
Google Earth Aerial View of the site looking south
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