- $1,300 per square foot
- 53 apartments
This ground-up development in Chelsea embodies a modern, sleek, yet warm aesthetic, while seamlessly integrating works by acclaimed contemporary artists.
After negotiating a ground lease for this corner property in Chelsea, Centaur razed several low-rise buildings on the site and designed and built a new 53-unit luxury residential building called 305W16. As the global economic crisis surfaced, Centaur was able to steer the project through an uncertain development cycle, and, anticipating a rebound in the Manhattan real estate market, Centaur switched the project from rental apartments to for-sale condo units. The apartment finishes were upgraded and the common areas were redesigned halfway through construction. All 53 apartments sold in less than one year for over $1,300 per square foot, and lucrative retail spaces on the ground level were leased to Bank of America and Duane Reade.
Centaur took a creative approach to 305W16, juxtaposing the building’s sleek hyper-modern exterior with natural wood elements. Artist Peter Tunney was commissioned to create site-specific collages on each floor, and a 40’ tall, 5,800-pound steel and porcelain daisy sculpture by artist Robert Buchholz was permanently installed on the residents’ roof deck – a striking work of art that is visible from the street and surrounding buildings in Chelsea’s gallery district. More than any new development, 305W16 embraced its surroundings and became part of the fabric of its neighborhood.