Elijah Equities Brings The Warehouse in Chelsea to Full Occupancy

After sitting half vacant for several years, 520 West 20th Street in Chelsea, the office building known as The Warehouse, is now 100 percent leased after two new tenants absorbed two floors each, Commercial Observer has learned.

Cloud-based website builder Wix leased 24,500 square feet along the fourth and fifth floors at the redeveloped industrial building between 10th and 11th avenues, while Suno AI Music leased 26,176 square feet over the sixth and seventh floors.  

Sam Hoffman from Cushman & Wakefield represented Suno AI Music. Wix was represented by Rob Kluge and Brandon Charnas of Current Real Estate Advisors. The CBRE team of Paul Amrich and Neil King represented the building’s owner, Elijah Equities.

Asking rents and the lengths of the leases were unavailable, but prior asking rents in the building were in the mid-$100s per square foot. 

In 2020, the former four-story industrial warehouse was completely reimagined by Morris Adjmi Architects, which designed a three-story glass-walled addition that is cantilevered over the top of the brick building.

The fourth floor from the original building and the new glass addition on the fifth floor have been blended to create a 24,000-square-foot duplex office with a 7,000-square-foot wraparound terrace, while each floor retains unique traits of its own: exposed brick and polished concrete floors on the fourth floor, and floor-to-ceiling glass and an open floor plan on the fifth, according to New York Yimby.

The sixth-floor offices and seventh-floor penthouse suite feature designer finishes, restrooms made from Italian marble, and 15-foot ceiling spans.

The building also features a 7,000-square-foot landscaped roof terrace with expansive views.

Wix currently occupies 15,784 square feet on the ground floor of TF Cornerstone’s 95 Horatio Street, which it leased at the end of 2019.

In November 2021, the Mexican art gallery Kurimanzutto and the Los Angeles-based David Kordansky Gallery took space on the ground floor at asking rents of around $140 per square foot, according to reporting at the time in Commercial Observer. Kurimanzutto took 6,700 square feet for a bit over seven years, and David Kordansky Gallery took 5,500 square feet for 10 years.

The David Zwirner Gallery leased 36,000 square feet for 10 years for the entire second and third floors and part of the ground floor in November 2022, according to CO.

The parties either declined comment or did not return requests for comment.