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.
15 East 30th Street, also known as 126 Madison Avenue, has been making swift progress toward its 51-story pinnacle. 16 floors have now been built, comprising 30 percent of the eventual total floor count. The building will soon rise to be one of the tallest buildings in the NoMad neighborhood, featuring exceptional views of the Empire State Building.
Plans have been announced for a new seven-story office building on the Greenpoint Waterfront, and today, YIMBY has the first renderings for the site. The project is targeted to satisfy the demand for more small Class-A office space in the rising Greenpoint and North Williamsburg areas, which have seen a significant boom in new residential development. Simon Baron Development is the developer behind the uniquely-shaped structure, and FXCollaborative is responsible for the design.
Permits have been filed for two eight-story mixed-use buildings at 376 and 378 Flushing Avenue in Bedford Stuyvesant, Brooklyn. The site is right on the border with Williamsburg. The Flushing Avenue subway station, serviced by the G train, is nine blocks away. Manhattan-based Riverside Developers USA is behind the applications.
While YIMBY normally covers aggregate new building applications on an annual basis, this year, we have released our first mid-year pipeline report, and the results are surprisingly positive. After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.