Our suspiciously-well-informed tipster was right on target. The former Dia Art Foundation building at 548 West 22nd Street is being converted to a residential/gallery hybrid building by architect Joseph Pell Lombardi. The Real Estate revealed the rendering (above) and filled in some details:
The existing 38,100-square-foot structure will house “high-end gallery space,” and an additional two and a half stories is slated for construction for 22,380 square feet of residential space. The gallery spaces will rent for $100 to $120 per square foot, and residential penthouses will rent at $75 to $90 a square foot. It's unclear whether any galleries have signed on yet, so there's still time for this building to transform from gallery space to a nice assortment of banks and frozen yogurt stores.
· Former Dia Space in Chelsea to Become Apartment-Gallery Hybrid [TRE]
· CurbedWire: 'The Pose,' More High Line Development, Crescent Club's Shame [Curbed]