Luxury Condos to Replace Chelsea Building After $19.3 M. Sale

On Sept. 15, while the rest of the world was preoccupied with the demise of Lehman Brothers, Bank of America's acquisition of Merrill Lynch, and AIG's request for a government loan, at least two parties in this city went about business as usual.

A buyer affiliated with Anbau Enterprises bought the diminutive, five-story 124 West 23rd Street from Franpearl Equities Corp. for $19.3 million. The building last traded in 2004 for $10.6 million.

According to Anbau's Web site, "The plan is to construct a new 16-story building containing approximately 34 luxury residences, each with high-quality finishes and attractive city views. Anbau is set to deliver unique, flexible spaces tailored to this vibrant community.  read more »

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