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Habitat Magazine Business of Management 2021

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CO-OP/CONDO BUYERS

WHAT CO-OP/CONDO BUYERS NEED TO KNOW

Another One Bites the Dust

Chelsea

Gallery Goes Condo.

532 West 20th Street (image via Google Maps)

April 20, 2016

Churches and synagogues are doing it. College campuses and auto repair shops and bank buildings are doing it. So why shouldn’t a humble, 50-foot-wide, one-story art gallery do it?

What they’re doing, of course, is selling out to developers who drool at the thought of creating high-dollar condominium buildings. The latest to take the money – $24.25 million, to be exact – is the owner of the building at 532 West 20th Street in Chelsea, which houses the Anton Kern Gallery, YIMBY reports.

The buyer is the design-build firm DDG, which has filed plans to erect an 11-story, nine-unit condo building on the lot between Tenth Avenue and the West Side Highway, within shouting distance of the High Line.

The building will include parking for 10 cars, full-floor units with a shared roof terrace, and a penthouse with a private roof deck.

No word yet on when Anton Kern has to pack up the art and get gone.

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