Real Estate Weekly
Image default
Deals & Dealmakers

Essex Street office space comes online

Delancey Street Associates launched leasing of 350,000 s/f of office space in Essex Crossing, the first significant block of Class-A office space available on Manhattan’s historic Lower East Side.

The office components of the overall Essex Crossing project will be housed within two mixed-use buildings, both of which will include a mix of residential, ground floor retail, outdoor amenity spaces, the indoor Broome Street Gardens, and the Market Line, a 700 ft. long, three-block marketplace which is slated to be one of the largest in the world.
One of the largest urban renewal projects in the city’s history, Essex Crossing will include 1,079 units of housing and a vast array of commercial and cultural space spread over nine sites.

The developer of Essex Crossing is Delancey Street Associates, which comprises Taconic Investment Partners, BFC Partners, and L+M Development Partners.

Cushman & Wakefield will serve as exclusive broker for the office space, which is anticipated to be delivered in 2020.
“Essex Crossing’s office space is designed for companies that want to be at the heart of the action in a neighborhood like the Lower East Side,” said Charles Bendit, co-chief executive officer of Taconic Investment Partners.

Today’s most cutting-edge companies – from a range of industries – are looking for ways to differentiate themselves and appeal to a millennial workforce. Essex Crossing’s location, amenities and vibe will make its office space an ideal place for those firms to do something no others have: plant their flag on the LES.”

“Top firms are increasingly drawn to mixed-use urban campuses because they offer not just new Class A space, but an array of amenities outside the office walls,” said Josh Kuriloff, executive vice chairman of Cushman & Wakefield. “Companies that call Essex Crossing home will experience the best of both worlds: large modern floorplates and private terraces coupled with an ecosystem of amenities unmatched at any office campus in the city. Notably, Essex Crossing will house the Market Line, a vast market covering three full blocks, featuring over 150 vendors and numerous three-story, light filled atria. Essex Crossing is strategically suited to welcome office tenants looking to make their mark in the city and give them an upper hand in today’s highly competitive recruitment battle.”

Essex Crossing’s office space, which will comprise 175,000 s/f in Office East (Essex Crossing Site 4) and 175,000 s/f in Office West (Essex Crossing Site 3), will be cutting-edge and amenity rich, including floor-to-ceiling windows on all four sides highlighting views of both Midtown and Lower Manhattan skylines, high ceilings, bike rooms with showers, exclusive outdoor terraces and lobbies, triple-height atrium gathering and event spaces, and direct access into the Market Line, which also connects tenants directly to the F, J, M and Z subway lines.

Without ever setting foot outside, tenants will be able to enjoy a range of amenities, including over 150 unique food offerings at the Market Line – a bazaar-like marketplace housing a mix of food, fashion and culture – from markets and prepared food, to a beer hall, to gallery and performance space.

The Market Line will also adjoin the new home of the 77-year-old Essex Street Market. Additionally, tenants will be able to directly access a new 14-screen Regal Cinemas via the Market Line.
Across the street, a new half-acre park designed by West 8, the firm behind the hills at Governors Island, will open in 2018.

The western edge of Essex Crossing will house the new home of the International Center of Photography (ICP) and a Splitsville Luxury Lanes bowling facility. ICP is expected to open in 2019 and Splitsville in 2018.
Essex Crossing will include a number of top-flight retail tenants that are scheduled to open in 2018, including Target and Trader Joe’s.

Related posts

Mixed-Use Building at 430 Main Avenue, Norwalk, CT, Sells for $6,000,000


Coldwell Banker Realty Announces Grand Opening Of New Boutique Rental Building Aspira Jersey City


Gencom-Led Partnership Executes Sale of etc.venues to New York-Based Convene