Meatpacking District seeing more penthouse additions - Rava Realty

Meatpacking District seeing more penthouse additions

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The temptation to build up, to maximize the profits from one’s real estate, continues unabated to this day. And the Meatpacking District in Lower Manhattan is no exception. In fact, that area seems to be one of the main sites where penthouse additions keep sprouting. This makes some sense since much of the area is landmarked, there is a limit to how much new building can occur, and how high it can rise over current structures.

There are two new projects in the offing, or potentially in the offing: the expansion of Chelsea Market and the addition of several floors to the two-story 9-19 Ninth Avenue, best known as the former home of Pastis (a bistro which is now slated to open somewhere else in the neighborhood). The former Pastis building is about to become a flagship for Restoration Hardware, a home-furnishings retailer that recently signed a 15-year lease for nearly $250 million.

The building, built in the 1880s as a stable, will get an annex containing 70,000 square feet, as well as an outdoor space on the third floor and a wraparound terrace. After some back and forth with the Landmarks Preservation Committee, BKSK Architects came up with a design that appears to have passed muster. It consists of a three-story glass annex that is very different in feeling from the two stories of red brick that make up the existing building, and also a modification of the ground floor into a continuous ribbon window at street level.

As for the latest designs for Chelsea Market, according to the real estate website Curbed, the developer Jamestown, having been disappointed in its attempts to place a hotel atop the building, now hopes to create a 330,000-square-foot addition consisting of office space.

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