Watermark Capital Group Acquires Former Barneys Property in Chelsea for Residential Conversion
Spirit Halloween was just a temporary fix for a Chelsea property as Watermark Capital Group buys the former Barneys building for undisclosed price.
Wolfe Landau's Watermark Capital Group has recently acquired the former Barneys property at 101 Seventh Avenue in Chelsea, as reported by the Commercial Observer. The acquisition, which closed last week, was acquired from Regency Centers of Connecticut.
This prime property is set to undergo a residential conversion, having served as a temporary location for Spirit Halloween in the past. Watermark Capital Group has yet to announce their plans for the building, but the move is expected to bring in significant profits for the firm.
"We are excited to add this highly desirable property to our portfolio," said a spokesperson for Watermark Capital Group. "We see great potential in converting this space into luxury residential units in the heart of Chelsea."
The former Barneys building, known for its iconic red awnings, has been a fixture in the Chelsea community for years. Its prime location and potential for luxury residential units make it a highly coveted property in the real estate market.
Originally reported by The Real Deal.
https://therealdeal.com/new-york/2025/07/08/wolfe-landau-converting-former-barneys-in-chelsea/