Jones L.E.S, 331 East Houston Street: Review and Ratings

Review of 331 East Houston Street by Carter Horsley

This attractive, 13-story apartment building at 331 East Houston Street between Attorney and Ridge streets was erected in 2015 and has 78 rental units of which 20 percent are "affordable." 

It was developed by East Houston Development and designed by the Stephen B. Jacobs Group. 

This development is called Jones L.E.S. 

According to a May 24, 2017 article by Mark Maurer at therealdeal.com, Samy Mahfar’s SMA Equities and Halpern Real Estate Ventures were in contract to sell a 13-story Lower East Side rental building they developed in 2015. 

In 2012, the developers acquired two parcels for $8.4 million from the estate of William Gottlieb and the other two for $4 million from landlord Michael Albano. The project was said to cost about $40 million - $26.1 million of which came from Signature Bank and the rest the developers invested. 

The article said that Gili Haberberg, a multifamily investor who runs Arkar Inc., is paying about $61 million for the 67,600-square-foot elevator building.  Sources said Haberberg is making the purchase as part of a 1031 exchange with rental properties he is selling in the Bronx. 

It sits atop Jones Hill where the gardens and estate of Judge Thomas Jones stood in 1776 when it was the highest point on the Lower East Side.  

Bottom Line

An elegant grey brick, mid-rise, mid-block building with an entrance marquee and handsome multi-paned windows on Jones Hill on the Lower East Side.

Description

The building has a grey brick façade with broad, multi-paned windows. 

It has an entrance marquee and a concierge station in front of a grafitti wall. 

The building has setbacks at the 10th and 12 floors.

Amenities

The building has a full-time doorman, an attended lobby, a landscaped roof deck with an outdoor screening area, a misting shower and dining and grilling area, a fitness center, a bicycle room, a library and a garden. It is pet-friendly.

Apartments

Apartments have solar shades, natural finish oak floors, Italian satin finish kitchen cabinetry with soft close features. 

Penthouse D is a three-bedroom unit with an entry that opens onto a 26-foot-long living/dining room with an open kitchen and a broad terrace that is also accesible from one of the bedrooms. 

Apartment 9F is a two-bedroom unit with an entry foyer next to an open kitchen with a breakfast bar and an 18-foot-long living/dining room. 

Penthouse C is a studio unit with a long entry foyer that leads past an enclosed kitcfhen to a 12-foot-long living/dining room and a 10-foot-wide alcove. 

Apartment 2D is a one-bedroom unit with an entry foyer next to an open kitchen with a breakfast bar and a 16-foot-long living/dining room with a terrace.