209 West 14th Street is becoming the latest site to go from nonprofit to condos. (For those keeping track, news of two others joined the growing list yesterday.) Nonprofit FedCap Rehabilitation Services sold their four-story building to developer Adellco in May for $26.75 million, and now Adellco has revealed its plans to The Real Deal — luxury condos, of course. According to the company's executive vice president, the new development, designed by architects Goldstein Hill & West, will be either 11 or 12 stories, with 20 to 25 one- to thre-bedroom condo units. Demolition permits for the existing building were approved on Wednesday.
· Adellco enters crowded market with Chelsea condo building [TRD]