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Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing

The Real Deal

Nightclubs Give Way To New Developments On West 27th Street

Where loud clubs such as Pink Elephant, B.E.D. and Bungalow 8 once thrived on West 27th Street, development is rising from their ashes and capitalizing on the quiet gallery scene just south. According to the Wall Street Journal, the rezoning of West Chelsea from West 16th to 30th streets in 2005 was key to the transformation of 27th Street between 10th and 11th avenues. And now the fruits of that rezoning are becoming ripe. The first new development was FLANK at 520 West 27th Street, an office building that opened in 2009 and became home to a shoe company, galleries, a fashion agency, an architecture firm and Alicia Keys' recording studio. The +aRt condominium, which has frontage on West 27th Street despite its 28th Street address, hit the market in March, and just yesterday the Chelsea Muse began leasing its units. In just a few weeks, the 56-room Hotel Americano will be complete in a matter of weeks and is preparing for a soft launch in August. The hotel will have a French restaurant, a Mediterranean Grill, two bars and a cafe. The developments can thank a community board that became frustrated with the clubs and raised objections with the State Liquor Authority and ushered out the clubs. In a sign of the transforming area, art dealer Paul Kasmin, who used to party at Bungalow 8 in his younger years, now has plans to open a sculpture gallery in the club's former space at 515 West 27th Street.

Thursday, June 23, 2011