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Struggling Chelsea Loft Building Undergoes Third Name Change

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Hop into our hot tub time machine and head back to the heady days of June 2007, when luxury real estate knew no bounds except what broker/marketer Michael Shvo cooked up. At 650 Sixth Avenue, an old Ladies' Mile landmark converted into 67 condos, it was white-box lofts described as "private galleries celebrating light and openness." There was a partnership with a local gallery to outfit the lobby and a cameo on a long-forgotten reality TV show. Then the world changed and the building was passed from Shvo to Corcoran to Elliman superbroker Leonard Steinberg, who spearheaded a softer image and an identity swap to 50 West 20th Street. To this day it looks like only about a third of the building has sold, and now the CORE Group is calling the shots. The 650 Sixth Avenue moniker is back, with an addendum: The Cammeyer. Third time's the charm?

As for other building news, a tipster writes, "Also note that they advertise 'dark walnut flooring' - a departure from the white floors they had pictured in the model unit. I wonder if any of the refurbished units are completed." Is the building getting a facelift (floorlift?) to help unload these leftovers? The CORE listings offer up no interior shots, but there's a resale on the market and it doesn't look very white-boxy, so maybe nothing's really changed. That 942-square-foot studio, by the way, sold for $1.237 million in 2008 and is now asking $1.1 million. CORE's five active listings range from $925,000 to $2.75 million, an average of around $1200/sq. ft. Maybe some serious PriceChopping would help this mission, but hey, there's that new rendering to pay for. Here's the old one, just cuz:


· Listing: 650 Sixth Avenue #5J [Sotheby's]
· New Developments: 650 Sixth Avenue [CORE]
· 650 Sixth Avenue coverage [Curbed]

The Cammeyer

650 6th Avenue, New York, NY 10011