LCOR is planning to build a 37-story residential condominium tower on the west side of the Avenue of the Americas between 24th and 25th Streets.
The site is now occupied by a parking lot that had been used by Con Edison and a low-rise structure that will be demolished.
The new tower will contain 199 apartments.
It has been designed by SCLE Architects.
David Sigman, senior vice president of LCOR, told CityRealty.Com today that the project will have about 16,000-square feet of ground-floor retail space. He said ground should be broken for the project in about 60 days and that it should be completed next year.
Mr. Sigman said the development is "as-of-right," that is, within existing zoning and building regulations.
He said that its address will be 101 West 24th Street and that it will have a roof deck and catering and entertainment facilities for the residents as well as a basketball court.
The new tower will have a five-story base and many balconies. The north and south ends of the tower will be gently curved and faced with a gray-tinted glass.
LCOR, whose corporate office is located in Berwyn, Pennsylvania, has about $8 billion in developments completed, under construction or in pre-development and has developed more than 20,000 residential units and more than 16 million square feet of commercial space nationally.
The new project will join a phalanx of apartment towers that have recently transformed the city's former Flower District along the avenue in the heart of Chelsea. There is excellent public transportation in this area, which is close to the Flatiron District and Madison Square Park.
The site is now occupied by a parking lot that had been used by Con Edison and a low-rise structure that will be demolished.
The new tower will contain 199 apartments.
It has been designed by SCLE Architects.
David Sigman, senior vice president of LCOR, told CityRealty.Com today that the project will have about 16,000-square feet of ground-floor retail space. He said ground should be broken for the project in about 60 days and that it should be completed next year.
Mr. Sigman said the development is "as-of-right," that is, within existing zoning and building regulations.
He said that its address will be 101 West 24th Street and that it will have a roof deck and catering and entertainment facilities for the residents as well as a basketball court.
The new tower will have a five-story base and many balconies. The north and south ends of the tower will be gently curved and faced with a gray-tinted glass.
LCOR, whose corporate office is located in Berwyn, Pennsylvania, has about $8 billion in developments completed, under construction or in pre-development and has developed more than 20,000 residential units and more than 16 million square feet of commercial space nationally.
The new project will join a phalanx of apartment towers that have recently transformed the city's former Flower District along the avenue in the heart of Chelsea. There is excellent public transportation in this area, which is close to the Flatiron District and Madison Square Park.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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