A former nonprofit building at 209 West 14th Street in Chelsea will give way to a yes-profit condo project.
Real estate owner and manager Adellco plans to build a development 11 to 12 stories high, with 20 to 25 apartments, The Real Deal reported. Located between Seventh and Eighth avenues, the residences will be a mix of larger one- to three-bedroom homes. Goldstein, Hill & West will design the building.
Nonprofit FedCap Rehabilitation Services sold the site to Adellco for $26.75 million, the New York Observer reported. Permits have been filed for the demolition of the existing four-story structure on the lot, which has about 100 feet of frontage on West 14th Street.