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Deals & Dealmakers

NYU Langone signs 55,000 s/f lease at Essex Crossing

Delancey Street Associates today announced that NYU Langone Medical Center has signed a 15 year lease to build and operate a 55,000-square foot medical facility at 175 Delancey Street, part of Essex Crossing. The overall six-acre project comprises nine sites on Manhattan’s Lower East Side and is being developed by Delancey Street Associates, which includes BFC Partners, L+M Development Partners, and Taconic Investment Partners.

“We know that access to quality medical care is important to this community, and we’re proud to partner with NYU Langone to provide a first-rate medical facility as part of Essex Crossing,” said S. Andrew Katz, a Principal at the Prusik Group, a partner on the development team.

NYU Langone ’s Joan H. and Preston Robert Tisch Center at Essex Crossing will be located near the Delancey Street entrance of the Williamsburg Bridge. Expected to open late 2018, the site will span three floors and will provide a comprehensive array of services, including urgent care and multi-specialty physician practices.

“We are excited to be a part of this project and are looking forward to bringing a world class ambulatory care center  to this rapidly expanding neighborhood,” said Vicki Match Suna, AIA, senior vice president and vice dean for real estate development and facilities at NYU Langone.

In addition to the medical facility, the building will include a 13,000-square foot community center run by Grand Street Settlement, a 4,000-square foot outdoor garden, and 6,000 square feet of retail space, as well as 100 affordable senior rental units.

Through its new senior center, GSS will expand their local programming, events, and services. The building will also include a 24,000-square-foot educational facility.

Previously known as the Seward Park Urban Renewal Area and one of the largest community renewal projects in New York City, the multi-year Essex Crossing project will result in 1.87 million square feet of multi-family rentals, office space, community space, a Regal Cinemas movie theater, a Splitsville Luxury Lanes bowling alley, a Planet Fitness gym, residential condominiums, a public park, a new Essex Street Market, and a cultural facility. Half of the 1,000 apartments will be affordable for low, moderate, and middle-income residents.

Another highlight of Essex Crossing will be the Market Line, a 700-foot-long public market spanning three city blocks.  Anchored by a new home for the 75-year-old Essex Street Market, the Market Line will consist of 120,000 square feet of micro-retail ideally suited to the Lower East Side’s diverse retail and culinary scene. With 60-foot ceilings, elevated gardens, and sub-street passageways connecting the three blocks, the Market Line will be New York City’s premier market place in the heart of one of the city’s most popular neighborhoods.

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