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Chelsea Sky Galouse Lot Gets Zero Bids at Foreclosure Auction

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We're sad to consign the Sky Galouse, the DeArch Architects project proposed for 552 West 24th Street, to our "renderings that aren't happening" file, but for the moment, at least, so it must be. The site went up for foreclosure auction this week?where it didn't manage to get a single bid, Crain's reports, despite its location near the High Line. As a result, the property will head back to lender Paradigm Credit Corporation, with no definite word on what the company plans to do with it. Sources tell Crain's Paradigm will probably try to sell the site; the current owner filed for bankruptcy yesterday. You do hate to see that.
· Prime Chelsea lot draws no bids at auction [Crain's]
· 552 West 24th Street coverage [Curbed]

552 West 24th Street

552 West 24th Street, New York, NY