Breaking Chelsea Real Estate Records

It’s been said many times that “Chelsea Has It All.” It’s a neighborhood bustling with sites such as the High Line; art galleries are spread throughout the neighborhood, and the variety of architecture one would witness while strolling the tree lined streets seems endless. Chelsea is home to several exciting and awe-inspiring sights, and is now the home to a record-breaking townhouse.

Located on 150 West 15th Street (just a block away from The Oculus), the now 7-story townhome could have saw a very different fate. Daren Herzberg, a real estate agent/developer hybrid, purchased the site back in 2006 for $3.71 million, the Wall Street Journal reports. He had big dreams of converting the townhouse into a four-unit luxury apartment building with prices ranging from $1,695,000 to $7 million, and a private rooftop pool. Construction began in 2007, and he raised the the former premise to it’s present 7-floor height and released renderings of a sleek and modern looking condominium building (pictured below).

Alas, finance issues ensued and work was halted. Mr. Herzberg was staring down the barrell of debt which he found solace from with help from addition capital handed to him by investors. Thus, he found himself at the drawing-board once again and decided on turning the former four-unit condominium into a “mega-townhouse.”

While 150 West 15th Street has been on the market with an asking price of $22 million (which was substantially cut over the years) since 2010, no one was taking the bait. The allure of having an entire home with 6-7 bedrooms, 10 bathrooms, an elevator, roof terrace and a landscaped garden just didn’t seem to be appealing to anyone. Enter designer Eric Cohler. He set up shop, (literally dwelling within the home for 2 years) and revamped the interior with additions such as his very own artwork. The Journal reports that it was Cohler’s magic touch of design which hooked the buyers, and they eagerly shelled out $15.5 million ($1,892 per square foot) for the home.

In 2012, a home on West 20th Street in Chelsea sold for $8.75 million and was holding the title of the highest priced sale in the neighborhood. Herzberg’s unrelenting efforts have given 150 West 15th Street the (well-earned) title of record-breaking sale within the Chelsea neighborhood.