YIMBY checked in on the progress of two properties under construction at Essex Crossing: 180 Broome Street designed by Handel Architects, and 202 Broome Street designed by CetraRuddy Architecture. One of the largest developments to come to the Lower East Side, Essex Crossing is a mixed-use project composed of nine different buildings as part of a $1 billion master plan to bring new affordable housing, retail, dining, entertainment, and communal facilities to the neighborhood.
180 Broome Street
A new mixed-use tower within the billion-dollar Essex Crossing development has officially topped out above the Lower East Side, Manhattan. Located at 180 Broome Street, the 26-story tower is designed by Handel Architects and will eventually contain 175,000 square feet of office space, 263 rental units, and 27,000 square feet of retail area. The building is expected to complete by the end of 2020, while the full Essex Crossing project is planned to wrap up by 2024.
Right next to the pedestrian walkway entrance for the Williamsburg Bridge, Essex Crossing is already reinventing Manhattan’s Lower East Side. The nine-building development will cost over one billion dollars and create nearly two million square feet across a six-acre area, and the aerial scope of construction is now expanding well beyond the initial first new two structures.
Delancey Street Associates has closed a deal for funding the construction of 180 Broome Street, on the Lower East Side. The capital comes from Wells Fargo and M&T Bank, along with equity from DSA and Goldman Sachs Urban Investment Group. The loan secures $200 Million out of the projected total construction cost of $300 million. Essex Crossing is being developed by Delancey Street Associates, which is comprised of BFC Partners, L+M Development Partners, Taconic Investment Partners, and Goldman Sachs.
Another piece of the puzzle has fallen into place for Lower East Side megaproject Essex Crossing. Applications have been filed for a 25-story, mixed-use building at 180 Broome Street, between Delancey, Clinton, and Suffolk streets.