Overview

Since the genesis of The Onyx Chelsea, it has been a heavily discussed development. Topics which generated the most buzz included the risqué former career of Core Marketing Group’s head agent for the building, Fredrik Eklund along with debate over whether Chelsea is truly “heading north” or is this building simply in a bad location (28th Street & 8th Ave). Recent rumors about the financial status of the building have been circling as well. Has developer Bronfman Haymes exhausted his economic avenues? Has he tried to pawn off the building to other developers in the final months? Much of this is just gossip which should be ignored. Rumors fly around the New York condo market as readily as planes fly around JFK. With that said, the building is currently in the process of obtaining its TCO (Temporary Certificate of Occupancy), so it may begin scheduling closings. The sooner closings begin, the sooner the developer can collect escrowed funds and pay off loans. (more…)