We were initially impressed by Chelsea's Carriage House almost three years ago, when we first noticed the parking garage turned 24-unit condo. But then the project disappeared, resurfacing only to deal with lawsuits from lenders. Permits were finally reactivated and cash injected this spring, and now the Times reports that construction will be done next month. What will the long delay do to the building's pricing? Not much! Last time around, the units were asking between $690,000 and $1.35 million. This time, assuming the attorney general's office approves the condo offering plan, they'll start at $672,000 for a 560-square-foot studio, and the largest 2BR will be asking $1.9 million. The 2BR duplex penthouse doesn't appear to have made it to market last time around, but it will soon be asking around $4.3 million. Second time's the charm?
· Higher-Priced Developments Providing Parking [NYT]
· Carriage House coverage [Curbed]