Delancey Street Associates Achieves Important Project Milestone
Delancey Street Associates announces the topping out of 242 Broome, the first condominium building within Essex Crossing, a planned mixed-use development comprising residential, office, retail, cultural and community space on Manhattan’s Lower East Side. The topping out of the 14-story, 55-unit luxury building represents a key milestone in the construction of Essex Crossing, one of the most significant urban renewal developments in the history of New York City. Delancey Street Associates comprises BFC Partners, L+M Development Partners and Taconic Investment Partners.
“We’re thrilled to announce that 242 Broome is one step closer to completion,” said Charles Bendit, Co-Chief Executive of Taconic Investment Partners. “Residents will soon have access to a modern residential experience that celebrates the liveliness and grit of the Lower East Side, with all the conveniences that Essex Crossing has to offer at its doorstep. We look forward to opening 242 Broome’s doors in early 2018.”
Powerful and sculptural in form, 242 Broome stands as a testament to the ongoing evolution of its neighborhood. Designed by SHoP Architects, the firm behind Barclays Center in Brooklyn, the building features a champagne-colored façade of anodized aluminum, with bends and angles in the metal that resemble the iconic fire escapes of the neighboring tenement buildings. Starting at the fifth floor, the building shifts slightly westward, allowing for dramatic views, natural light and maximum privacy.
At the building’s entrance, the pulse and energy of the Lower East Side gives way to a modern reception area with a 24-hour concierge. Here, elevators ascend to the luxury residences, which start on the fifth floor and range from one to three bedrooms. Each of the three penthouses features fireplaces and access to its own private rooftop terrace with dramatic skyline views. The residences’ spacious, open floor plans are flooded with light from the large windows, with carefully calibrated views that are the result of the sun-tracking torque of the residential floors.
The interiors, designed by DXA studio, present a subtle palette of rich materials, including white oak, grey-veined marble and warm-toned millwork. The kitchens feature custom-designed walnut cabinetry and Calacatta marble countertops, backsplashes and islands, in addition to a full suite of Gaggenau appliances. Clad in honed marble, each master bath is punctuated with radiant floor heating and a custom-built vanity with walnut drawers, topped with a single slab of polished marble. Polished chrome Dornbracht fixtures are found throughout.
The amenities at 242 Broome provide a series of spaces designed for socializing, wellness and relaxation. In addition to a private fitness center, residents of 242 Broome will have access to an entertainment lounge that can be used to host a dinner party, with seating for up to 18 guests in the kitchen and dining area. The space is also replete with a pool table and an adjoining children’s playroom. A landscaped and furnished rooftop includes grills for outdoor dining and entertaining amid striking views of the Manhattan skyline.
242 Broome sits at the corner of Broome and Ludlow Streets on the Lower East Side, a vibrant neighborhood that is rapidly becoming one of the most desirable places to live, dine, shop and play.
The $1 billion Essex Crossing project includes nine sites on six acres across the Seward Park Urban Renewal Area, an area that has sat mostly vacant since 1967.
At the heart of Essex Crossing is the Market Line, a planned multi-level bazaar-like marketplace. The Market Line will span three city blocks encompassing 150,0000 square feet, making it one of the largest marketplaces in the world. In addition to a diverse mix of local arts, fashion and food tenants and a subterranean beer hall, the Market Line will connect to the new home of the historic Essex Street Market.
Essex Crossing will also include 900,000 square feet of commercial space, including a Regal Cinemas, Trader Joe’s, a public park designed by renowned landscape architecture firm West 8, and 350,000 square feet of Class A office space. 242 Broome itself will house a 17,000-square-foot bowling alley and entertainment venue called Splitsville Luxury Lanes in the basement, and a 15,000-square-foot cultural facility at the base.
Douglas Elliman Development Marketing is the exclusive sales and marketing agent for 242 Broome. The sales gallery is located at 92 Orchard Street. Current pricing begins at $1.6 million for a one-bedroom with occupancy slated for 2018. For additional information or to schedule an appointment, please call (212) 254-0242 or visit www.242broomenyc.com.
