Phase one of the Essex Crossing megaproject is edging toward completion on the Lower East Side, and the second phase is already coming into focus. One of the project’s rental towers—a 26-story building, named The Essex, and located at 125 Delancey Street—has just opened its 98 residences for renters.
Delancey Street Associates (DSA)—a joint venture between L+M Development Partners, BFC Partners, Taconic Investment Partners, the Prusik Group, and the Goldman Sachs Urban Investment Group—announced the leasing launch of the building, which happens to be the tallest of the nine-site development project. Designed by Handel Architects, the Essex features a mix of studios through three-bedrooms, with prices starting at $3,750/month.
The apartments come with much of the elegant finishes that are typical of pricey abodes these days. There are ceilings that soar up to 11 feet in height, engineered oak wood floors, double pane windows, kitchens with quartz countertops and stainless steel appliances, and a Bosch washer/dryer in each unit.
Amenities include a lounge with billiards, a library, a meeting room, a children’s playroom, a fitness center with Peloton bikes, and a rooftop terrace. One especially nice perk is a garden terrace on the sixth floor with hammocks, grills, and even a small urban farm.
If the aforementioned perks weren’t enough, the Essex boasts its own subway station for the F/M/J/Z lines; it’s also home to a new 14-screen Regal Cinemas theater that’s expected to open this year, along with the new home of the Essex Street Market and the Market Line.
With this latest milestone, seven out of the nine sites at Essex Crossing are either open or in its various stages of construction. Sales at SHoP’s 55-unit condo, 242 Broome, have crossed the 75 percent threshold; it’s also the new home of the International Center of Photography and a bowling alley, both of which will open later on this year. At the Rollins, located at 145 Clinton Street, nearly all of its 211 rentals are occupied and both Trader Joe’s and Target have debuted their newest NYC outposts here.
Douglas Elliman is exclusively handling leasing for The Essex and move-ins got underway in December.
Editor’s Note: The article has been updated to reflect changes made to rent prices at The Essex.