Chelsea Arts Tower Developer Taps Lee & Associates for New Office Condo
Luxury commercial condo developer Jack Guttman is working through the design stages of an office condo in a Far West Side lot that’s at 630 West 52nd Street and 700 12th Avenue, the property’s leasing agents, Lee & Associates, announced today.
The eight-floor, 200,000-square-foot structure by the Chelsea Arts Tower owner and Kossar + Garry Architects will feature ground-floor retail, space for television studios on the second and third floor and offices up to a terraced seventh floor, which will be topped off with an event space, said Lee & Associates‘ exclusive broker for the site, Alan Weisman.
“As the Far West Side heats up, this will set the standard for new development in the area,” said Mr. Weisman in a prepared statement. “Setting up shop in this innovative development would be the ideal opportunity for a television network, an automobile showroom, a fashion designer and businesses in a variety of industries that want to make a statement in a rapidly rising neighborhood.”
Representatives for Lee & Associates declined to state asking rents on the building slated for the first part of 2016, but Mr. Guttman’s company, Chelsea Development Group, priced floors at their previous project at 545 West 25th Street at rates varying from $1,600 per square foot to $2,800 per square foot earlier this year.