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.
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.
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.
Steel beams and the concrete core are now a couple stories above street level on the 25-story, 195-unit mixed-use project under development at 115 Delancey Street, located between Essex and Norfolk streets on the Lower East Side. Progress can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the new building will encompass 489,688 square feet and rise 315 feet to the top of its parapet.
Construction has topped out on the 15-story, 211-unit mixed-use building under development, as part of the Essex Crossing mega-development, at 145 Clinton Street, on the Lower East Side. The structure can be seen in an update by Bowery Boogie. The project encompasses 283,178 square feet. There will be 73,000 square feet of commercial-retail space across the ground through second levels, followed by rental apartments on the floors above. Half of the apartments, or 105 units, will rent at below-market rates through the housing lottery. Delancey Street Associates, comprised of L+M Development Partners, Taconic Investment Partners, and BFC Partners, is the developer. Beyer Blinder Belle is behind the architecture. Completion is expected in 2017.