Possible Mid Rise in the future (Unless the developer goes skinny, it could become a highrise). Looks like it will probably yield a mid rise given the size of the lot.
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548 West 22nd Street
Quote:
Kevin Maloney’s Property Markets Group, the developer behind the high-profile Walker Tower project, is in contract to acquire a 40,000-square-foot commercial building in Chelsea for $40 million.
If extra air rights are bought, PMG could construct a building as big as 75,000 square feet on the site. Kilian LLC has owned the property at 548-554 West 22nd Street near 11th Avenue. The four-story building now has event and art gallery space.
Given the building’s location, zoning laws said the site must be equally divided up as both residential and commercial space.
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June 02, 2014
http://therealdeal.com/blog/2014/06/...space-for-40m/