11-Story ‘Micro Unit’ Development Planned for Derilect Essex Street Property
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.
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.
[h/t City Realty]