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Thread: 120 Eleventh Avenue - Chelsea - Puissance Enterprises

  1. #1
    NYC Aficionado from Oz Merry's Avatar
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    Default 120 Eleventh Avenue - Chelsea - Puissance Enterprises

    WOW!

    120 Eleventh Avenue










    Location: 120 Eleventh Avenue (at West 20th Street)
    Size: Five gigantic lofts, two triplex penthouses
    Prices: $4.2 million to $6 million for the lofts; $17 million for each of the penthouses
    Developer: Puissance Enterprises
    Sales & Marketing: Elliman's H. Luchnick and Lida Drummond

    Lowdown
    : If you've done any sightseeing along West Chelsea's Starchitect Row recently then you've probably noticed the old industrial building steps to the north of Jean Nouvel's Vision Machine at 100 Eleventh Avenue and Frank Gehry's IAC building. There, with a banner proclaiming "True Lofts" and a two-story rooftop addition under construction, is the seven-unit 120 Eleventh Avenue—offering something different for the High Line development boom: a little age! The building came to our attention via BusinessWeek's Hot Property blog, which focuses on the building's past as a gay club and candy factory (Life Savers were once made there). The units have been on the market for a month, and the apartment sizes are as eye-popping as the prices: the smallest checks in at over 3,313 square feet. All the luxury finishes are accounted for, and the building sports a daytime doorman and some one-year memberships to Chelsea Piers. Is there still a market for one $17 million West Chelsea penthouse, let alone two? That's a heck of a lot of Life Savers.

    website, listings

    http://curbed.com/archives/2009/05/2...avenue.php?o=1

  2. #2

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    guess this isn't happening...
    Attached Thumbnails Attached Thumbnails Click image for larger version. 

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  3. #3

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    Are you sure it's the same building?

    The original building looks a little different, and it's strange that they would waste all that FAR.

  4. #4
    Disgruntled Optimist lofter1's Avatar
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    Definitely the same building -- note the Women's Detention center (Bayview Correctional Facility) to the south directly across W 20th Street.

    That image is from the Archi-Tectonics website and shows a proposal for the Spike Building at 120-126 Eleventh 545-547 West 20th. Design was by Winka Dubbledam for a 7-story glass addition with terraces, spas, roof garden.

    Too bad it didn't get built. It would have been a good match with Gehry's IAC, a set of bookends with Nouvel's "Vision Machine" in between. Far more interesting than a few huge boxes of otherwise great PH space.

    Current Architect Info from DOB:
    FILING HEREWITH TO SUPERSED ARCHITECT OF RECORD AND AMEND PLANS TO
    SHOW AS BUILT CONDITINS, AMEND SCH A
    OLD ARCHITECT: ANTHONY ROMEO, RA
    NEW ARCHITECT JON D LIBASCH RA

    NYC DOF shows that the developer, Puissance Enterprises LLC, obtained an additional $9.843 M Construction Loan in December 2008. Puissance (President: Giacomo F. Chico) bought the building in 2000.

    No Air Rights Sales from this building to a neighboring building are found at DOF. So the question remains why would the owner not max out FAR?

    btw: nyc.gov / DOF webpage has a cool (for wonks) Digital Tax Map finder for every block in NYC.

  5. #5
    Moderator NYatKNIGHT's Avatar
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    It's great if you live there, but construction has started, it's framed out, and from the street it's an inconspicuous boxy nothing so far, and certainly lost among the much more dazzling buildings nearby.

  6. #6
    NYC Aficionado from Oz Merry's Avatar
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    From Confectionery to Condos

    By IRWIN ARIEFF


    A SUGARY PAST
    A model bedroom at 120 11th Avenue, a new condominium complex at West 20th Street in West Chelsea. The building was once a Life Savers factory; there’s a two-story addition on the roof.


    STARCHITECT, schmarchitect. If big names have helped to brand more than a few high-end condominiums in Manhattan, the developers of one new luxury building, at 120 11th Avenue and West 20th Street, decided to buck that trend, opting instead to sink their money into a straightforward conversion of factory space.

    The result — seven sprawling lofts priced from $4.2 million to $17 million — went on the market in mid-May.

    Built in 1909, the building has a colorful past. It housed the Spike leather bar in the 1980s and ’90s, and mint Life Savers were packaged there from about 1913 to 1916, before the candy maker shifted operations to a factory in Port Chester, N.Y. That site itself converted into loft condominiums in 1984.

    The West Chelsea landscape is studded with names like Richard Meier, Frank Gehry, Jean Nouvel and Shigeru Ban. And when Gianfranco Chicco and Robert Chandler acquired the five-story building in 2000, “we thought, that is a kind of clever marketing thing, maybe we should look into it as well,” Mr. Chicco said. “And we did.”

    But the well-known architect whom they consulted — and whom they decline to name — pushed for a multistory tower that did not fit their vision of what they call “the original New York.”

    So the two men, whose main business is a health care public relations firm, the Chandler Chicco Agency, turned to Studio D+ Forum, which retained many of the original cast-iron columns, exposed brick interiors and dinged maple floors as echoes of the rooms’ industrial past. The only new exterior construction is a concrete roof, topped by a two-story addition that serves as the second and third floors of the two penthouses.

    Not that Mr. Chandler and Mr. Chicco rejected all symbols of contemporary luxe. The five apartments, with three or four bedrooms and two and a half or three and a half baths, range from about 3,300 to 4,000 square feet and offer Boffi kitchens, bathroom finishes by Ann Sacks, huge closets, direct elevator access, oversize windows and solid-wood pocket doors. Doormen are on duty during the day and via videocam overnight.

    The two penthouses have glass walls and each covers more than 6,500 square feet of space. The larger one — five bedrooms, six baths — opens onto a 1,821-square-foot roof garden, while the terrace of its four-bedroom, four-bath companion has 1,730 square feet. The terraces will be energy-saving “green roof” expanses covered with soil, grass and plants. The penthouses offer views of the Hudson River and the Empire State Building.

    Mr. Chicco and Mr. Chandler originally bought the building to provide new and bigger offices for their public relations firm. But they say the firm outgrew the space before it could be built. That’s when they formed a partnership called Puissance Enterprises to turn the building into luxury lofts, with ground- and second-floor commercial space. They moved into the penthouses eight years ago with their families, and will stay there until they are sold.

    The neighborhood is a bit of a grab bag. Just to the south is the Bayview Correctional Facility for women. South of that is Frank Gehry’s free-form IAC Building. To the north is a playground. To the east on 20th Street are art galleries, a Jehovah’s Witnesses Kingdom Hall, a stairway to the High Line and an emerging restaurant row.

    Across busy 11th Avenue is a bicycle path and the vast Chelsea Piers complex that stretch along the Hudson.

    The condos come with two one-year memberships to the Chelsea Piers gym. “Since we’re right across the street, it seemed like an ideal perk,” said Lida Drummond, a broker with Prudential Douglas Elliman who has the listing with Helene Luchnick.

    Ms. Drummond said it was too early to say if such an incentive, worth at most about $5,000, was having an impact on potential buyers contemplating a price tag of at least $4.2 million.

    Mr. Chicco and Mr. Chandler say they are able to be patient because of the strength of their principal business. The project’s greatest selling point is that the space is finished, Mr. Chicco said. “You see what you are getting,” he said. “You can feel the texture of the cast-iron columns.”

    Mr. Chandler added: “If you love the space, you’ll pay the price, and we have the luxury of time. Two years from now, ask us again. But I am looking at the markets every day, and there is strength there. The fundamentals are right.”

    As part of the deal, buyers who want to make a contract contingent on securing financing must work with the GuardHill Financial Corporation.
    GuardHill estimates monthly payments of around $15,000 to $15,750 for a 30-year adjustable-rate $3.5 million mortgage.

    Monthly property taxes plus common charges will run from $3,243 to $3,936 for the lofts and $6,352 to $6,466 for the penthouses, with 62 percent of that tax deductible, according to the developers.

    http://www.nytimes.com/2009/05/31/re...ref=realestate

  7. #7
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    Construction Watch: West Chelsea Penthouse Taunts Inmates

    September 14, 2009, by Joey


    We thought what made the conversion of 120 Eleventh Avenue into fancy residential lofts interesting was the building's past as a candy factory and gay club. Turns out, the future looks pretty darn fascinating as well. The penthouse addition to the West Chelsea building is coming along, which brings to focus an interesting situation: Ol' 120 Eleventh is separated from Jean Nouvel's Vision Machine by just one building. That building happens to be a women's prison. A women's prison whose rooftop recreation area has an amazing view of the 120 Eleventh penthouses' (there's two of them up there) wraparound terrace. Talk about a captive audience!



    For a look at the finished product, check out the penthouse rendering on the development's website, which makes no mention of the license-plate-pressing operation next door in the "boutiques" section of its neighborhood map.

    · Development Du Jour: 120 Eleventh Avenue [Curbed]

    http://curbed.com/archives/2009/09/1...ts_inmates.php

  8. #8
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    New 120 Eleventh Avenue Penthouses Hit the Market, With Views

    July 6, 2010, by Sara










    (click to enlarge)

    We haven't taken a look inside 120 Eleventh Avenue, the gay club turned Life Savers factory turned Lifesaver Lofts, since the rendering stage. The building's been keeping busy chopping prices. But now two new penthouses are on the market, PH6-and7A and PH6-and-7B (which we guess means construction up top is finished), and with their listings come some fresh shots of the West Chelsea Starchitect Row building that's gotten a bit less attention than its neighbors. The photos show a few of the neighborhood attractions: the women's prison that separates 120 Eleventh from the Vision Machine, and the backside of Nouvel's building, which is, er, slightly less visually appealing than the front. How much to look 100 Eleventh in the rear? $8.95 million. Or commit a crime, do some time, and look at two Starchitect Row buildings for the price of none!

    Lifesaver Lofts at 120 Eleventh Avenue [StreetEasy]
    120 Eleventh Avenue coverage [Curbed]

    http://ny.curbed.com/archives/2010/0...with_views.php

  9. #9

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    I read the state is going to sell the women's prison next door. Most likely will be converted to condos.

    I saw that the building next door to 120 Eleventh is being demolished, so I thought maybe the unused development rights would be transferred here. They're actually building some kind of commercial/art gallery builidng designed by Annabelle Selldorf. 89 feet tall accord. to permits; about the same height as the conversion next door with its new addition.

    http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01



    Owner name is DAVID ZWIRNER
    He was ranked #10 on ArtReview Magazine's list of most influential people in art.

    http://online.wsj.com/article/SB119212142369856161.html

    10. David Zwirner
    Gallerist, German

    David Zwirner's gigantic 19th Street gallery in New York's Chelsea is more like three galleries in one, which is apt, given that Mr. Zwirner himself has the air of someone three times as capable as your average dealer. The son of legendary Cologne dealer Rudolf Zwirner, he has inherited Zwirner pčre's talent and good taste (Rudolf Zwirner showed artists such as Warhol and Ed Ruscha in the 1960s), though the roster of the younger Mr. Zwirner, 42, suggests a greater affinity for formalism, and in recent years, painting -- with shows by Luc Tuymans, Lisa Yuskavage and Michaėl Borremans. Mr. Zwirner maintains partnerships in Europe, particularly with the Swiss gallerist Iwan Wirth, with whom he runs the uptown Manhattan gallery Zwirner & Wirth, an influential player in the secondary market.

    Mr. Zwirner's gallery began the year with an exhibition of large-scale sculpture by some equally large-scaled artists, including Franz West, Carl Andre and Mark di Suvero. Then came a parade of shows offering significant new works by Stan Douglas, Toba Khedoori and Francis Al˙s. But it is the strength of Mr. Zwirner's artists beyond the gallery walls that has propelled his operation to new heights. Isa Genzken represented Germany at the Venice Biennale and, two weeks later, opened an installation of her trademark umbrella sculptures at Skulptur Projekte Münster. The Leipzig painter Neo Rauch was commissioned to create and exhibit a suite of paintings for the Metropolitan Museum of Art (not the first institution that comes to mind when thinking about contemporary offerings); the elusive and indomitable Mr. Al˙s will have twin shows next autumn at the Dia Art Foundation in New York and the Hammer Museum in L.A.; and 2006 Turner Prize-winner Tomma Abts will be one of the first artists featured at the New Museum when it reopens in December in New York.

  10. #10
    Disgruntled Optimist lofter1's Avatar
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    DZ grew up around the corner from me. He's done very well for himself.

  11. #11
    Disgruntled Optimist lofter1's Avatar
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    The Zwirner gallery around the corner at 519 West 19th currently is showing an exhibition of photos by Philip-Lorca diCorcia.

    Here's one from September 2000 taken at WTC Windows on the World ...

    Click image for larger version. 

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    W, September 2000, #6

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