Foundation work appears to be complete for the 25-story, 195-unit mixed-use building being developed as part of the Essex Crossing mega-development, at 115 Delancey Street, on the Lower East Side. A tower crane was also installed at the site, the Lo-Down reported, which means vertical growth is imminent. The latest building permits indicate the structure will encompass 498,688 square feet and stand 285 feet above street level. The building will have 139,493 square feet of commercial-retail space – in addition to bel0w-grade space that isn’t counted in documents — spread across the cellar through fourth floors. The cellar level, the ground floor, and mezzanine levels will contain retailers, including the new home of the Essex Street Market. This portion will form a third of the Market-Line, a bi-level, 150,000-square-foot retail complex that will connect below-grade to two other buildings in the Essex Crossing development.
A Regal Cinema will be located on the third and fourth floors, followed by residential units beginning on the sixth floor. Half of the units, rental apartments which average 849 square feet apiece, will go for below-market rates through the affordable housing lottery. Amenities include storage for 110 bikes, a fitness center, an urban farm/roof garden, a library with conference rooms and lounges, and rooftop terrace. Delancey Street Associates, comprised of L+M Development Partners, Taconic Investment Partners, and BFC Partners, is the developer. Handel Architects is behind the design of this building and completion is expected in 2018.
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