Glacier Equities has launched sales at the newly reimagined 458 West 20th Street, a boutique cooperative building in the heart of the Chelsea Historic District offering 11 gut-renovated studio- and one-bedroom sponsor residences, all priced under $1 million.
The sponsor, Glacier Equities, purchased the coop’s unsold shares consisting of 15 units and is combining layouts to ultimately offer 11 residences for sale. Common areas such as the lobby, elevator, and hallways will also be redesigned.
458 West 20th Street was initially converted in the 1980s and the prior sponsor held onto most units in the 19-unit coop. Glacier Equities has purchased those units and is undertaking a building-wide renovation and gut-renovation of the remaining apartments to re-imagine the residences.
“In recent years we saw developers focus on larger units, and we believe there is a real need in the market now for efficiently sized, well-priced, gut-renovated residences in great locations,” said Myles Horn, principal, Glacier Equities. “In addition, 458 West 20th Street is an answer for people who don’t want to take on the time, stress, or expense of renovating on their own with current supply chain issues and contractors and designers who are already booked so far out. We have taken that on for them so they can buy and move right into like-new homes.”
Samantha Rose Frith of Coldwell Banker Warburg, which is handling sales, added, “These cooperative residences have been meticulously redesigned and offer coop pricing with condo-like allowances, such as no board approval required for these sponsor sales and unlimited subletting. It’s a unique offering and we expect sales to move swiftly, particularly as Manhattan rents have skyrocketed and people look for cost-efficient paths to homeownership in the city.”
An ideal blend of classic impeccable modern design and Chelsea style, the open, gourmet kitchens feature Lucenti Italian cabinets, marbled quartz countertops, and Blomberg and Bertazzoni appliances. All units feature large walk-in closets and washer/dryer. Spa-like baths have a sleek glass shower stall lined with Nemo porcelain tile and are enhanced with a Kohler cabinet, Toto toilet, and Phylrich fixtures.
Future improvements to the building façade include installation of all new windows, repainting, and upgraded vent installation to allow for new HVAC systems in units.
The first unit to debut for sale is #3A, a meticulous one-bedroom, one-bath home with a light-filled living and dining space complete with tall gallery walls perfect for artwork collections. The living room is served by an airy and open gourmet kitchen, while the queen-sized bedroom overlooks The Seminary and offers a spacious walk-in closet which can easily double as a dressing room. The home also features a washer/dryer. It offers immediate occupancy and is listed at $824,000.