Tuesday, January 20, 2015

Permit pre-filed for new 12-floor building at 79-89 Avenue D

[Google Street View]

Reps for L&M Development Partners pre-filed plans on Friday for a 12-story, mixed-use building here on the west side of Avenue D between East Seventh Street and East Sixth Street. The space is currently home to Rite Aid and two long-empty storefronts.

The plans show a building with a total of 96,038 square feet (7,868 of them for the retail component). In total, the plans show 108 dwelling units.

The Real Deal reported last May that the developers could build to 96,400 square feet with an inclusionary housing bonus. So given the dimensions, we're assuming that some of the units will be set aside for that.

In a previous post about 79-89 Avenue D, a commenter said that the Rite-Aid would temporarily move to the still-empty retail space the next block up at Arabella 101 … then return once the new building is complete. (We haven't heard anything official about this.)

L&M Development Partners, one of the groups involved in the Essex Crossing development at the former Seward Park urban renewal site, previously acquired 79-89 Avenue D for $12.5 million.

Previously on EV Grieve:
Report: Space that houses Rite Aid on Avenue D hits market for $22.5 million

Report: New 12-story, mixed-use building in the works for Avenue D

13 comments:

Anonymous said...

An idiot friend of mine was looking to buy a studio or 1 bedroom apartment near AVE D a couple of years ago. We looked at apartments which in the $300,000 price range but he said "ugh Ave D". Did I mention he was an idiot.

Anonymous said...

Who in the fuck wants to live across from the projects?

Anonymous said...

Ave D isn't covered by the rezoning a few years back ?

Anonymous said...

Who in the fuck wants to live across from you?

Henri Cervantes said...

gosh, we're losing a Rite-Aid? what shall we do?

Anonymous said...

How many feet of water was this under during Sandy?

Anonymous said...

The affordable units generated by the inclusionary zoning bonus do not have to be on site. This is a problem with the zoning. In fact, the units can even be rehabbed. If they are on site look for the "poor door".

Anonymous said...

$12.5mil
these guys are making a KILLING
probably will sell a penthouse alone for that, plus 2-3 more units pays for the building and construction
this city is going to thieves
rich just getting richer and richer
so sad

Anonymous said...

The public housing on the East side of Ave D will not be there much longer, that shit is a goldmine for developers and some backroom deal will be made to move all these folks to Mineola or as far from Manhattan as possible. Time to start thinking of the Hudson and East rivers as moats that fortify the castle.

NOTORIOUS said...

Row row row your boat
Gently down Ave D
Merrily merrily merrily merrily
Flood zones are a dream

Gojira said...

Yeah cos who needs little things like light, sun, sky and air when there's profit to be had?

Anonymous said...

I agree with one of the last commenters. It is only a matter of time before the projects are obliterated. Once they are removed, prices will only rise. Manhattan is truly the land of the filthy rich. You need at least 250k to live comfortably here, and that is in a modest way. I don't see how someone would spend over 500k to live across from the projects. You might as well carry a gun with you.

Makeout said...

Hehehe.. Good one NOTORIOUS!