305W16: Chelsea’s Newest Best Buy and Why

305W16: Chelsea’s Newest Best Buy and Why Photo by Richard Caplan (C) 2011 - Courtesy CORE / 305W16

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After two years of recession-era pause, the new development at 305 West 16th Street opened its doors and sales office as the condop, 305W16, last month. During the past two years, many have walked by the imposing facade and wondered, “What’s behind those incognito windows?” But I questioned it. Really? Here?

A month ago, I was invited to CORE’s opening party at 305W16 and my relationship with the building changed completely. (Full disclosure – I am a broker with CORE and this is not a PR piece, but something I genuinely wanted to write). I was able to experience the building in a whole new way once I was inside at a fun and exciting event that featured DJs, great food, painted models, a fire breather and a flamenco performance. The views from the roof deck, while only seven stories high, were unexpectedly spectacular. At dusk, the open sight lines from the North and West set the sparkling lights of Chelsea and Midtown alight.

The best part of it all is that location is a contradiction – so close to everything, yet with the feel of being removed from the busy streets below. As soon as one enters the building, the sounds of the city fade away in its elegant lobby. Even walking around the corner to the elevators instantly brings a feeling of understated modern luxury. After leaving the event that evening, I found myself wondering who I could bring to see this great new building – not because I needed to, but because I wanted to. Here’s why:

1) Layout: While 305W16’s one-bedrooms are cozy in size, they are well-outfitted and the model apartment demonstrates how wonderful the space can feel. The most similar one-bedrooms to 305W16 are equally cozy, but not new.

2) Price point: Given the high level of interest, prices have climbed, but are still well below the million dollar mark that many newer condos are currently asking. The building’s two-bedrooms are also priced well for this location. A space four blocks South in the West Village will have you shelling out at least another million plus dollars.

3) Location, location, location: At first I thought, “Would I want to live opposite the Google building?” Now I would absolutely say, “Yes.” Here’s why: once you’re inside the building you don’t hear any traffic from 8th Avenue or 16th Street because of the modern windows. When I think about all of the development that has happened in Chelsea during 2004-2008, most of it was in the high teens and twenties between Fifth and Sixth Avenues, or much farther West along Tenth Avenue where there are busy, commercial streets, and far from the subway.

Another highlight of 305W16 is the building’s West side view, which faces the new Dream Hotel and overlooks a playground between 16th and 17th Streets, featuring fully-grown trees and lush greenery. A cleverly placed window by the elevator allows you to enjoy the scenery before leaving the building.

Lastly, I can’t think of a better situated condo or condop in this price range in the neighborhood. 305W16 is located 0-1 blocks from six subways, two blocks from the heart of the West Village, one block from the Meatpacking District and is centrally located in Chelsea. Traveling anywhere in town from this location is effortless and you can be sure that friends will want to visit. If you ask me, this is the best located and best value proposition in Chelsea at the moment. – Tony Sargent.

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