Essex Crossing Etc: Delancey Street Associates Purchases Site 1 for $15.8M, Ground Break at Site 6
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Essex Crossing, Site 6
Delancey Street Associates, the consortium of developers behind Essex Crossing, provided Community Board 3 with several project updates on Wednesday evening. The progress report is for the first six SPURA parcels activated during this first phase of development.
Katie Archer now joins the team after spending 6+ years with the Lower East Side BID. She’s now the head mouthpiece for everything related to community affairs, and hopes to keep an “open dialog with the community.” An apt choice given her recent experience.
Site 1, Ludlow/Broome
The pile-driving phase at Site 1 is now complete. Henceforth, the story is more about drilling and “soil removal.” There are after-hours variances for Saturday work, but Archer notes that the jobs won’t be “as loud.”
Also, in a move that shouldn’t surprise, Delancey Street Associates purchased the former parking lot (242 Broome Street) from the city earlier this week for $15.8 million. As reported, the incoming residential tower is the only condo building during this first phase of construction. It’ll ascend fourteen stories and boast 55 units with an 80-20 mix of market rate and affordable respectively. Splitsville Lanes, a luxury bowling alley, is confirmed for the basement space; Andy Warhol Museum backed out of the project earlier this year, though.
Announcement of a replacement “cultural establishment” is still forthcoming.
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Site 2 of Essex Crossing
Site 2, Essex/Delancey
Pile driving activity continues during weekday hours at Site 2. If you stroll over to the site, you’ll be welcomed with five pile-drivers. Five!
This is the flagship building of the Essex Crossing brand, the 24-story “Gateway.” It contains the souped-up Essex Market facility, a 14-screen Regal movie theater, a 12,000 square-foot urban farm on the roof of the five-story podium, and 195 residential units (split 50-50 market rate, affordable).
Site 5, Broome/Clinton (southwest corner)
Excavation of Site 5 is ongoing after both the 1930s-era firehouse and twin tenements at 400-402 Grand Street were eradicated. The only confirmed commercial occupant here is Planet Fitness, which signed a lease for 22,000 square-feet.
The square-block is currently slated for a fifteen-story mixed-use tower, boasting 211 units (half affordable), a school facility, and park on the Broome Street front.
This is also the chosen location for a new supermarket, but there are no updates on that front. Only that discussions are happening.
Site 6, Broome/Clinton (northeast corner)
The ten-foot perimeter fence was erected outside Site 6 at the end of November. Ground-break has since commenced. The big-boy trucks are out there earth-moving. Projected construction period is 24 months, with completion pegged in December 2017.
Local chain Think Coffee is still planning to collaborate with the Grand Street Settlement for Think Grand Cafe on Site 6. The 2,500 square-foot coffee shop will serve sustainably sourced coffee, but owned and operated by Grand Street Settlement. It’ll be a true nonprofit, using all net proceeds to help fund its programs.
As for the 40,000 square-foot NYU Langone facility rumored for the spot, there’s still no confirmation.
Commercial tenants of Site 6 will be confirmed in approximately three weeks.
Housing stock and composition
Half of the total 1,000 units in Essex Crossing are “affordable.”
Site 1 (condos): 11 affordable units. Sales will go online for market rate units spring of 2016; affordable units sometime in 2017.
Site 2: 98 affordable units. Marketing to go online six months before the completion date in late 2017.
Site 5: 104 affordable units. Marketing to go online six months before the completion date in late 2017.
Site 6: 100 affordable units. Marketing to go online six months before the completion date in late 2017.
- The Children’s Museum of Manhattan is still rumored for Site 4. Its intentions were first disclosed in October when it was announced that a deal was close for 70,000 square-feet. Now there’s chatter of possibly opening at Site 3. Nothing conclusive, though.
- There will be an Essex Crossing community meeting for the public in January.
- Delancey Street Associates is hiring locally through the Lower East Side Employment Network. However, at the moment, the only availabilities are for security positions.