Last week, Nelson Management Group and L+M Development Partners revealed renderings of a 19-story modernized rental project at 275 South Street. Half of the 256 renovated apartments in the Two Bridges neighborhood will be geared toward middle-income households.
“The property’s proximity to a growing and diverse roster of restaurants, galleries, and nightlife adds to the luxurious yet affordable New York City living experience that both our established and new residents are looking for,” Robert S. Nelson, president of Nelson Management Group, said.
The developers called upon ORE Design + Technology for the exterior and common area revamp. The firm is known for previously working on Dekalb Market and Riverpark Farm, a 2015 Architizer A+ Popular Choice winner.
ORE Design opted for an impressive rooftop deck with foliage, planking and balcony lights, as well as a new community lounge with chef’s kitchen and an enlarged fitness center.
275 South rendering/ORE Design + Technology
For the apartments, ASH NYC, a Brooklyn-based design firm, chose natural white oak floors, Ceasarstone countertops, herringbone ceramic floor tiles in kitchens and baths, Waterworks fixtures and custom cabinetry for an upscale look.
All tenants will be provided access to 275 South’s amenities, no matter their household income.
The property is less than six blocks from the East Broadway F train stop. The lively Lower East Side neighborhood is home to many notable eateries and nightlife spots, including the Metrograph theater, 169 Bar and Mission Chinese.
“Our investment in 275 South builds on L+M’s commitment to vibrant and diverse communities in the Two Bridges neighborhood and Lower East Side, including the development of 1,000 mixed-income apartments at Essex Crossing and the preservation of nearly 500 units of affordable housing at 265-275 Cherry Street,” said Director of Acquisitions at L+M Development Partners, Eben Ellertson.
Nelson Management and L+M acquired 275 South in February 2015. The 260,000 square foot building, previously known as Lands End I, was purchased for an undisclosed amount, according to the Lo-Down.
In 2013, L+M (as part of an ownership group) purchased Lands End II, located at 265-275 Cherry Street, for $279 million. Lands End II has a total of 490 units.
Studios and one-bedrooms in 275 South are currently filled. Two-bedrooms start at $4,295 and three-bedrooms start at $5,300 per month. As of May 9, there are two two-bedrooms, three three-bedrooms and three four-bedrooms available to rent.
