Construction Begins at 282-286 Grand Street on Manhattan’s Lower East Side

Construction is now underway on 282-286 Grand Street, a seven-story residential building on Manhattan’s Lower East Side. The will yield a mix of rental apartments, amenity spaces, and commercial space.

Prosper Property Group, the primary developer responsible for the project, has formed a joint venture with Marc Straus, whose family has owned the development site since the 1970s. The construction phase, led by First Standard Construction, is expected to last 13 months with full delivery by 2023.

Former proposals called for the construction of a 23,763-square-foot building with just over 14,000 square feet designated for residential space and a 3,000-square-foot commercial component. The residential component was expected to yield 20 units and an unspecified collection of amenities.

Previous renderings of 282 Grand Street – Peterson Rich Office/Darcstudio

Evening rendering of 282-286 Grand Street – Prosper Property Group

With a new development team, the building will now comprise approximately 23,500 square feet and top out at seven stories, also with a commercial component. The building will create 25 rental apartments spread across roughly 22,500 square feet. Amenities will include a fitness center, bike storage, and communal recreation space. The ground-floor commercial component will occupy a modest 1,000 square feet.

The latest renderings show a simplified design from the previous iterations. The structure will feature a modern industrial style with a grid of square floor-to-ceiling windows and a gray brick façade. The center of the window grid is framed by inward sloping metal panels, and the roof appears to make way for an outdoor terrace.

Leasing is expected to begin next spring.

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