The next wave of Lower East Side gentrification is on. That’s no surprise to longtime neighborhood dwellers, who have watched as LES institutions like Streit’s Matzo Factory on Rivington Street, or a whole patch of low-rise restaurants along Houston, give way to new condos whose price per square foot broaches $2,000, and rentals that are equally unobtainable.
The area’s growing trend towards high-end residential units bucks decades of the neighborhood’s existence—as a landing place for immigrants around the turn of the 20th century, and as a place of respite for those who couldn’t afford surrounding neighborhoods like Soho and Nolita, whose prices have long since surpassed those of the Lower East Side.
So what does this new future hold for the Lower East Side? Check out some of the new residential developments in the works, and what they replaced, below.
Note: This article was originally published in July 2017 and has been updated with the most recent information.Read More