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.
Taconic Investment Partners, TH Real Estate, and Squire Investments have acquired, for $109 million, the 14-story, 114,000-square-foot commercial building at 817 Broadway, located on the corner of East 12th Street in Greenwich Village. The new owners plan to let the leases of existing office and retail tenants expire so that a top-down renovation can begin, Real Estate Weekly reported. The building would get a redesigned lobby, a complete façade restoration, renovated retail and office space, and upgraded mechanical infrastructure. A construction timeline has not been disclosed. A $102 million acquisition and construction loan has already been secured.
The huge two-building, 392-unit rental development at 525 West 52nd Street in Hell’s Kitchen looks like it could be ready for tenants soon. Tectonic brings YIMBY a look at how construction is coming along at the site between 10 and 11th avenues.