11 Essex Street is Half its Former Self
As of this week, the demolition is nearing complete; the building has been cut down to half-size.
As previously reported, real estate scion Sion Misrahi sold 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 (purportedly under the guise of emergency repair work).
The new owner (11 Essex Realty LLC) plans to construct an eleven-story development “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. Each tiny apartment will reportedly feature a “large expanse of windows and disciplined flow of spaces” to make apartments appear larger than reality.