NEW YORK | 260 South Street | 798 + 728 FT | 69 + 62 FLOORS


#1

“Pre-Applications” Show 2100 Apartments, 1.7 Million sf Coming to Two Bridges Area

Documents obtained through a Freedom of Information Law (FOIL) request reveal preliminary plans for two new residential projects along the East River that would dwarf anything built on the Lower East Side in a generation or more.

Taken together, the buildings would add more than 2100 residential units and 1.7 million square feet to the Two Bridges neighborhood. That’s twice as many apartments and nearly the same square footage planned in the big Essex Crossing project, which is often referred to as one of the most significant real estate projects in New York City.

The FOIL request was submitted to the Department of City Planning by State Assembly member Alice Cancel, who has been collaborating with local residents concerned about over-development. While developers have acknowledged the existence of the projects in the past, we’re now getting our first real look at the potential scale of their plans.

The details are included in “pre-application statements” submitted to the city earlier this year. It should be noted that these documents only offer glimpses of developers’ early plans. Their proposals could change dramatically in the months ahead.

The pre-application statement for 260 South St. was filed in January of this year. L+M Development and the CIM Group (Two Bridges Associates LP) spelled out plans for a 1.1 million square foot building on a site now used for parking. There would be 1400 apartments, including 350 affordable units. The parking spaces, part of the adjacent residential building (Lands End II) would be relocated in a lower level lot. The document states, “The proposed development would also enlarge the (existing) ground floor retail fronting Cherry Street and improve the open space amenities along Rutgers Slip.” The proposed building would rise to 66 stories, or 718 feet.

Two other projects, Extell Development’s 80-story mega-tower and a 77-story rental building by JDS Development, will create about 1600 apartments in the immediate area. Local elected officials have asked the Department of City Planning to put all of the proposals through the Uniform Land Use Review Procedure (ULURP). If the agency agrees, the local community board, borough president and City Council would be able to weigh in on the impacts in the neighborhood. Taken together, the projects would add 3700 apartments to a three-block stretch along the waterfront.

This morning, we contacted Two Bridges Associates about its upcoming development plans at 260 South St. A spokesperson said:

Our goals for this project include a number of meaningful community amenities and infrastructure improvements, as well as the preservation of existing affordable housing and the creation of new affordable housing. Planning for the project is still in the early stages. We look forward to sitting down with community stakeholders very soon to begin what we hope will be a productive, collaborative process over the coming year as our project undergoes environmental review.

As for the Starrett Corp., spokesperson Jordan Isenstadt told us:

The development of our site at South Street and Clinton Street is in an exploratory phase. While still in the very early stages of planning, our goal is to answer Mayor de Blasio’s call to provide affordable housing, strengthen the community and fulfill a long-standing desire to better utilize a site that has been earmarked for development for decades. We look forward to a transparent and collaborative process as our plans advance.

Meanwhile, Assembly member Alice Cancel said she is still reviewing the pre-application statements. The documents, she said, will allow the community to assess the developers’ plans and decide how to respond. “We need to map out a stretegy,” she added “to protect the neighborhood.”


#2

I found it super hard to believe when SHoPs tower was being built in the two bridges area, but this is going to be crazy in that area. Add like three more towers and you’ve got a whole new area of NYC.


#3

I agree.

Just a recap of the pipeline and u/c near these parcels.

  1. One Manhattan Square at 80 floors: U/C
  2. JDS tower which is slightly over 300m or 1000 ft.
  3. 260 S. Street at 66 floors
  4. 271-283 S. Street at 60 floors.

I think depending on the ceilings and type of unit, I think if it appeals to affordable housing and the under $3 million market, #3 to #4 could be 650 to 750 ft or so. But just for sake of speculating, it will greatly change the aesthetics of the area. Not to mention it will act as a catalyst for future growth. Think HY only on the LES in terms of residential. One pops up, and more grow like wildflowers.


#4

Nice!


#5

Isn’t that Extell’s Cherry St project but with the alternAte South St address?


#6

Nope, I don’t think so, It is just north to it though. The density is going to be INSANE in the area. One behemoth next to the other. Never expected this amount of density.
However it does look uncomfortably similar to Extells project… I hope this is only a massing?


#8

Lower East Side Skyline Could Look Like This

Developer pre-proposals obtained by a local blog depict a potential future skyline.


#9

Wow! This is the Age of Ramses!


#10
L+M Development Partners and the CIM Group are unveiling plans tonight for a new project at 260 South St. that will add more than one-million square feet of residential and commercial space in the Two Bridges neighborhood. The development team outlined the proposal for two towers, the tallest measuring nearly 800 feet, in an interview with The Lo-Down earlier this week. They briefed local residents in a neighboring complex, which the developers also own, this evening.
The massive complex is one of four large-scale projects set to transform the Two Bridges community in the next several years. It will include up to 1350 apartments, as many as 338 of the units set aside for low-income and/or middle-income families. Some senior housing is anticipated. The developers also plan new ground floor retail on Cherry Street, new green spaces and upgraded flood protection systems.
L+M and CIM Group partnered in 2013 to purchase 265-275 Cherry St. (also known as Lands End II), Section 8 rental towers with 490 apartments. The following year, they picked up an adjacent parking lot on South Street, which is where the new towers are going to rise.
In our interview Wednesday morning, David Dishy, L +M partner and president of development and acquisition; Katherine Kelman, L+M associate director; and Alex Kafenbaum, associate with the CIM Group walked us through preliminary details of the ambitious project. 
In recent years, L+M Development has become a familiar presence on the Lower East Side. It’s part of the partnership building the large Essex Crossing project on Delancey Street and has other developments in-the-works throughout the East Village. CIM Group is a Los Angeles-based firm that has become a major player in New York City during the past few years. Among other projects, it’s building condos at 100 Barclay St. and 432 Park Avenue.
Handel Architects, tasked with designing the new project, is still working on concept drawings for the two skinny towers. In the meantime, the developers are making available sketches depicting the overall size, shape and positioning of the buildings.
As you can see in the illustration posted here, the larger tower will measure 798 feet, or 69 floors. The shorter tower will top out at 728 feet, or 62 stories (the number of floors could change based on conversations with city planning officials). 
“The overall concept,” explained Kelman, “is that it’s two slender towers on a shared podium with a single lobby.” The towers start out 60-feet apart and there are a series of setbacks as they rise. On the upper floors, the distance between the buildings grows to 75 feet. “They’re intentionally differentiated,” she said, “to create some visual interest.”
The team looked at building a single structure stretching across most of the lot on South Street, but concluded that it would have blocked light and views to the East River, in her words, “diminishing the quality of the entire site.” It also would have made the open recreational spaces on the property a lot less appealing. “So, instead we decided on two towers,” said Kelman, “with space between them and a lobby with a ground floor that has a lot of transparency (allowing people on Cherry Street to see through to the river).”

Credit: http://www.thelodownny.com/leslog/2016/12/lm-and-cim-group-reveal-plans-for-massive-project-in-two-bridges-area.html


#11

Changing title to: NEW YORK | 260 South Street | 798 + 728 FT | 69 + 62 FLOORS

See article and diagram above.


#12


#13

I am now watching this and bookmarked this project!


#14

if all of these projects get built LES is going to be completely transformed.


#15

http://www.boweryboogie.com/2017/07/not-done-deal-pols-push-city-planning-deny-waterfront-supertalls-two-bridges/


#16

#17

This was approved by city planning! :beers:

Both components or both towers which count as a single development.

The future of the LES looks to be big and beautiful.


#18

Via NY ZAP search (screenshot)


#19

It sounds like these towers will all be rentals which makes sense since I’ve offhandedly been told by several people who are a lot smarter than me that the condo market (at least the high end of the luxury condo market) is definitely soft.

That’s interesting to see CIM is one of the developers. They’ve been gaining more of a foothold in Manhattan after historically being known as a West Coast developer.


#20

terrible area for anything “luxury” anyway


#21

Well I’d prefer it if these parts of the LES aren’t left to remain terrible forever. Development like this can help raise up long derelict areas.