Despite the East Village not having power last week after Hurricane Sandy, EV Grieve reports that construction crews arrived at the empty lot on Avenue D and East 2nd Street. The 130,000-square-foot lot will be home to Alphabet Plaza, a 12-story, 135-unit mixed use apartment building with retail on the ground floor. The luxury units are expected to rent for $2,500 to $3,600 a month and will range in size from 500 to 1,000-square feet. The site consists of six lots, 5-9 Avenue D and 306-310 East 2nd Street, and the developer is Kahen Properties.
EVG points out that the architect listed on the DOB documents is Avinash K. Malhotra, the same firm that designed the currently uninhabitable 2 Gold. Given Avenue D's proximity to the East River, hopefully Malhotra and team will make Alphabet Plaza better protected against flooding than 2 Gold.
· Alphabet Plaza Ready to Rise on Avenue D [EVG]
· Forest Hills Property Owner Nabs LES Development Site from Beer Magnate for $21M [TRD]
· Residents of FiDi's 'Uninhabitable' Two Gold Scramble for Stuff [Curbed]