Hotelier Richard Born has been holding onto a development site on the northeast corner of 11th Avenue and West 23rd Street (not his only property in the neighborhood), but no lot in such close proximity to the High Line is likely to remain unused for long. And this one already has a next act in place, the Post reports. Investor Jonathan Leitersdorf is picking up the site (right, a Google Street View approximation), in a deal that's supposed to close sometime before August 2012. The plan: Chelsea Skybox, an event space and an unspecified number of luxury loft rentals. Price predictions, anyone?
· Loft-y Chelsea buy for Israeli investor [NYP]
· Chelsea Art Museum Won't Go Condo, Might Grow Up [Curbed]