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Development Du Jour: 120 Eleventh Avenue

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Location: 120 Eleventh Avenue (at West 20th Street)
Size: Five gigantic lofts, two triplex penthouses
Prices: $4.2 million to $6 million for the lofts; $17 million for each of the penthouses
Developer: Puissance Enterprises
Sales & Marketing: Elliman's H. Luchnick and Lida Drummond
Lowdown: If you've done any sightseeing along West Chelsea's Starchitect Row recently then you've probably noticed the old industrial building steps to the north of Jean Nouvel's Vision Machine at 100 Eleventh Avenue and Frank Gehry's IAC building. There, with a banner proclaiming "True Lofts" and a two-story rooftop addition under construction, is the seven-unit 120 Eleventh Avenue?offering something different for the High Line development boom: a little age! The building came to our attention via BusinessWeek's Hot Property blog, which focuses on the building's past as a gay club and candy factory (Life Savers were once made there). The units have been on the market for a month, and the apartment sizes are as eye-popping as the prices: the smallest checks in at over 3,313 square feet. All the luxury finishes are accounted for, and the building sports a daytime doorman and some one-year memberships to Chelsea Piers. Is there still a market for one $17 million West Chelsea penthouse, let alone two? That's a heck of a lot of Life Savers.

120 Eleventh Avenue

120 Eleventh Avenue, New York, NY 10011