Children’s Museum of Manhattan Backs out of Essex Crossing

Posted on: October 14th, 2016 at 9:23 am by
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The Children’s Museum of Manhattan just nixed its plans for a larger facility within Site 4 of Essex Crossing. Even though Delancey Street Associates, the consortium of developers behind the $1.1 billion project, never quite confirmed negotiations with the institution, executive director Andy Ackerman told Crain’s yesterday that talks broke down.

“We had a wonderful conversation, but at the end of the day it didn’t work out,” he said. “Location, financing, timing—all those things have to line up.”

Had the deal actually gone through, the museum would’ve doubled its space to 70,000 square-feet.

Ackerman declined to cite why the 43-year-old UWS-based Children’s Museum decided to pull the plug on Site 4, yet don’t be surprised if it’s rent-related. There has been much unconfirmed chatter to that effect with regard to the big-time anchor tenants for Essex Crossing (remember the Andy Warhol Museum).

News of its defection comes just a couple weeks after plans were filed with the Department of Buildings for 180 Broome Street (Site 4), the still-functional parking lot bounded between Clinton and Suffolk. Plans call for 263 apartments with 198,927 square-feet of residential space, plus an additional 148,067 square-feet designated commercial. Regarding the latter, a retail market will occupy the cellar while stores related to the Market Line round out the ground level.

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