242 Broome Street, the first condominium offering in the Essex Crossing master plan, has now sold 50% of its 55 units. It's been a milestone-filled fall for the torquing tower. The sales team says 25% of all building’s sales took place in the past five months and in September, the champagne-colored façade was fully put in place. The Lower East Side has become one of the city's most in-demand neighborhoods, and the multi-phase Essex Crossing plan will bring in hundreds of new apartments, parks, shopping, entertainment, and dining.
Rendering of the International Center of Photography via Moso Studio
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242 Broome Street’s cutting-edge design by SHoP Architects provides spacious, light-filled residences with far-reaching views of the city. The building’s cachet rose even further when the International Center of Photography chose the building as the new home for its museum and school. “The relocation of the International Center of Photography to 242 Broome has proven to be a major draw for buyers at the building,” said Colleen Wenke, Senior Vice President of Taconic Investment Partners.
For the center, SHoP Architects designed a simple black box to provide an understated backdrop for the works of art within, and its space on the second and third floors of the building will overlook the most vibrant streets on the Lower East Side. “This premier cultural institution presents thought-provoking and highly respected exhibitions as well as a wide range of public programming. ICP also offers classes and workshops that can further enhance the experience of residents,” says Wenke. Residents of 242 Broome Street will receive a complimentary one-year membership and all the benefits and exclusive events contained therein.
For the center, SHoP Architects designed a simple black box to provide an understated backdrop for the works of art within, and its space on the second and third floors of the building will overlook the most vibrant streets on the Lower East Side. “This premier cultural institution presents thought-provoking and highly respected exhibitions as well as a wide range of public programming. ICP also offers classes and workshops that can further enhance the experience of residents,” says Wenke. Residents of 242 Broome Street will receive a complimentary one-year membership and all the benefits and exclusive events contained therein.
Great room via Douglas Elliman
Of the remaining residential spreads, one-bedrooms start at $1.6 million, two-bedrooms start at $2.5 million, and three-bedrooms start at $3.925 million. All apartments will feature open-plan living spaces, soaring ceilings, oversized windows, modern kitchens, and master suites with walk-in closet and luxe marble bath with radiant heat floors. A 421a tax abatement is expected, and amenities will include a rooftop deck, fitness center, entertainment lounge with kitchen, and children’s playroom. Occupancy is expected for early 2018.
In addition to the market-rate units, applications are being accepted for 11 affordable apartments. Households earning no more than 125% of the area median income are encouraged to apply for apartments ranging from $224,861 one-bedrooms to $331,703 three-bedrooms. Further information and criteria can be found here.
Common rooftop
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