Rumor: Essex Crossing Developer Taconic Partners Offering Buyout to 75 Essex Street Owner

Posted on: February 27th, 2014 at 1:45 pm by
This image has been archived or removed.

Here’s a juicy rumor for you. A credible source with knowledge of the matter relays that Taconic Partners, one of the developers behind Essex Crossing, is reportedly offering owner Shalom Eisner a hefty sum for the Eastern Dispensary Building at 75 Essex Street. A possible expansion of the original SPURA proposal is allegedly afoot.

This rumor further proves that 75 Essex is the latest battleground pitting Lower East Side preservationists against developers. What seemed like a possible shoe-in for landmarking just a couple years ago is now a contentious fight. The Essex Crossing development completely changed the calculus here. And the land is simply way more valuable than the recent real estate listings for the property (somewhere between $15 and $25 million).

The grassroots Friends of the Lower East Side had already submitted a “Request for Evaluation” to the Landmarks Preservation Commission last January, and finally gained an audience with Community Board 3 this month. As we previously reported, that exercise didn’t go so well, with the full board having kicked the measure back down to committee (i.e. back to the drawing board). Owner Shalom Eisner, who purportedly desired landmarking a few years ago, had changed his tune, arguing that doing so might affect the inheritance to his progeny.

This image has been archived or removed.

Essex Crossing rendering with 75 Essex incorporated, Photo: Essex Crossing

For its part, the preservationists are worried that a “midnight job” might be afoot. Like in the 1980s when buildings would be razed under cover of darkness to ensure projects would happen (or collect the insurance money).

So it’s certainly conceivable that those renderings may soon require a refresh…

Recent Stories

This Mott Street ATM Gouges with 17% Fee

Storefront ATMs are nothing new. In fact, their ubiquity was so pronounced that the city banned freestanding ones from sidewalks about a decade ago. Visitors to Chinatown or the Lower East Side unfamiliar with bank ATM locations when in need of cash might not realize the exorbitant fees some ATM operators are charging. For instance, […]

Bongos Taps into Orchard Street with ‘Gala Dinners’

The principals behind five-year-old Kind Regards on Ludlow Street – Michael Bray and Noble Harris – are together joining the party south of the Delancey Divide with a new hangout called Bongos. Bongos opened at 85 Orchard Street earlier this month – on the museum block – reactivating the storefront left vacant by An Choi two […]

Blockchain Company Anchors Sunshine Cinema Replacement Tower

The glassy office building that replaced the beloved Sunshine Cinema has its first tenant. And an anchor, at that. The arrival of San Francisco-based Solana Labs comes mere weeks after the sidewalk bridge outside 141 East Houston came down (thereby freeing Yonah Schimmel from bondage). Solana Labs, a blockchain company, reportedly signed a lease for […]

Man Shot and Killed on Q Train at Canal Street in Unprovoked Attack

A straphanger was shot and killed Sunday morning on a Q train just off the Manhattan Bridge in what investigators are calling an unprovoked attack. The 48-year-old victim, whose name is not released, was shot in the chest around 11:40am yesterday while riding a northbound Q train that was pulling into the Canal Street station, […]

Demolition Begins at Fire-Stricken Dim Sum Palace Building in Chinatown

Demolition started this week at 6 Chatham Square, which, until this month, housed neighborhood favorite Dim Sum Palace. Early morning May 1, a fire in the kitchen spread throughout the building, triggering a five-alarm response from the fire department. All told, five firefighters were injured battling the inferno over several hours. And according to Red […]