Of all the developments currently under construction in New York City, none have been in the making for longer than Essex Crossing, which is rising on the site of several long-vacant lots on the Lower East Side. With the master-plan’s first new buildings just about fully complete, YIMBY sat down with Charles Bendit of Taconic, and asked the co-CEO ten questions about the New York City real estate market.
The building boom enveloping New York City’s waterfront neighborhoods extended into Coney Island last year, with several big projects entering the pipeline. Today, YIMBY has the first rendering for the largest one yet, slated to rise on Surf Avenue. The redevelopment will yield 1,000 apartments, 150,000 square feet of retail space, and 80,000 square feet of offices, indicating the neighborhood’s post-Sandy rebirth is continuing with vigor.
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.