The first permits for re-development at 165 Chrystie Street have been filed, and indicate that the existing low-rise will soon be replaced by a 10-story residential building. The architect of record is ODA, and the developer is DRK Chrystie LLC.
165 Chrystie Street is located off the corner of Bowery and Delancey; the location is at the heart of the Lower East Side, and the neighborhood is seeing a resurgence in construction. Several stalled projects lingered following the recession, but activity is returning to normal, and the re-development of run-down low-rises heralds the resumption of growth.
Given ODA’s involvement, the project will likely be very high-end; with only nine units, the building will fall into the ’boutique luxury’ segment of the market, and condominiums are likely. The project will have 17,225 square feet of space, and residences will average nearly 2,000 square feet — all will be full-floor, as well.
No completion date has been announced, and demolition permits for the existing structure are missing, though per the Department of Buildings, a stop-work order from 2001 is apparently still active.
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