“It’s a 55-unit, condo building that maintains a boutique feel,” Ben Baccash, Taconic Investment Partner’s assistant vice president, told MHN. “We have a pretty spectacular amenity package and the building offers really incredible views of Manhattan and Brooklyn.”
Six Acres of Development
Essex Crossing is a redevelopment project that’s been 50 years in the making. Its 1.7 million-square-foot master plan is set to add roughly 1,000 new units once all buildings are completed.
Developed by Delancey Street Associates, which comprises Taconic Investment Partners, BFC Partners, L+M Development Partners, Goldman Sachs and the Prusik Group, the $1.5 billion Essex Crossing project consists of nine sites spanning six acres.
242 Broome Setting the Scene
Designed by SHoP Architects with interiors done by DXA studio, the first condos in the area topped out in April and is approximately 65 percent sold.
Unit kitchens feature Gaggenau appliances housed in custom-designed walnut cabinetry, with polished Calacatta marble countertops, backsplashes and islands included. Master baths include polished Dornbracht fixtures and custom-built walnut vanities with deep drawers.
Amenities in the building include an entertainment lounge, children’s playroom, private fitness center and a formal dining area large enough for 10. It also offers a furnished rooftop, complete with and outdoor kitchen. Views from the roof look out onto the Manhattan skyline.
“We have a great lounge where if people want to rent it out and use for Thanksgiving dinner or a cocktail party, they can certainly do that,” Baccash said. “And the gym is on the fourth floor, above ground, which you don’t often see in new development. It has state-of-the-art equipment, a cardio area and a function fitness area as well.”
The building boasts a champagne-colored façade of anodized aluminum, and the design scheme calls upon the iconic fire escapes of the neighboring buildings with bends and angles in the metal. Thanks to a twist in shape beginning with the fifth floor, the higher floors offer dramatic views and plenty of natural light.
According to Baccash, 242 Broome is in a dynamic neighborhood that is quickly becoming one of Manhattan’s most popular places to live, dine, shop and play.
“It’s located at the corner of Broome and Ludlow Streets on the Lower East Side, which is characterized by small, boutique shops, new art galleries, and great restaurants in a predominantly low-rise streetscape,” Baccash said. “It’s a really charming part of the city. Once people discover it, they spend a lot of time here.”
The condo’s residents are close by numerous dining and entertainment options on the Lower East Side, including The Market Line, an expansive bazaar-like marketplace that is scheduled to open this fall.
The International Center of Photography will be housed in the building, and there are plenty of art galleries and museums within walking distance.
Douglas Elliman Development Marketing serves as exclusive marketing and sales agent for the building.