Steel beams and the concrete core are now a couple stories above street level on the 25-story, 195-unit mixed-use project under development at 115 Delancey Street, located between Essex and Norfolk streets on the Lower East Side. Progress can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the new building will encompass 489,688 square feet and rise 315 feet to the top of its parapet.
There will be 139,493 square feet of commercial space located across the cellar through fifth floors. Retail will occupy parts of the cellar, ground and ground-floor mezzanine levels, all of which will be associated with the 150,000-square-foot multi-level retail experience called the Market Line, which will connect to the new Essex Street Market. A Regal Cinema will take up parts of the ground through fifth floors of this building.
Residential units will be located across the sixth through 25th floors. The apartments, rentals, should average 849 square feet apiece, and half of them will rent at below-market rates through the housing lottery. Delancey Street Associates, comprised of L+M Development Partners, Taconic Investment Partners, and BFC Partners, is the developer. Handel Architects is the architect. The project, part of the Essex Crossing mega-development, is slated for completion in 2018.