$104M condo plan submitted in Chelsea

Churchill Real Estate Holdings submitted a condominium plan for a development with 60 residential units at 517-523 West 29th Street in Chelsea.

The property was purchased for $54,750,000 in 2015 by Six Sigma, according to city records.

The condo plan, CD210080, has a sellout price of $104,230,000 with the New York State Attorney General. Justin Ehrlich and Sorabh Maheshwari, both founding partners at Churchill, are listed as the principals of the sponsor.

In April of 2018, the developer filed new building plans with the New York City DOB calling for the construction of a 119-foot tall, 10-story, 49,375-square-foot residential building with 60 dwelling units at the property.

Initial foundation permits were issued to the developer in November of 2019.

Rand Engineering and Architecture is listed as the architect. Per a report, Ben Hanson Architect is designing the development.

According to a Yimby report, the building is expected to be completed in April 2021.