Meridian Team Handles Auction of Chelsea Condo Project
Meridian Investment Sales has been retained in the bankruptcy auction of 435 W. 19th St., a mid-construction boutique residential condominium building in the West Chelsea neighborhood. Senior executive managing director David Schechtman and managing directors Lipa Lieberman and Abie Kassin are overseeing the sale.
Currently mid-conversion from a five-story office building, 435 W. 19th will feature 19 condo units across eight stories upon completion. The property features 50 feet of frontage along West 19th Street and average unit sizes of 1,400 square feet.
Consisting of one studio unit, 12 one-bedroom units, two two-bedroom units, and three three-bedroom penthouse apartments across 35,588 gross square feet, the condos are positioned to capture the growing demand for residential space in Chelsea’s budding west side, Meridian says. Investors can expect to achieve sellouts in excess of $2,000 per square foot when the finished property’s condo units hit the residential market, according to Meridian.
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