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Is Verizon's Chelsea Building Going Condo?

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Verizon's 19-story 206 West 18th Street, built in the early '30s with a dash of Art Deco flair, is pretty darn nice as far as soulless phone company buildings go. That, combined with its plum Chelsea location, makes it a fairly obvious candidate for condo conversion, and that's precisely the theory a Curbed tipster is floating. He writes: "I heard that the Verizon Chelsea Building on 17th street and 7th avenue was sold to a developer this week. The rumor is that it's going mostly condo and some Verizon space will remain." We've left a message with Verizon's real estate office, and poor Intern Greg got nowhere with the person seated at the lobby desk yesterday, but here's what we know: According to online permits, Verizon has filed plans to subdivide the building into commercial condominiums. Gensler & Associates is the architecture firm listed. But there's more to this mysterious plot, junior detectives!

In December, an entity called 210 West 18th LLC (address: 445 Central Avenue, Cedarhurst, NY) paid Verizon just over $25 million for space in the building (which has an alternate address of 215 West 17th Street). Doesn't seem like the whole building traded hands, because that price tag sounds awfully cheap for an entire 19-story Chelsea building, and Verizon still needs plenty of space around town from which to continuously crush the spirit of its customers. Could a portion of the building be taken residential? We've seen such commercial/residential condo hybrids before, like at posh 15 Madison Square North. But while we await word on the building's fate, let's file under big fat rumor for now.
· Application Details: 206 West 18th Street [DOB]
· Sold: 210 West 18th Street [StreetEasy]
photo via PropertyShark

UPDATE: The 163-page declaration document filed with the Department of Finance is littered with references to residential units, and it looks like Verizon will be holding on to some of the bottom floors of the building. You can download this doorstop of information right here, but here's an excerpt describing possible building renovations: