More ground-level intel from what we'll all probably be calling the High Line District before long: Construction is moving along at the Chelsea Arts Tower on West 25th Street. The crews are up to the sixth or seventh floor of a 20-story glass and concrete job, hoping for a spring '06 completion, and the sales site is crowing: "40% pre-sold!" This is that "art condo" project the Real Deal was trend-talking recently - Rent vs. Buy: Workplace Edition, if you will. As in: Life is short, art (gallery/office ownership) long. So you better like that serving of plum square footage you're getting. And don't go out on any hiring binges, either.
· Opportunities of owning the office [The Real Deal]
· Chelsea's Fine Art of Real Estate [Curbed]