NoVo, a nonprofit run by Warren Buffett's son Peter and his wife, Jennifer, has signed a 99-year lease, valued at up to $200M, for the former Bayview Correctional Facility at 550 W 20th St.
Woman-owned developer the Goren Group will redevelop the 100k SF former clink (rendering shown), and outfit it with offices for several women's organizations. It will also have community spaces, a ground-floor art installation, a new restaurant, and commercial space geared toward tech companies.
The Goren Group is working with New York's Historic Preservation Office to maintain and upgrade elements of the 84-year-old Chelsea building, which was initially a YMCA for sailors. [CO]
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