GDS Development receives TCO for $57.9M condo project in Chelsea

Michael Kirchmann’s GDS Development, on October 1, was issued a temporary certificate of occupancy for construction of a 9-unit, 22,090-square-foot mixed-use condo building at 500 West 25th Street in Chelsea.

Condominium plans, CD180065 with Kirchmann as the sponsor, were submitted with the NYS Attorney General in 2018. The development currently has a sellout price of $57.93 million.

The DOB plans, pre-filed on July 19, 2016, call for the construction of a 125-foot tall, 10-story building. The time from pre-file to TCO was four years and three months.

The project is described in the filings as: filed herewith new building and installation of temporary fence.

the building has 1,851-square-feet of commercial space, which is broken into retail spaces on the cellar and ground floor level, according to the plans. In addition to retail space, the ground floor has a residential lobby. Floors two through eight each have one dwelling unit per floor, the second floor dwelling unit has a private terrace. The building’s last unit is a duplex apartment, the lower half of which is on the ninth floor and the upper half on the 10th.

GF55 Partners was the architect for the development.

The development topped out in April of 2019, with facade and exterior work wrapping up earlier this year.

The property was acquired for $16 million on September 8, 2016.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Direct link to C of O document.LINK