The Real Deal New York

Trader Joe’s signs lease at Essex Crossing

Store confirmed it will open at 145 Clinton Street on LES

October 04, 2016 11:20AM

Rendering of Essex Crossing (credit: Handel Architects) and the facade of Trader Joe’s at 2073 Broadway (credit: Bisnow)

Rendering of Essex Crossing (credit: Handel Architects) and the facade of Trader Joe’s at 2073 Broadway (credit: Bisnow)

UPDATED, Oct. 4, 11:43 a.m.:  Trader Joe’s signed a lease at the Essex Crossing megadevelopment on the Lower East Side.

The grocery chain announced Tuesday the deal had been finalized for the 15-story building at 145 Clinton Street. It had been in talks for the 30,000-square-foot basement space last year. The store is expected to open in 2018.

That building, known as site 5, will have 211 apartments — half of which will be affordable — and about 70,000 square feet of commercial space. Trader Joe’s will join a 22,000-square-foot Planet Fitness outpost, and there is also 15,000 square feet of available space planned for the building, according to Curbed.

Essex Crossing is a mixed-used project that will bring more than 1,000 housing units and 850,000 square feet of commercial space to the neighborhood. It is being developed by Delancey Street Associates, which is a partnership between BFC Partners, L+M Development Partners and Taconic Investment Partners. Goldman Sachs’ Urban Investment Group plans to invest around $500 million in the project.

Earlier this year, Trader Joe’s signed a lease for its second store on the Upper West Side[Curbed]Miriam Hall

Correction: An earlier version of this post included an incorrect address and number of units for the building.

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