Related Floats 180 Condos for High Line Project at 515 West 18th Street

After getting the nod from City Planning to expand the scope of development projects near the Chelsea High Line, Related Companies TRData LogoTINY filed a “test the market” application for 180 condominium units at 515 West 18th Street, New York Attorney General’s office records show.
Related previously filed construction plans for a 63-unit building at 501 West 18th Street. In December, Crain’s reported that the company would pay $5.8 million to the High Line Improvement Fund for the right to develop an extra 116,000 square feet, allowing for the construction of a separate, 22-story tower.

A spokesperson for Related confirmed that the 180-unit application would include condos at both the 501 and 515 West 18th Street developments. According to the City Planning documents cited by Crain’s, the two buildings, separated by the High Line, would be connected by retail running beneath. The total square footage from all the buildings is expected to total 430,000 square feet.

The application with the AG is just a feeler and is not a complete offering plan, so the unit count is subject to considerable change. No further construction plans have been filed, but in November Related filed a demolition application for an existing building at the 515 West 18th Street site.

Related paid a staggering $205 million for the site in 2014. The sellers were investors Barry Haskell and Matthew Resnicoff.

HFZ Capital is developing 300 condos nearby at 501 West 17th Street, and tapped Bjarke Ingels to design the $1.9 billion project.


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