West Chelsea, Manhattan

Maison d’Art was a luxury mixed-use development proposal for 550 West 25th Street in West Chelsea, created through the NAIOP University Challenge and intended for a Prime-affiliated real estate sponsor. The concept transformed the site into an art-driven destination asset, blending luxury condominiums, boutique hospitality, premium retail, and rooftop programming. The proposal highlighted a diversified revenue strategy, with approximately $214.5 million in total development cost, a projected year-10 value of approximately $357.3 million, and a projected levered IRR of approximately 36.5%.

Highlights

• Presented a site-specific redevelopment vision grounded in West Chelsea’s luxury, cultural, and hospitality demand.

• Built the proposal around multiple income streams instead of relying on one exit strategy.

• Used the neighborhood’s art-market identity to support stronger branding, tenant positioning, and buyer appeal.

• Framed the project as both a real estate investment and a lifestyle destination.

• Supported the proposal with financial modeling, market logic, and a clear execution narrative.