According to Crain's last week, Edward J. Minskoff Equities and Edison Properties are planning a "luxury rental project " that would span between roughly 260,000 and 300,000 square feet with 238 residential units and 10,000 square feet of retail space."
Minskoff, the developer behind 51 Astor Place/Death Star, closed on a 99-year ground lease for the property in June, per Crain's.
To date, no work permits have been filed for the address, aka 20 Great Jones St. Crain's noted that the developers hope to break ground in 2027.
CityRealty reported that SHoP Architects previously created a schematic design for developer MAG Partners that showed a residential building, which would have included 199 units (about 50 affordable). However, that project never moved forward.
Here's a vision for the space.. via ShOP...
Whatever comes next will likely be just as luxurious.
Crain's also pointed out that this project is "an example of both the promise and pitfalls of New York's contentious affordable housing tax break 485-x."
The developers had once considered putting an office building on the site, but the 2021 SoHo/NoHo rezoning — which opened the door to more residential projects — along with the 2024 485-x affordable-housing tax break reportedly made an apartment development far more appealing.
This will be the second significant development on Great Jones in the coming years.
As we previously posted, Lonicera Partners is assembling a potential development site on the NW corner of the Bowery and Great Jones. Lonicera reportedly signed a contract to purchase 348 Bowery, the former Bowery Market, and took a minority stake in 350 and 352 Bowery, the adjacent properties to the north.
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