Real Estate Equities



Rendering of the roof deck at 196 Orchard Street. Credit: Williams New York

New Renderings for 196 Orchard on the Lower East Side

The Lower East Side is in the midst of a new era of transformation. The Streit’s Matzo Factory has moved, construction of Essex Crossing is humming along, a neighborhood-wide beautification project should reach its goal this summer, and the Lowline is moving forward. The Houston Street corner opposite an iconic deli is also getting a new neighbor, and now there’s a new look at that project.

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196 Orchard Street

Steel Rises for 11-Story, 94-Unit Mixed-Use Condo Building at 196 Orchard Street, Lower East Side

Back in December of 2015, updated renderings were revealed of the 11-story, 94-unit mixed-use building planned at 196 Orchard Street, on the Lower East Side. Steel beams are now being rising from the ground at the site, Bowery Boogie reported. The structure will encompass 178,376 square feet. There will be 38,452 square feet of commercial space across the cellar through third floors. Most of that space will be utilized by a three-story Equinox fitness center, which required a special permit from the Board of Standards and Appeals, and Community Board 3 will see the plans this month. Parts of the ground and cellar levels will also contain retail space. The apartments, which will be condominiums, begin on the fourth floor. Units will average 978 square feet apiece and will come in studios and one-bedrooms. The structure will be topped by a roof deck. Magnum Real Estate Group and Real Estate Equities Corporation are the developers, while Ismael Leyva Architects is designing. Incorporated Architecture & Design is responsible for the interiors. Completion is expected in late 2017.


196 Orchard Street

Reveal For Redesigned 11-Story, 94-Unit Mixed-Use Building At 196 Orchard Street, Lower East Side

Earlier this year, YIMBY revealed the initial design for a 10-story, 83-unit mixed-use building at 196 Orchard Street, on the Lower East Side, but now Magnum Real Estate Group and Real Estate Equities Corporation have made changes to the project. The Real Deal reports an 11-story, 94-unit structure is now planned. Ismael Leyva remains the design architect, while Incorporated Architecture & Design is designing the interior. Units will be condominiums, ranging from studios to three-bedrooms, and a 30,000 square-foot Equinox gym will be located on the ground and second floors. Over the last few months, demolition of the site’s low-rise predecessors has wrapped up, and excavation equipment has arrived. Completion is expected in the second half of 2017.


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