We’re checking in on the progress of Omnia Group’s new apartment building at 351-355 West 54th Street in Hell’s Kitchen.
Located between Eighth and Ninth avenues, the approximately 34,810-square-foot, seven-story development will rise on a 75′ by 100′ lot. Permits approved and issued December 2013 call for 33 apartments with limited parking and bicycle storage.
The in-progress building went on the market earlier this year with an asking price of $39 million, as we reported in February. The asking price is now $36 million, according to the Massey Knakal listing; the current owner has negotiated fixed price contracts, secured 421a tax abatements and will guarantee completion. The apartment interiors will have luxury finishes, floor-to-ceiling windows and Miele appliances, while amenities will include a gym, common roof deck and storage. Purchasers have the option of holding the property for investment as market-rate luxury rentals or selling the units as condominiums.
Northwind Group and Omnia purchased the lot, originally home to three contiguous two-story buildings, in 2012 for $8 million, according to Department of Finance records. The same year, the developer filed plans for partial demolition and a five-story vertical enlargement, with ND Architecture as the architect of record.
A condo offering plan was submitted in March and accepted in April. Construction is slated for completion in February 2015, according to on-site signage, which describes the project as commercial, for some reason.