JJ Operating files plans to demolish 40K sf of retail in Chelsea

The Jemal family’s JJ Operating, on April 8, filed a permit application for the demolition of a two-story, 40,000-square-foot commercial building at 278 8th Avenue in Chelsea. The building spans a full block on Eighth Avenue between West 23rd street and West 24th street.

Per a report from Yimby, the store currently houses a Gap retail store, New York Sports Club facility, and a CVS pharmacy. The report included renderings for a 12-story commercial tower at the site. However, at the time of this report, no new building plans have been filed in either BIS Web or DOB NOW: Build.

The plans call for the demolition of the building.

The project is described in the filings as: demolition of entire building.

The property was acquired for $107.2 million on August 8, 2017. The family-led firm purchased the property from the John Q Aymar Corporation, a company affiliated with Midboro Management, according to a report from The Real Deal at the time. Signature Bank provided a $34 million loan to help facilitate the purchase.

Direct link to Acris document. LINK

Direct link to DOB document. LINK