HAP Seeks Approval to Build Mid-Size Condo Building in Chelsea
- May 31, 2014
HAP Investments, a real estate development company founded by Israeli entrepreneurs Eran Polack, Amir Hasid and Nir Amsel, wants to build a mid-sized condominium building in Manhattan’s Chelsea neighborhood, across the street from to the Fashion Institute of Technology and within walking distance to Google New York Headquarters and the Verizon Building.
The company recently filed an application with the New York City Department of Buildings for a building permit, the Commercial Observer reported. Dubbed HAP EIGHT N.Y., the building will replace a four-story structure that housed the soccer pub Smithfield at 215 West 28th Street between Seventh Avenue and Eighth Avenue and the immediately adjacent parking lot.
According to Globes, an Israeli online business news outlet, the 75-foot wide site at 215-219 West 28th Street was purchased by HAP Investments in August 2013 for a little over $50 million. The transaction was negotiated by a team of brokers of Massey Knakal, while the seller—ADG-Langsam, a partnership between American Development Group and Langsam Property Services Corp. —was represented by Brian Lockner, head of investments and acquisitions for American Development Group.
HAP EIGHT NY is part of a development plan totaling more than 500 apartments in ten locations across Manhattan, according to information on the developer’s website. If approved by the city Department of Buildings, the development project is estimated to take two to three years to complete, Globes noted. The building will raise 21 stories above ground and will include 117 condo units totaling nearly 153,000 square feet, along with parking spaces and ground-level retail space. The project’s architect of record is WASA/Studio A, formely known as Wank Adams Slavin Associates LLP.
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Rendering courtesy of HAP Investments