Developer Centaur Properties is moving ahead with plans for a block-through site at 526 West 28th Street in West Chelsea.
The firm paid $45 million to acquire the property, which was home to a four-story, 35,000-square-foot building, The Real Deal reported. Demolition permits were filed September 11th for the existing structure, which used to host night clubs such as Pink Elephant and Mansion.
The seller, RN Realty, purchased the site in 1998, according to public records. The lot, located between 10th and 11th avenues, comes with almost 110,000 square feet of unused air rights. Centaur could build a residential development measuring up to 144,000 square feet as of right.
Centaur owns the McKittrick Hotel next door at 530 West 27th Street, according to The Real Deal. Previous residential projects by Centaur in the area include 305 West 16th Street, a 53-unit cond-op designed by SLCE Architects. The building, which sold out in 2011, was noted for its crowning 34-foot-high metal sculpture of three daisies. Like so: