Almost 300 art galleries dot Manhattan’s Chelsea neighbourhood, and they are filled with some of the most important names in contemporary art. Visitors may find similar inspiration in the buildings rising above them.
Architecture practices from Frank Gehry and Jean Nouvel to Zaha Hadid and Norman Foster have Chelsea projects either on the way or completed. They include more than 11 developments in the planning stages or built recently, according to property-tracking company CityRealty. The neighbourhood, which covers less than a square mile, has one of the densest concentrations of new architecture and development in the US. “The sheer number of new projects is noteworthy but the boldness of the architecture makes this era of construction unique,” says architect Soo K Chan, principal of SCDA Architects of Singapore. He is behind Soori High Line, a 31-unit condominium where some apartments include saltwater pools.
“Art galleries are only part of Chelsea’s appeal,” says Julie Pham, a broker with Corcoran Real Estate. “The variety of new architecture is also a big draw for many buyers. Corcoran is marketing a seven-bedroom condo in Chelsea. The home is on the 19th floor of 100 Eleventh Ave, a tower designed by Nouvel, a winner of the Pritzker Prize. It has 360-degree views of Manhattan. “We’ve seen years of rising prices in Chelsea thanks to a lot of new construction,” says Robert Dankner, president of Prime Manhattan Residential. “That’s great for property owners but tougher for smaller commercial galleries and some homebuyers.”
“We’ve seen years of rising prices in Chelsea thanks to a lot of new construction,” says Robert Dankner, president of Prime Manhattan Residential. “That’s great for property owners but tougher for smaller commercial galleries and some homebuyers.”
“While the arts scene in Chelsea has helped fuel its rise, the High Line has added to the neighbourhood’s appeal,” says Andrew Azoulay, a broker with Douglas Elliman. “
(Source: www.ft.com)
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