Basement work intensifies at 258-278 Eighth Avenue, site of a 14-story mixed-use project in Chelsea, Manhattan. Designed by FXCollaborative and developed by Alchemy-ABR Investment Partners and Chelsea 23rd Realty Corporation, an LLC affiliated with JJ Operating, the 173-foot-tall structure will produce 132,700 square feet with 190 rental apartments and multiple levels of commercial space on the lower floors. . Leeding Builders Group is the general contractor and Square Mile Capital and Pacific Western Bank provided $183 million in construction financing for the Midtown, Manhattan project, which is located along Eighth Avenue between West 23rd and West 24th Streets.
At the time of our last update in mid-January, the demolition of the former low-rise occupants of the plot was still in progress, with the structures standing two stories above street level. Excavation progressed rapidly over the spring and crews are now forming the reinforced concrete foundation walls and tiered foundation slab, with only a small amount of excavation remaining. Steel rebar protrudes where the columns and interior walls will soon be poured.
Several black steel frames were set up against sections of the foundation walls for temporary support. We could probably see the superstructure begin to rise above street level in a few months, followed by the building’s completion next year.
The following photos were taken in early June.
Below is an aerial photograph of the area in late April showing several excavators working behind the sidewalk fence.
The rendering in the main photo shows a relatively tall design clad in contrasting light and dark panels framing a staggered grid of floor-to-ceiling windows. A U-shaped setback around the middle of the building separates the podium from the upper floors, and a landscaped roof and mechanical partition rest on top. A pocketed open-air terrace sits behind a tall column at the northeast corner of the building.
However, our recent visit shows a different iteration depicted in a black and white elevation diagram of the main west facade.
This design closely resembles the wrap and indent layout in the following renders seen on loopnet.com. The webpage dates them to February 2021 and depicts Target anchoring the southern end of the ground floor, with smaller retail spaces to the north. Above are subtly recessed floor-to-ceiling windows arranged in an asymmetrical arrangement of rectangular and square cutouts. Dark mullions further divide much of the glazed area.
YIMBY last reported that the development would contain 33,000 square feet of ground and below-grade retail space, with Target occupying 28,000 square feet. Residential facilities will include a roof-level terrace, an additional outdoor terrace on the second floor, fitness center, common lounge, speakeasy, contactless elevator and lobby access, and bicycle storage .
258-278 Eighth Avenue is scheduled for completion May 16, 2024, as shown on the construction schedule.
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