250 South Street

Extell Unveils ‘Rent-to-Own’ Program at Failed One Manhattan Square Tower

Posted September 26, 2019 at 5:10 am

One Manhattan Square announced its official completion and feted itself last night. But should it be celebrating? A condo-only tower it is not, instead resorting to a new rental initiative to drive sales. With a twist. Extell Development Corp., whose PR vehemently denied offering any rental units in the 80-story “vertical village” when we first […]

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The Lower East Side has the Largest Surplus of Unsold Luxury Condos, Thanks to One Manhattan Square

Posted September 16, 2019 at 5:00 am

The city currently has a problem unloading the luxury condos flooding the market. The New York Times last week published a piece about the glut of unsold apartments in the luxury stratosphere. That, despite the bonkers pace of construction in the high-end market, supply is outstripping demand. The data, culled from a StreetEasy audit, found […]

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Condo Woe: One Manhattan Square Struggles to Shift Inventory, Takes out $692M Loan

Last modified September 6, 2019 at 7:20 am

It’s no secret that One Manhattan Square is desperate to stock its ranks. The struggle is real. Earlier this summer, Extell offered up to 10 years of free common charges to prospective condo buyers who purchased before July 4; internet ad banners are ubiquitous; sales are also sluggish. Revealed in a Commercial Observer report about […]

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Is Extell Resorting to Rentals at One Manhattan Square? [Updated]

Last modified April 16, 2019 at 2:09 pm

For many on the Lower East Side waterfront, Extell’s purported woes are a lesson in schadenfreude. Especially given the years of construction hell endured by those in the vicinity. Apparently it’s much ado about occupancy. No sooner do move-ins happen at Extell’s One Manhattan Square than residents start renting out their pricey new pads. That […]

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Desperate Extell Offers to Waive up to 10 Years of Common Charges at One Manhattan Square

Posted April 11, 2019 at 5:09 am

Winds of change are blowing down on the Lower East Side waterfront. Extell appears desperate to sell condos at One Manhattan Square. So much so that the 850-foot, 815-unit skyscraper has resorted to comping up to ten years of common charges for new residents. These fees range from roughly $700 to $2,300 per month, based on current […]

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Extell’s One Manhattan Square is Now ‘Fully Enclosed’

Posted October 23, 2018 at 5:00 am

It seemed like the job would never finish, but One Manhattan Square is finally completely glassed up. Fully enclosed from top to bottom, it’s a feat almost six years in the making. Dating back to Extell’s purchase of the Pathmark plot in February 2013 for $175 million, and destruction of the supermarket the following year. […]

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Just Sitting Precariously 850 Feet Above the Lower East Side Waterfront [VIDEO]

Posted July 30, 2018 at 5:06 am

It’s a view to a kill. An anonymous iron worker atop Extell’s gargantuan One Manhattan Square shot a quick clip on Friday afternoon. Just casually sitting there, dangling his legs more than eight hundred feet above the street. (The workers are harnessed.) The video itself is burning up the Reddit chart, and the post briefly […]

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Extell to Dismantle the Tower Crane at One Manhattan Square

Posted March 14, 2018 at 5:14 am

After more than two years on the job, the tower crane affixed to Extell’s One Manhattan Square is ready to come down. It’s mere days from dismantling. To accomplish the task of removing the 200-foot vehicle, construction management firm LendLease is closing off Pike Slip for three days starting Friday night at 10pm and ending […]

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Extell’s 80-Story Stain on the LES Skyline Finally Tops Out

Posted September 29, 2017 at 5:00 am

It’s an indelible stain on the skyline, visible from all corners of the Lower East Side. One Manhattan Square, the 850-foot (80 stories) “vertical village” on South Street, finally reached the top yesterday. Meaning, it won’t go any higher. This is likely the most important milestone since ground-break three years ago. Not that you would know it, […]

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In a First, Privileged Condo Owners at One Manhattan Square will have ‘Infrared Sauna’ Amenity

Last modified August 3, 2017 at 1:02 pm

Anything to one-up the competition, Extell Development Corp. is embracing a new spa fad to attract buyers to its monolithic One Manhattan Square. The so-called “vertical village” will offer infrared saunas as part of the bonkers slate of amenities available to condo buyers. It’s a fad endorsed by celebrities that apparently counts Kim Kardashian, Jennifer Anniston, […]

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