Real Estate

Essex Crossing Preps New 9-Story Development with Brownfield Cleanup

Posted April 28, 2022 at 5:01 am

The next phase of Essex Crossing is upon us. Delancey Street Associates, the developer consortium behind the billion-dollar Lower East Side project, recently submitted an application to the state for Brownfield Cleanup at Site 9 (aka 120 Essex). This will spell the end of the decades-old Essex Street Market building just north of Delancey, which […]

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Activity at Starrett’s Waterfront Site, Future 70-Story Development

Posted April 27, 2022 at 5:09 am

Here we go. The first signs of future foundation activity are now visible near the corner of Clinton and South Streets. It is here that the third of four super-tall skyscraper developments will rise in the coming years. As previously reported, Starrett Corp. obtained permits two weeks ago for foundation activities beneath for its seventy-story […]

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‘Nine Orchard’ Hotel Readies Springtime Opening After 10 Years of Construction

Last modified April 26, 2022 at 8:19 pm

Nearly a decade on, the Jarmulowsky Bank Building is finally transformed. The fourteen-story landmark structure will soon welcome guests, not as a financial institution, but as a boutique hotel called Nine Orchard. Described as a hotel “Blending historic architecture with elevated design and contemporary art,” Nine Orchard will begin reservations for its 116 rooms on […]

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Hell Square High: More than a Dozen Cannabis Shops Selling in Small LES Area

Last modified April 25, 2022 at 7:03 am

Growing like weeds. The proliferation, and concentration, of cannabis stores on the Lower East Side is real. Overrun would be the proper descriptor. One need only look to Hell Square, the chaotic party zone encompassing the sixteen-square-block area spanning Allen to Essex and Houston to Delancey. Not including the roving trucks, there are at least […]

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Starrett’s 70-Story Tower Can Proceed with Foundation Work

Posted April 19, 2022 at 5:06 am

It’s a frenzy on the Lower East Side waterfront, where two developers are rushing to pour foundations, allegedly to take advantage of expiring 421a tax exemptions. Last week, the Department of Buildings issued permits to the Chetrit Group for excavation and foundation activities related to their two-towered, 70-story behemoth at 265 South Street. Days later, […]

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Excavation Work Prepped at Two Bridges Development Site for New Towers

Posted April 15, 2022 at 5:03 am

No sooner were excavation permits issued than worksite preparations began on a controversial South Street development along the Lower East Side waterfront. Indeed, Department of Buildings on Tuesday issued official approval to the Chetrit Group to begin foundation activities for its dual 70-story tower at 265 South. By yesterday evening, a perimeter fence was in […]

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Department of Buildings Issues Foundation Permits for 70-Story Tower on South Street

Posted April 13, 2022 at 5:01 am

The controversial 70-story tower slated for the Lower East Side waterfront received a major boost this week. Department of Buildings yesterday issued permits for the gargantuan foundation at 265 South Street, thus allowing owner-developer Chetrit Group to take advantage of the 421a tax exemption which is set to expire June 15. The applications for the […]

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Activists Arrested as City Cuts Down Cherry Trees in Corlears Hook Park

Posted April 12, 2022 at 5:03 am

Cherry Trees are in full bloom inside Corlears Hook Park, yet doom has befallen. The chainsaws are out, as are the activists to protest. At least two activists were arrested yesterday afternoon attempting to stop workers from cutting down the trees. This work was initially slated to transpire over the weekend, but was delayed. We’re […]

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Two Bridges Groups Demand DOB Deny Chetrit Special Permission to Build 70-Story Tower Under 421-a

Last modified April 12, 2022 at 10:44 am

Mere days after securing $70 million in funding comes word the Chetrit Group is appealing to the city for special permission to pour foundations for its super-tall waterfront towers, before the project overall is approved. Locals are diametrically opposed, alleging this as an attempt to capitalize on the 421-a tax break before it expires. Neighborhood […]

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Chetrit Closes on $78M Purchase of 70-Story Two Bridges Development Site

Posted April 7, 2022 at 5:02 am

The deal is done. Developer Joe Chetrit is officially part of the Lower East Side waterfront. Thanks to a $70 million loan from Madison Realty Capital, Chetrit acquired the CIM/L+M parking lot development parcel behind the Lands End II residential complex back in the fall. The deal closed last Friday for $78 million. (Prior reports […]

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