Douglas Elliman to Market 30 New Manhattan Condos

Developed by Pan-Brothers Associates and Valyrian Capital, Graydon Chelsea is a boutique-style building that rises 15 stories in the borough's Chelsea neighborhood.
Graydon Chelsea. Image courtesy of Douglas Elliman Development Marketing

Douglas Elliman Development Marketing will oversee sales and marketing efforts at the newly constructed Graydon Chelsea condo building rising in Manhattan’s Chelsea neighborhood. Developed by a joint venture of Pan-Brothers Associates and Valyrian Capital, the Kutnicki Bernstein Architects-designed structure includes 30 units across 15 stories.

The property is located at 128 W. 23rd St. in Midtown Manhattan, near the Flatiron District and Madison Square Park. Graydon Chelsea is situated amidst an array of transit lines, with transport options including the 23 Street subway station around the corner.

Boutique-style living

Graydon Chelsea encompasses one- and two-bedroom units, and a three-bedroom penthouse, ranging between 610 and 2,481 square feet. The building features above-standard ceiling heights, large-scale windows and high-end finishes, while more than half of the units have outdoor spaces.

“Graydon Chelsea is a boutique building with only two or three units per floor that offer a first-class range of amenities and outdoor space, typically found in much larger projects,” George Pantelidis, co-founder & principal of Pan-Brothers Associates, told Multi-Housing News.

Common-area amenities are concentrated on the second floor and include a double-height lobby, as well as a landscaped terrace with fireplace and kitchen. Additionally, residents also have access to a lounge and fitness center, private storage units and bicycle storage.

Construction challenges

The onset of the pandemic impacted the evolution of the development process, causing significant disruption. “Without question, delays caused by the pandemic were our greatest challenge,” Ted Kakoyiannis, co-founder & principal of Valyrian Capital, noted.

“The delays ranged from a city-wide construction shutdown for more than three months, to newly enacted NYC DOB COVID-19 site restrictions regarding manpower, COVID-19 cleaning requirements, and supply chain disruptions relating to manufacturing and delivery of equipment and materials for the project,” Kakoyiannis added.

In spite of last year’s unprecedented challenges, the brokerage has an optimistic outlook on the future of the condo market: “Over the past couple of months, transactional volume has increased significantly and it appears that pattern will continue to strengthen as we move into the spring market,” Douglas Elliman Broker Andrew Anderson told MHN.

Sales at Graydon Chelsea will commence immediately, with prices ranging from $995,000 to more than $5 million. The first residents are expected to move in by fall. Apart from Anderson, the Douglas Elliman team in charge of leasing and sales at the property also includes Brokers Greg Williamson and Bruce Ehrmann. 

Over in Brooklyn, Douglas Elliman is also spearheading leasing efforts at another recently completed residential building in Williamsburg. Developed by Charney Cos. and Tavros Holdings, the 23-story rental building is now half full.