242 Broome Street Rendering; Credit SHoP Architects
Over the years, SHoP Architects has proven they aren’t one-trick ponies. From the zinc-paneled Porter House to the soaring American Copper Buildings, the practice has expressed their versatility in an array of projects that each uniquely push the limitations of design and assembly in New York City. On the Lower East Side, SHoP has been tapped to design at least two buildings in their Essex Crossing Master Plan. Furthest along of the pair is 242 Broome Street at the northeast corner of Ludlow Street. The mixed-use building will hold the plan’s first condos and is being developed through a joint venture between Taconic Investment Partners LLC, L & M Development Partners, and BFC Partners.
Construction progress at 242 Broome Street as of mid-May; CityRealty
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Now topped out, the distinguishing feature of the stocky 14-floor building is its subtly-torqued facades and its champagne-colored anodized aluminum skin. The proportion of the windows and surrounding texture is meant to reflect the architecture of the tenement-filled neighborhood. Surprisingly, the building will be one of the first in the city that rotates as it rises —with Morris Adjmi’s 837 Washington Street being the first, and FXFOWLE’s 3 Hudson Yards being the next. 242 Broome's rotation begins on the fifth floor (where the condos start) and moves the south-facing Broome elevation westward, to provide better views and to improve light and privacy.
The first four floors of the tower will hold retail and commercial spaces, such as a bowling alley to be operated by Splitsville Luxury Lanes and 15,000 square feet space for a yet-to-be-named cultural facility. Interiors are designed by DXA studio and will present a calming palette of materials that include slab marble, blackened steel, and warm woods. Kitchens are equipped with Gaggenau appliances and walnut cabinetry while master baths feature radiant floor heating and polished chrome Dornbracht fixtures.
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Sales launched on the building’s 55 one- to three-bedroom residences late last year and nearly a third of its market rate units are now spoken for. The most noteworthy contract signed is for Penthouse A, a 2-bed, 2.5-baths spread listed for $5,250,000 ($2,487 per ft²). The larger, 3-bedroom Penthouse C is still available for $6.25M. As of late May, only two- and three-bedroom homes are available priced from $2.5 million.
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242 Broome’s amenities will be the usual high-end affair and include a 24-hour doorman/concierge, fitness center, lounges, and a communal landscaped rooftop terrace with outdoor dining. Additionally, the building will have superior access to Essex Crossing’s Market Line, which will be a sprawling food market, spanning more than 150,000 square feet across three blocks.
City Realty Downtown Index: Condos between Chambers and 27th Street have held steady over the year. See more of our indices in our market data section.
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