242 Broome, the first condominium within the highly-anticipated Essex Crossing development on Manhattan’s Lower East Side, has officially commenced closings and is now open to residents. The 14-story project topped out in April and is over 65% sold. 242 Broome was developed by Delancey Street Associates and was designed by SHoP Architects with interiors by DXA Studio.
“We’re thrilled to welcome the first residents of 242 Broome to their new home,” said Ben Baccash, Assistant Vice President of Taconic Investment Partners. “As Essex Crossing continues to take shape, residents will have access to an array of dining and entertainment options, including The Market Line, an expansive bazaar-like marketplace that is slated to open later this year. Residents will also be able to enjoy the Lower East Side’s art galleries, museums and the International Center of Photography, which will be housed in the building.”
242 Broome features 55 luxury residences, as well as a collection of modern amenities including a landscaped rooftop with sweeping skyline views and outdoor grills, private fitness center, entertainment lounge, billiard room, and children's playroom. 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 buildings. Starting at the fifth floor, the building begins to twist in shape slightly westward, allowing for dramatic views, natural light and maximum privacy.
242 Broome is part of Essex Crossing, a planned mixed-use development comprising residential, office, retail, cultural and community space by Delancy Street Associates; a partnership between BFC Partners, L+M Development Partners and Taconic Investment Partners. The $1 billion project includes nine sites on six acres across the Seward Park Urban Renewal Area, an area that has sat mostly vacant since 1967. Douglas Elliman Development Marketing is the exclusive marketing and sales agent for 242 Broome. The sales gallery is located on-site with a 2-bedroom model residence. Douglas Elliman Development Marketing is the exclusive marketing and sales agent for the property with pricing starting at $1,685,000 for a one-bedroom, $2,725,000 for a two-bedroom and $4,750,000 for a three-bedroom. 242 Broome is now offering immediate occupancy and is anticipating 421-a tax abatement.
Delancey Street Associates recently formalized a partnership with ICP and Make it Nice, the hospitality group of Eleven Madison Park co-owners Will Guidara and Daniel Humm, to host private events on the top two floors of ICP’s new home. Buyers at 242 Broome will also receive a complimentary, one-year ICP membership, which includes free admission to the ICP Museum and discounts and special incentives for ICP courses, workshops, lectures and public programs. Residents will also enjoy members-only exhibition openings, events, and private curatorial walk-throughs, among other perks.
Photos via QuallsBenson