TOWN Residential Announces the $54.75 Million Sale of 517 West 29th

11/18/15

TOWN Residential, New York’s leading luxury real estate services firm, is proud to announce the successful $54.75M closing of 517 West 29th Street, which currently operates as the Tuck-It-Away Storage Center. Stephen Ferrara of TOWN Residential represented the purchasers Six Sigma NYC. The property closed on November 16, 2015 and plans are underway for the development of the 100x100 foot site as a luxury condominium.

Six Sigma NYC (http://www.sixsigmanyc.com/) is a boutique design and build firm dedicated to developing, designing, and building ultra-luxury condos in NYC’s most discerning neighborhoods. The designs are focused on delivering amenities, finishes and quality that push the upper limits of what is available in today’s market. Current projects include 449 Washington Street, 56 Walker Street, and 435 W. 19th Street.

Balancing a thriving luxury commercial thoroughfare, Chelsea boasts beautiful brownstones and tree-lined streets with beautiful brownstones, quaint shops, prime dining and an electric nightlife. Newer developments, both commercial and residential, are cropping up further west as the Chelsea area continues to sprout up as the last remaining developmental frontier of Manhattan.

An area quickly becoming recognized as Architects’ Row, 517 West 29th Street will join notable neighbors including Bauhouse Group’s SCDA Architects-designed 515 West 29th Street; Architect Soo Chan’s Soori High Line, 522 West 29th Street; Zaha Hadid's 520 West 28th Street; architect Cary Tamarkin's 508 West 24th Street, among others.

The revitalization of the Highline railway, a designated green space just steps from 517 West 29th Street, and relocation of the Whitney Museum has also spurred major commercial and residential growth in the area. The neighborhood can be accessed by the N and R trains, as well as the 1, C and E subway lines; as well as the M23 bus which runs to the waterfront and Chelsea Piers.

A self-starter with several years' success in hospitality under his belt and a continuing commitment to client satisfaction, Stephen Ferrara is a true real estate professional who guarantees results. In his first year with TOWN Residential, Stephen was nominated for both Deal of the Year and Rookie of the Year and was most recently named one of America's top real estate professionals by REAL Trends, as advertised in The Wall Street Journal.

About TOWN Residential: TOWN Residential is New York’s leading luxury real estate services firm. Founded in 2010, TOWN Residential was created by founder and CEO Andrew Heiberger and is co-chaired by Joseph Sitt. An integral part of the New York real estate landscape, TOWN has a team that exceeds 650 licensed professionals and staff in nine neighborhood offices: TOWN Greenwich Village, at 530 LaGuardia Place; TOWN SoHo, an 1886 landmarked corner storefront at 337 West Broadway; TOWN 79th Street, a corner storefront at 239 East 79th Street on the Upper East Side; TOWN West Village, a trophy office at 446 West 14th Street; TOWN Astor Place, a block-storefront space overlooking historic Astor Place in the Gwathmey Siegel-designed Sculpture for Living at 26 Astor Place; TOWN Fifth Avenue, located in the prestigious Crown Building at 730 Fifth Avenue at 57th Street; TOWN Flatiron, located at 110 Fifth Avenue and 16th Street; TOWN Greenwich Street, nestled in the heart of the Financial District at 88 Greenwich Street; and TOWN Gramercy Park at historic 33 Irving Place. For more information about these offices and TOWN Residential, visit www.townresidential.com.

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