Timber Equities files plans for 2 buildings with a total of 197 units in Chelsea
335-345 West 25th Street (Credit - David West architect via DOB)
Timber Equities filed plans for two adjacent new construction buildings in Chelsea, Manhattan, that call for a total of 197 units, in two separate applications.
In the first, Timber Equities submitted a new building construction project for a 98-unit, 98,047 square-foot residential (R-2) building at 345 West 25th Street in Chelsea, Manhattan. The plan was filed with the New York City Department of Buildings on November 5, 2025 under job number M01305858. It calls for the construction of a 14-story building. The project is described in the filing as: construct new 14 story residential building as per plans filed. Mitch Perle, under the name Michel Perle, a principal at Timber Equities, filed the plans. The architect is Hill West Architects.
In the second, Timber Equities submitted a new building construction project for a 99-unit, 98,551 square-foot residential (R-2) building at 335 West 25th Street in Chelsea, Manhattan. The plan was filed with the New York City Department of Buildings on November 5, 2025 under job number M01305839. It calls for the construction of a 14-story building. The project is described in the filing as: construct new 14 story residential building as per plans filed.
345 West 25th Street
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | Cellar | THREE (3) ACCESSORY RECREATION ROOMS TO DWELLING UNIT ABOVE - NO LIVING, OR SLEEPING AT THIS LEVEL | Apartment | N/A | Residential | ||
| 2 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | Cellar | GAS METER ROOM, FIRE PUMP ROOM, DETENTION TANK, WATER METER ROOM, ELECTRICAL ROOM, ATS ROOM, IT ROOM, SUPERS WORKSHOP | Mechanical and/or electrical equipment room | 8 | Factory and Industrial | ||
| 3 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | Cellar | ACCESSORYT TENAT STORAGE ROOM, COMPACTOR ROOM, BICYCLE STORAGE ROOM FOR 50 BICYCLES (365SF) | Storage of non combustible Materials | 3 | Storage | ||
| 4 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 1 | RESIDENTIAL LOBBY, MAIL ROOM | Apartment | N/A | Residential | ||
| 5 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 1 | THREE (3) CLASS A APARTMENTS | Apartment | N/A | Residential | 3 | |
| 6 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 1 | ACCESSORY TENANT FITNESS ROOM WITH OUTDOOR GARDEN, ACCESSORY TENANT COWORKING ROOM | Apartment | 64 | Residential | ||
| 7 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 2 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 8 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 3 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 9 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 4 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 10 | acris | 11/07/2025 08:24 AM | acris | 11/07/2025 08:24 AM | 5 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 |
335 West 25th Street
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | Cellar | THREE (3) ACCESSORY RECREATION ROOMS TO DWELLING UNIT ABOVE - NO LIVING, OR SLEEPING AT THIS LEVEL | Apartment | N/A | Residential | ||
| 2 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | Cellar | GAS METER ROOM, FIRE PUMP ROOM, DETENTION TANK, WATER METER ROOM, ELECTRICAL ROOM, ATS ROOM, IT ROOM, SUPERS WORKSHOP | Mechanical and/or electrical equipment room | 8 | Factory and Industrial | ||
| 3 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | Cellar | ACCESSORYT TENAT STORAGE ROOM, COMPACTOR ROOM, BICYCLE STORAGE ROOM FOR 50 BICYCLES (365SF) | Storage of non combustible Materials | 3 | Storage | ||
| 4 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 1 | RESIDENTIAL LOBBY, MAIL ROOM | Apartment | N/A | Residential | ||
| 5 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 1 | THREE (3) CLASS A APARTMENTS | Apartment | N/A | Residential | 3 | |
| 6 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 1 | ACCESSORY TENANT FITNESS ROOM WITH OUTDOOR GARDEN, ACCESSORY TENANT COWORKING ROOM | Apartment | 64 | Residential | ||
| 7 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 2 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 8 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 3 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 9 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 4 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 | |
| 10 | acris | 11/07/2025 08:26 AM | acris | 11/07/2025 08:26 AM | 5 | EIGHT (8) CLASS A APARTMENTS | Apartment | N/A | Residential | 8 |
The property
The property in Chelsea has 7,925 square feet of built space and 18,842 square feet of additional air rights for a total buildable of 26,752 square feet according to a PincusCo analysis of city data. The parcel has frontage of 45 feet and is 98 feet deep with a total lot size of 4,444 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.8 million. The most recent loan totaled $33 million and was provided by Genesis LLC on July 25, 2025.
The property in Chelsea has 31,797 square feet of built space and 45,446 square feet of additional air rights for a total buildable of 77,284 square feet according to a PincusCo analysis of city data. The parcel has frontage of 130 feet and is 98 feet deep with a total lot size of 12,838 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $8.1 million. The most recent loan totaled $33 million and was provided by Genesis LLC on July 25, 2025.
Prior sales and revenue
This property was sold with 3 other properties by Roman Catholic Church of Guardian Angel for $48.2 million to Timber Equities on July 25, 2025.
Development
Michel Perle submitted a new building construction project for a 98-unit, 98,047 square-foot residential (R-2) building at 345 West 25 Street. The plan was filed on November 5, 2025. It calls for the construction of a 145-foot tall, 14-story building and was filed with the New York City Department of Buildings under job number M01305858. The architect is Hill West Architects. The project is described in the filing as: construct new 14 story residential building as per plans filed.
Violations and lawsuits
According to city public data, the property has received $4,100 in OATH penalties in the last year.
The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $48.2 million judgment concerning a leave to sell filed on January 30, 2025, by Roman Catholic Church and Roman Catholic Church of Guardian Angel and Saint Columba against Timber Equities.
The neighborhood
In Chelsea, The bulk, or 35 percent of the 52.5 million square feet of commercial built space are office buildings, with elevator buildings next occupying 28 percent of the space. In sales, Chelsea has the 6th highest sale turnover among other neighborhoods in the city with $1.7 billion in sales volume in the last two years. For development, Chelsea has near average amount of major developments among other neighborhoods and is the 12th highest in Manhattan. It had 3.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.
The block
On the tax block, there were two new building construction projects totaling 196,598 square feet. The largest is a 99-unit, 98,551 square-foot residential (R-2) building submitted by Michel Perle with plans filed November 5, 2025 and it has not been permitted yet. The second largest is a 98-unit, 98,047 square-foot residential (R-2) building submitted by Michel Perle with plans filed November 5, 2025 and it has not been permitted yet.
The owner
The PincusCo database currently indicates that Timber Equities owned at least eight commercial properties with 324 residential units in New York City with 145,969 square feet and a city-determined market value of $15.7 million. (Market value is typically about 50% of actual value.) The portfolio has $153.8 million in debt, with top three lenders as Bank Hapoalim, Genesis LLC, and Webster Bank respectively. Within the portfolio, the bulk, or 40 percent of the 145,969 square feet of built space are D6 properties, with M1 properties next occupying 27 percent of the space. The bulk, or 74 percent of the built space, is in Manhattan, with Bronx next at 26 percent of the space.
The surrounding
Within a 400-foot radius of 345 West 25 Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months. It was a new building permit application filed on November 5, 2025 for a 141,806-square-foot residential (R-2) building with 99 residential units at 335 West 25th Street.
Direct link to the property’s ACRIS page and link to DOB NOW portal.