Five Months After Debut, Luxury Rentals Development ‘The Jones’ is for Sale

Posted on: May 13th, 2016 at 5:09 am by
This image has been archived or removed.

In keeping up with the Jones, we discover that not all is great at 331 East Houston Street.

Barely five months after its inauguration, that newfangled thirteen-story luxury residential building is looking for a sugar daddy. The Jones, as the development is dubbed, is currently on the market for an undisclosed sum.

Apartments in this residential tower range in price from $3,900 (1BR) to $9,400 (3BR). Below is the official broker babble. Note the potential for condo conversion.

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of The Jones L.E.S., newly developed, luxury rental building located on an L-shaped lot fronting East Houston and Ridge Streets on the border of the East Village and Lower East Side. The 13-story, 78-unit building features a hotel-style lobby attended 24-hours a day, library, fitness center, private garden, and landscaped roof deck. The unit mix consists of 24 studios, 40 1-bedrooms, 13 two-bedrooms, and a single three-bedroom unit featuring a balcony on the 13th floor. All residences feature oversized casement style windows with solar shades, oak flooring, custom Italian satin cabinetry, Ceasarstone countertops, stainless steel appliances, modern designed bathrooms, and washers and dryers.

Of the 78 units, 62 can be rented at market rates and 16 are designated affordable. The property is located within short walking distance of the F train stop and East River Park. There is future upside as a potential condo conversion in an area that will be bolstered by Essex Crossing, a 1.9 million square foot development located only three blocks south.

The Jones sprouted, at least partially, from the ashes of a one-story laundromat near the corner of Ridge Street, demolished three years ago. It sits on an L-shaped parcel.

This image has been archived or removed.

331 East Houston, July 2014

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 […]