Delancey Street Associates has launched leasing for 350,000 square feet of office space in Essex Crossing. This will be the first significant block of Class-A office space to come to Manhattan’s Lower East Side, and the developers hope the quasi-historic surrounds and combination of new and existing retail will be enough to lure tenants.
L&M Development Partners
The tallest of nine structures comprising the Essex Crossing development, at 115 Delancey Street, has officially topped-out. The last time YIMBY reported on the site, it had just risen above street level, back in late January. The 26-story building will include 195 rental apartments, of which 98 will be affordable. Its developer, Delancey Street Associates, is comprised of BFC Partners, L+M Development Partners, and Taconic Investment Partners.
On the northern edge of the Financial District, construction is making major headway on the site comprising 23 Park Row, which will imminently stand 54 floors and 701 feet to its rooftop. YIMBY reported on permits back in April of 2016, before posting the first renderings last June. The tower, designed by COOKFOX Architects, will become one of the more prominent residential buildings in the neighborhood, and foundation work at the site has now begun.
As Mayor de Blasio’s initiatives to create affordable housing continue to fail, bright spots for advocates of a better and more inclusive New York City are few and far between. In the Two Bridges area of the Lower East Side, JDS, Extell, CIM, L+M, and the Starrett Group are planning five new towers with 700 affordable units. NIMBYs don’t care. Despite all that affordable housing, red herrings went flying at a community meeting last night, and the echo chamber of outrage reverberated all the way onto the internet.
If you’ve walked by the corner of Essex and Delancey streets on Manhattan’s Lower East Side, you’ve probably noticed there’s a lot going on. What is it? It’s the Essex Crossing mega-development. Among many other things, it will be the new home of the Essex Street Market. The current market is, however, still up and running and it wants people to know that.