Following the announcement that it will be the new home of the International Center of Photography (ICP), 242 Broome, the first condominium within Essex Crossing on the Lower East Side, has released that the project is now 50% sold, according to developer Delancey Street Associates. 25% of the building has sold in the past five months alone, showing steady, sustained velocity as the property approaches occupancy in early 2018. Buyers at 242 Broome will receive a complimentary, one-year ICP membership, which includes free admission to the ICP Museum and discounts and special incentives for ICP courses, workshops, lectures and public programs. Residents will also enjoy members-only exhibition openings, events, and private curatorial walk-throughs, among other perks. The 14-story building, designed by SHoP Architects, topped out in April and last week PROFILEnyc took a private tour of the construction site which is fast coming together (November 2017). The tour revealed large units with oversized windows that allow tons of light to enter the units while still positioned in a way to provide privacy from neighboring buildings. Views from the roof deck and upper units offer immaculate views of the Manhattan Skyline, Brooklyn and the Financial District.
“The relocation of the International Center of Photography to 242 Broome has proven to be a major draw for buyers at the building,” said Colleen Wenke, Senior Vice President of Taconic Investment Partners. “This premier cultural institution presents thought-provoking and highly respected exhibitions as well as a wide range of public programming. ICP also offers classes and workshops that can further enhance the experience of residents.”
ICP’s new location will include an at-grade lobby, and the entire second and third floors of the building. The center spans the entire block, from the major thoroughfare of Essex Street, where a large gallery overlooks and is visible from the city through a glass curtain wall, to Ludlow Street, where a veil of folded aluminum panels creates a subtle shadow pattern appropriate to the intimate side-street scale. A staircase known as the "Soho Stair," rises between the residential component of the development and the ICP and unites the two portions of the building as well as links the galleries to the street below.
242 Broome features 55 luxury residences, as well as a collection of modern amenities including a landscaped rooftop with sweeping skyline views and outdoor grills, private fitness center, entertainment lounge, billiard room, and children's playroom. The development is part of Essex Crossing, a planned mixed-use development comprising residential, office, retail, cultural and community space by Delancy Street Associates; a partnership between BFC Partners, L+M Development Partners and Taconic Investment Partners. The $1 billion project includes nine sites on six acres across the Seward Park Urban Renewal Area, an area that has sat mostly vacant since 1967. Douglas Elliman Development Marketing is the exclusive marketing and sales agent for 242 Broome. The sales gallery is located at 92 Orchard Street. Current pricing begins at $1.6 million for a one-bedroom, $2.5 million for a two-bedroom and $3.925 million for a three-bedroom. 242 Broome is currently six months from occupancy and is expected to offer an anticipated 421-a tax abatement. Photos via QuallsBenson.
