Building: 305W16

305W16: A Luxury Residential Cooperative Development with Condominium Rules

The seven-story, modern luxury development with exteriors by SLCE Architects, has an eclectic mix of 53 studios, one-, two- and three-bedroom residences, plus numerous lifestyle-enhancing amenities, such as an in-house gym, and a beautifully planted rooftop terrace. “Perhaps”, a 35-foot flowerpot sculpture by renowned artist, Robert Buchholz, tops this modern culture influenced building.

Apartment interiors include double-paned, triple-locked windows that provide peace and quiet, but allow for plenty of natural light. Sturdy carbonized bamboo flooring is found throughout each home. Kitchens feature Caesarstone countertops, a Bosch cooktop, Fisher & Paykel refrigerator and custom Italian-made Cerused Wenge cabinetry. Bathrooms have custom Italian-made vanities, Grohe fixtures, and Roca tile. Additionally, every home comes with a washer and dryer. Storage and bike storage is available for purchase. 305W16 provides residents with a full staff and a 24-hour doorman.

Developed by Centaur Properties, 305W16 completed construction in 2009, but remained unoccupied until summer of 2011, when sales were launched by CORE. By the end of 2012, the building was completely sold out, and is currently managed by Maxwell – Kates.

305W16 has been granted a 421-a real estate tax exemption. This abatement provides apartment owners with reduced taxes that phase out over a ten-year period, which expires in 2021. Becoming a shareholder at 305W16 provides numerous financial advantages. It has no subletting or sale restrictions, and no flip taxes. There is no board approval and no title insurance or mortgage recording tax due at closing.

At the crossroads of Chelsea, the West Village and the Meatpacking District, 305W16 sits in NYC’s vibrant cultural center.

Building description provided by Patrick Mills