555 West 23rd Street is located in New York’s West Chelsea neighborhood, also known as the Gallery District. The development was one of the first in the area and aimed to provide real value for young, first-time buyers. Upon completion, the building offered a stylish, luxury condominium in an emerging neighborhood. 421-a certificates were used to allow purchasers to pay significantly less real estate taxes for the first ten years. The two-story lobby houses a large central atrium which features a water wall, leather panels, sculptural furniture and art from local galleries. Luxury touches in the residences include personal medicine lock boxes, smart wiring, wall safes, fully-equipped open kitchens, wood cabinets and floors and washer/dryers in most residences. Additionally, the project has 11,000 sf of retail, including a number of art galleries.