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Deals & Dealmakers

New Empire Corp. Celebrates Sales and Construction Milestones at New Lower East Side Development, 208 Delancey

 New Empire Corp. (NEC), a cutting-edge New York City development and construction management firm, today celebrated sales and construction milestones at their newest Manhattan development, 208 Delancey. So far this month, New Empire Corp. sold six units in the highly anticipated condominium building, which secured the building’s recognition as a top selling project according to Marketproof. Another eight condominium units were sold last month which accounted for a significant portion of total Manhattan sales in August. Additionally, the firm recently wrapped construction on the property and is on track to receive their Temporary Certificate of Occupancy (TCO) within the next month.

208 Delancey is a one-of-a-kind 12-story, 85-unit condominium building that combines a striking exterior with luxurious and airy interiors to bring an organic beauty to everyday life. Even before construction wraps, price per square foot ranges from $1,700 to $2,400 depending on the layout of the unit, flooring type, and city views. For those looking for move-in ready residences, New Empire Corp. offers buyers customized furnished units which includes a free design consultation and 3D rendering for an added cost.

“This is an important construction milestone achievement as we look to wrap up development at 208 Delancey, and we are delighted to see this level of sales activity before the property’s grand opening,” said Bentley Zhao, New Empire Corp.’s Chairman and Chief Executive Officer. “When selecting the site and carefully crafting each design element, our team kept in mind the desires of prospective tenants including spacious open floor plans, and high-quality indoor-outdoor living spaces at an optimal price point. We believe these sustained sales solidify 208 Delancey’s position as New York City’s premier condominium residence.”

Developed by New Empire Corp. and designed by ODA New York, 208 Delancey was designed to capture sunlight and highlight the building’s stunning New York City skyline views. The building’s exterior features curved brick corners and windows as well as numerous balconies wrapped in reflective paneling, while 208 Delancey’s airy, modern, and sophisticated interiors bring a subtle blend of natural materials, superior custom millwork, and premium finishes to each condominium. Residents will enjoy spacious, open-plan living areas designed in a light-toned color palette.

The building’s robust offering of indoor and outdoor amenities was designed to not only be extensions of the condominium residences but also foster a sense of community and overall wellness. In addition to an attended lobby, the building features a spacious parlor lounge with direct access to a private landscaped courtyard, a double-height residential lounge with a dining area, pool table, catering kitchen, fitness center with Technogym equipment, pet spa with grooming equipment, as well as conferencing and co-working spaces. As for the outdoor spaces, the meditation terrace is the perfect location for yoga while the landscaped rooftop offers lounging and dining areas, kitchen, fireplace, and grilling area.

“208 Delancey continues to see steady sales, accounting for a large portion of last month’s Manhattan sales. Ahead of the building’s anticipated closing in October, our team remains attuned to New York City’s residential market trends, allowing our firm to continue a high level of activity and to work to bring attainable luxury to prospective tenants,” said Emily Zhu, New Empire Corp.’s Head of Marketing Strategy.

Located in the heart of Manhattan’s Lower East Side, 208 Delancey is a stand-out residence in one of New York City’s most vibrant neighborhoods. With some of the city’s best offerings just outside the building’s front door, residents will enjoy a rich mix of traditional and artisanal dining, shopping, and entertainment options. Some of the best outdoor attractions the local community has to offer are in close proximity including the East River Waterfront, Essex Market, and local recreational gems such as the Brian Watkins Tennis Center and the East River Park. For those looking for quick access to major means of transportation, look no further. Subway access is only steps away and the building offers quick access to the Williamsburg Bridge and the FDR.

In addition to these sales and construction milestones, the developer continues to be extremely active in the New York residential market. This summer New Empire Corp. acquired a new condominium development site in Woodside, Queens for $16.2 million. Located at 58-01 Queens Boulevard, the 19,000 square foot (sqft) rare corner development site will accommodate up to 120 one- and two-bedroom units offering luxe designs at modest prices.

New Empire Corp. also acquired a 9,000 sqft development site located at 24-01 Queens Plaza North for approximately $26 million earlier this year. ODA New York will serve as the architect on the project. Amenities include a penthouse resident lounge, outdoor space, parking, and a fitness center. The firm is expected to break ground on the 100+ unit condominium development in early 2023. The firm additionally acquired 429 2nd Avenue in Kips Bay, which is expected to break ground in the coming months.

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