Overview
100 West 18th is an interesting project. They haven’t gone overboard with the trendy feeling in the same way other Chelsea buildings have. They have a “define your own style” tagline which allows the humble buyer to feel comfortable as well. The project is on Sixth Avenue across from the giant Bed Bath and Beyond.

The facade of the building is going to be irridescent black brick, which may or may not turn out to be a glaring eyesore. Most of the surrounding buildings have a classic older look to them, many of which are Beaux-Arts style. In my view, this new look is not particularly “sleek” or “modern,” just cumbersome. But the wrap-around glass windows that run on two sides of the building should prove an interesting touch.

The lobby should be impressive, with the theme of serenity and walls rendered in porcelain and panels of bear grass in embedded Lucite. There will be a 24-hour concierge as well.

Garrett Gourlay, RA, designed the building (sometimes referred to as “the Modernist Australian.” They are also responsible for the 19-unit Avant Chelsea, going up just a few blocks over. The Brauser Group are both developing the project and handling the marketing for the building.

Units and Pricing
Sales started in February and the building is currently about 50% sold. The hottest commodities have been the 1-bedrooms (not unusual). Some of the three-bedroom units have been divided up to make more one-beds available. The price of these units which have pretty decent layouts and additional half baths are around $1.2 million. Most are around 900 feet. A few premium units have terraces. There are also a bunch of two-bedrooms and a handful of three-bedrooms still available.

Interiors
Imported wood floors from Sweden run throughout the apartments. They have a special way of locking together to prevent warping, which has been a major issue with new developments. The kitchens have all contemporary cabinetry, granite countertops, Milele and Sub-Zero stainless-steel appliances, including the infamous wine fridge.

The master bathrooms all have limestone ceramic tile walls and floors, wash basins, walnut cabintery, and Grohe fixtures. Some interesting features of the units are are the pre-installed Ipod speaker systems and custom shelving in the closets.

Amenities
100 West 18th does pull through with some cool amenities. They have a fully equipped private gym. They also have a landscaped roofdeck lounge (with outdoor fireplace) which is 3,500 feet. There is a clubroom which leads into the garden which is equipped with access to a kitchen for a catered party.

Area
This is a sweet spot in Chelsea, located directly on Sixth Avenue. It should be noted that this area gets congested all the time. While the traffic (cars and feet) can get annoying and loud, you are accessible to lots of transportation here. Taxis, subways, and buses are very nearby. 18th street is also fairly close to Union Square. You can stroll in that direction to find the farmer’s market, loads of restaurants, more subways, etc. One might also notice that this building is in a mixed commercial/residential neighborhood. Chelsea gets more residential as your cross Seventh avenue going west.

Investment Potential
This building doesn’t have the “sizzle” of some of its local competition. I did an entry on 141 Fifth Avenue which impressed me more in terms of architecture and location. However, the amenities here are solid and brand new construction has been doing well. There is a risk of over-building right now in Chelsea, but I’m generally bullish on the condo market. I’d say one should plan on a five-year hold, but it has reasonable appreciation potential.

This entry was posted on Thursday, June 28th, 2007 at 9:43 am and is filed under 100 West 18th Street, Blogroll. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.