Waterfront Development

Excavation Begins for 70-Story South Street Towers

Posted May 16, 2022 at 5:02 am

Cranes, and plywood, and pile-drivers, oh my! Such is the story down on the Lower East Side waterfront. Department of Buildings on April 12 issued official approval to the Chetrit Group to begin foundation activities for its dual 70-story tower at 265 South. A month later, the big trucks are mobilized. While excavation is now […]

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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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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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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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Two Bridges Supertall Moves Closer to Happening in Lands End II Parking Lot

Posted February 22, 2022 at 5:01 am

Construction of the next super-tall on the Lower East Side waterfront is imminent. Residents of the Lands End II residential complex alert us to the digging of test pits in the rear parking lot, site of the future seventy-story development conceived by Two Bridges Associates, the partnership between L+M and CIM. The developers last October […]

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Chetrit Buys into Two Bridges Waterfront While Starrett Lists for $100M

Posted November 29, 2021 at 5:00 am

No longer hamstrung by the courts, the unbuilt Two Bridges towers on the Lower East Side waterfront are changing hands. In the span of a week, one of the three major developers sold its stake while another looks to do the same. Mere days before the Thanksgiving holiday, word broke that Joe Chetrit acquired the […]

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Developers File Permits for 70-Story Skyscraper on LES Waterfront

Posted October 1, 2021 at 5:01 am

And it begins. Again. The wall of glass slated to rise along the Lower East Side waterfront is another step closer to reality, as Two Bridges Associates – a partnership between L+M and CIM – this week filed paperwork with the city for its skyscraper. The seventy-story beast is to spawn in the parking lot […]

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