Gentrification

With LES Gentrification at Critical Mass, the Time is Now to Pass Universal Rent Control [OP-ED]

Posted May 17, 2019 at 5:05 am

Bob Angles, a resident living in one of the affordable units of Essex Crossing, penned the following editorial. Secondary displacement, better known as gentrification, has been creeping up and down our streets for the past decade. Yet, with the arrival of thousands of new, unregulated apartments between the Extell tower (i.e. One Manhattan Square) and […]

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Red Square Rooftop Clocks Erased (but will Return)

Posted May 13, 2019 at 5:00 am

If you look up, you may have noticed that the rooftop clocks are gone from the building formerly known as Red Square. Its erasure, as reported by EV Grieve, is part of the overall renovation plan implemented by the Dermot Company, which purchased the upscale residential complex for $100 million in 2016. Other modifications at […]

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Art

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

Posted January 22, 2019 at 5:00 am

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 […]

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Streets

Blue Man Group Sells its LES Studio for $5.4M

Posted December 27, 2018 at 5:06 am

The Blue Man Group finally divested from its longtime Lower East Side property. Their Clinton Street studio space traded hands this month for $5.4 million. It comes with an additional 4,653 square-feet of development rights, allowing for a new project of roughly 10,120 square-feet. Buyer of record is Dr. Arani Bose, the co-founder of the […]

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Neighborhood Group Prepares Lawsuit Against City Over Two Bridges Towers

Posted December 12, 2018 at 5:01 am

“The City is trying to violate its own law to approve the luxury towers on the Two Bridges waterfront,” announces a flyer from the Lower East Side Organized Neighbors. Mere days after City Council leveled a lawsuit against the City Planning Commission for green-lighting the trio of skyscrapers, more such opposition is in store. The […]

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Streets

City Planning Approves Two Bridges Skyscrapers, Opponents Threaten Legal Action

Posted December 6, 2018 at 5:00 am

The dystopian future in which glass towers wall off the Lower East Side waterfront is now much closer to happening. City Planning Commission yesterday approved controversial plans for three proposed skyscrapers that will drastically change the composition of the neighborhood. The Real Deal reported that the vote carried by a 10 to 3 margin, thereby […]

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Streets

Dual Demolition Underway on Chrystie Street Ahead of New 14-Story Tower

Posted November 9, 2018 at 5:00 am

Already with two context-killing luxury developments currently rising on Chrystie Street, the block between Rivington and Stanton is heating up. Work is now underway that will eventually yield a 14-story building. Demolition began over the summer at 199 and 201 Chrystie Street. The death shroud cloaked both buildings during their demise. Before long, the adjacent […]

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Report: Lower East Side is One of the City’s Fastest Developing Neighborhoods

Posted October 30, 2018 at 5:04 am

It’s boom time for New York City. In the next two years, approximately 31,000 new apartment units are expected to hit the pipeline. More than half will be concentrated in neighborhoods across Brooklyn and Queens, according to data compiled by aggregator Localize.city. The recent report lists the city’s ten fastest developing neighborhoods ranked by number of […]

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High-End Condo at 40 Bleecker Street Hits 2-Story Height

Posted October 19, 2018 at 5:07 am

One year after its speedy demolition, time for a progress report on 40 Bleecker Street, soon to sprout more luxury living. The project site, situated at the corner of Mulberry, is sporting some heft. The superstructure recently achieved a height of two stories. And counting. As previously reported, this next chapter in the life of […]

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McNally Jackson Books Faces $500K Rent Hike

Last modified October 18, 2018 at 9:03 am

Last week, we broke news that McNally Jackson Books is leaving its Prince Street headquarters next spring after fourteen years on the block. Eponymous owner Sarah McNally allayed the sadness by saying that they settled on a new space nearby. Reason for the abrupt departure is an astronomical rent hike. Until now, amount of the […]

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