Chelsea's Carriage House, a nearly completed conversion of an old horse stable into a stack of 24 condos at 159 West 24th Street, found itself stalled back in 2009 when the economy hit the skids. But now it's showing signs of life. New permits plaster the plywood out front and a battalion of workers is busy inside the bricks. Previously filed paperwork at the Department of Buildings to "convert existing building to residential use" was recently re-activated by architect Michael Schmitt. Additional filings covering sprinkler modifications, structural work and boiler installation have also been updated. And to help keep this horse fed, some much needed cash has been added to the mix.
Just after the Carriage House added another floor and penthouse (and roses) back in 2008, the horse left the stable. There were defaults, threats of foreclosure and lawsuits. The building's website, still flying on a banner among the flower boxes above West 24th, has gone into cyber limbo and StreetEasy, where previous pricing ranged from $690,000 to $1,350,000, shows no active listings. But the mortgagor and mortagee kissed and made up in January, and developer Broad Mill Development Group obtained an additional $306,000 to get things moving once again. With spring on the way and buyers on the march, will designer Gustavo Martinez soon have the insides prettied up and ready to return to market?
· 159 West 24th Street [NYC Department of Buildings]
· Carriage House Chelsea coverage [Curbed]
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