Sincerely,
Annie & Arlene

Credit: Essex Crossing

The Lower East Side has been ripe for redevelopment for some time. While the neighborhood is home to over 120 art galleries, hip restaurants, a hopping night life and other cultural landmarks, the residential inventory has been lacking. That will change with the creation of Essex Crossing, a $1.1 billion mixed-use project featuring a nine-building complex located around Essex and Delancey Streets. The complex will contain more than 1,000 residential units, half of which will be affordable for low-, moderate, and middle-income families and seniors. Essex Crossing will also feature 15,000 square foot public park, a medical facility operated by NYU Langone Medical Center, a Cineplex, a bowling alley, retail and offices. It will also be the new home of the Essex Street Market, which will move from its previous space occupied for 75 years to be part of the bi-level, three-block long Market Line, selling food, arts and crafts.

Other new smaller projects in the neighborhood include 50 Clinton (37 new units), 100 Norfolk (38 units) and the Ludlow, with 243 rentable units.

Further south, the neighborhood called Two Bridges (located between the Manhattan and Brooklyn bridges in Manhattan) is quickly becoming a hot area for new development. Located adjacent to the Manhattan Bridge along the East River, at 252 South Street, Extell’s One Manhattan Square, a luxury 80-story glass tower offering impressive river views, is offering 815 condominiums with a wide array of amenities, including a multi-level fitness center, three swimming pools, a bowling alley, a full-size basketball court, gold simulators, squash court, a yoga studio, a cinema, and a performance center, children’s playroom and teen arcade. The lower levels will include two large retail spaces, one of which will likely be a grocery store.

Nearby, another supertall tower just north, at 247 Cherry Street, will begin construction soon, as will a new 60-story building with 740 apartments at 271 South Street. Not to be outdone, planning for a project at 260 South Street has begun, featuring a pair of residential towers reaching 62 and 69 floors respectively.

Heading further downtown, the South Street Seaport has been under construction for several years, but is projected to be completed next summer. The entire Seaport District is undergoing a complete transformation and will include seven buildings featuring top-notch dining, shopping, entertainment and cultural offerings. Already announced are restaurants from Jean Georges Vongerichten and Momofuku Group, as well as an iPic Theater (the first in Manhattan). Pier 17, the original Seaport Mall, will feature a 1.5-acre rooftop with restaurants, outdoor bars and year-round music concerts and events.

With the Seaport District undergoing a transformation, so, too, will the surrounding neighborhood. Already under construction is 1 Seaport Tower, a new 60-story luxury condo tower with 80 apartments offering 360-degree harbor views. The building will have a full floor of fitness facilities as well as a Water Club Spa on the 30th floor. In addition, residents will have access to a selection of yachts for private chartering!

Other projects under development near the Seaport District include The Beekman, a 68-unit condo tower attached to the 287-room Thompson Hotel at 5 Beekman Street; 50 West Street, a 191-unit condo tower; 30 Park Place, a Robert A.M. Stern-designed condo-hotel project featuring 157 apartments atop a 189-room Four Seasons Hotel; and 125 Greenwich, 128-apartment Rafael Vinoly-designed tower forthcoming from developers. Additional new residential projects will also likely pop up once the Seaport District reopens.