11-Story ‘Micro Unit’ Development Planned for Derilect Essex Street Property

Posted on: January 22nd, 2019 at 5:00 am by

Ten years after tenants were vacated from 11 Essex Street, the next chapter is finally poised to unfold. And as expected, involves demolition and a glitzy new development.

As previously reported, real estate scion Sion Misrahi parted with the neglected property in August of 2017 for $11.4 million, sixteen years after his acquisition and subsequent liquidation of the predominantly low-income tenants. The new owner (11 Essex Realty LLC) is now underway on an eleven-story replacement “catering to young professionals,” in its own words. It’ll sport thirteen one-bedroom and three two-bedroom micro-units, plus a full-floor Penthouse.

Architect of record is TRA Studio.

Photo: TRA Studio

There’s a lot of talk about apartment size, or lack thereof, in the literature.

This slender 120’ tall mixed use building, located on a shallow lot in the lower East Side , houses thirteen one bedroom micro-units apartments, ranging from approximately 500 sf and three two bedroom full-floor Penthouse units, catering to young professionals.

The disciplined flow of spaces makes the apartments feel bigger and extremely comfortable. Each unit has ample closets and a private laundry are, amenities include rooftop recreation space, a 16’ high Lobby and a bike storage area.

Meanwhile, demolition plans were approved by Department of Buildings one month ago.

Photo: TRA Studio

[h/t City Realty]

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