While Essex Crossing seems to bring a new announcement every week, the mega-development has not cornered the market on new construction on the Lower East Side. A few blocks northwest, residents are moving into 196 Orchard Street and, in a welcome bit of timing, construction is winding down on a 4,400-square-foot roof deck that will serve as a welcome outdoor oasis. The sky lawn, outdoor kitchens, chef’s tables, and cabana seating are beautifully enhanced with downtown skyline and Empire State Building views.
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196 Orchard Street seems determined to honor the Lower East Side’s past while trying to bring it into the future. The design by Ismael Leyva Architects pays homage to historic architecture, and it is right next to New York institution Katz’s Delicatessen. However, the 11-story building's retail space is home to a Marshalls outpost and an Equinox Fitness Center and Spa, where residents are eligible for a special discount.
All 94 apartments feature loft-like interiors, ceilings up to 12 feet high, incredible natural light through oversized casement windows, kitchens with Miele appliances and quartz counters, and luxurious marble master baths. In addition to the Equinox gym and roof deck, amenities at this doorman building include a bike room and private storage for purchase.
Sales got off to a robust start with closings at an average of $2,114 per square foot, which CityRealty data notes is well above the neighborhood average of $1,787 per square foot. Remaining availabilities start at $985K for studios, $1.25 million for one-bedrooms, $2.245 million for two-bedrooms, and $4.85 million for three-bedrooms. A four-bedroom penthouse with a private terrace is also available for $5.875 million.
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