Renderings courtesy of Mabel
Applications are now being accepted for 57 mixed-income apartments at a new residential development in Chelsea. Located at 335 Eighth Avenue, Mabel is a seven-story building that was developed as part of the Penn South co-op complex. Designed to achieve Passive House standards, the sustainable rental has 188 apartments, modern amenities, and a ground-floor Lidl supermarket. New Yorkers earning 70 and 130 percent of the area median income can apply for the units, priced from $1,817/month studios to $4,415/month two bedrooms.
Developed by MAG Partners in partnership with Safanad and Met Life Investment Management and designed by COOKFOX, Mabel was built under the state’s Affordable NY Program and includes 188 total units, with 30 percent reserved for low- and middle-income New Yorkers.
Created in 1962, Penn South—also known as Mutual Redevelopment Houses—spans the area between Eighth and Ninth Avenues and West 23rd to 29th Streets. The complex has 10 buildings, roughly 3,000 apartments, and about 5,000 residents.
The previous building housed a Gristedes supermarket, a McDonald’s, and a tennis center—all of which needed major repairs Penn South couldn’t afford. With tenant leases set to expire, the site faced a significant loss of revenue, which would have led to higher monthly maintenance fees for residents across the development, as 6sqft previously reported.
To avoid this drop in revenue, Penn South and its 15-member Board of Directors searched for a partner to redevelop the site. After reviewing proposals from seven developers, they selected MAG Partners in 2021 to raze and rebuild the property.
MAG Partners will pay rent directly to Penn South through a ground lease agreement, creating an important source of income for the co-op. According to Penn South, the developer will pay $2.1 million annually.
Construction on the project began in October 2023, and Mabel topped out in June 2024. During construction, a temporary art installation titled “Panoramica” by Penn South resident and artist Joseph Meloy has been on display.
Just a few blocks north, MAG Partners opened Ruby, a 480-unit two-tower rental with 144 affordable apartments, in 2023.
MAG Partners named Mabel after Mabel Osgood Wright, an American writer and conservationist, continuing its tradition of naming residential projects after influential women.
The developers constructed the building to achieve LEED Gold and Passive House certification and incorporated biophilic design principles, according to CityRealty.
Amenities include a fitness center, a library, a media lounge, a coworking lounge with private workspaces, a dining area with a catering kitchen, and outdoor roof gardens with barbecues and dining areas. A Lidl supermarket will also open on the ground floor.
Nearby public transit options include the 1, C, and E subway lines via the 23rd Street station, as well as numerous bus routes. The property is a few blocks from Penn Station and Moynihan Train Hall.
Current market-rate availabilities at Mabel start at $4,463/month for studios, $6,646/month for one bedrooms, and $9,277/month for two bedrooms.
Qualifying New Yorkers can apply for the apartments until August 26, 2025. Complete details on how to apply are available here.
Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
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