Sales Start at Fast Pace for Luxury Condo Project in Chelsea

By Anuradha Kher, Online News EditorNew York–Modern 23, a 15-unit luxury condominium project, located at 350 West 23rd St. in Manhattan, recently started selling. Daniel Goldner Architects designed the 15 two- and three-bedroom units, ranging in size from 1,661 to 2,581 sq. ft., and featuring fireplaces, private outdoor space and open layouts.The building, which used to be a hotel, had become a Single Room Occupancy (SRO) project in recent years. “It was spoiling the environment around it,” Erez Itzhaki, CEO of Keystone Group, which developed the project, tells MHN. Keystone bought the buildings, razed them and built a new project in its place.Each of the 15 units features solid rift oak flooring, floor-to-ceiling windows, large walk-in closets, 9-ft. ceilings, and unobstructed northern and southern exposures. Many of the units have private rear balconies and terraces. Every kitchen is equipped with a Wolf cook top, oven and microwave, a 36-in. Sub-Zero refrigerator with double freezer drawers, a Bosch washer and dryer and Asko dishwasher. The luxurious baths at Modern 23 feature Calacatta gold marble flooring with Glacial Glass tile walls, Zuma soaking tubs and Caesar-Stone quartz vanities. The building also features an attended lobby with package room and cyber-doorman, key-lock elevator entry, individual storage units, bicycle storage and a landscaped common roof deck.Prices range from $1.950 million for two-bedroom units and $2.325 million for three-bedroom units. Occupancy is slated for March 2009.“I am not worried about the market affecting the prices. If it were the Lower East Side, Murray Hill or Hell’s Kitchen, I would, but Chelsea is very well located,” Itzhaki tells MHN. Since the  project opened its sales last month, 20 percent of the units have already been sold, and Itzhaki expects the remaining units to be sold by next month.