Construction at Alphabet Plaza’s $30 million luxury rental not deterred by Sandy

New York /
Nov.November 05, 2012 12:30 PM

Construction crews braved the aftermath of Hurricane Sandy to start work at Alphabet Plaza, a vacant corner lot on the border of the East Village and the Lower East Side that is slated to become a 12-story, 135-unit luxury rental building, EV Grieve reported.

The owner is Kahen Properties, which purchased six lots on the corner of Avenue D and East 2nd Street for $21 million in December, as The Real Deal reported. Kahen is planning to spend another $30 million on the project, where apartments will rent in the $2,500 to $3,600 range. The building will also include some affordable units, along with a rooftop terrace, gym and doorman.

Queens-based Kahen Properties told TRD in January that it planned to break ground at the site within two months, with completion scheduled for 2014. The Department of Buildings in October approved plans to build the 108,953-square foot development, which includes 9,640 square feet of retail, EV Grieve said.

Kahen Properties, founded by Majid Kahen, bought the site from beer magnate Simon Bergson, president and CEO of Manhattan Beer Distributors, who had gradually acquired the collection of lots but never built on the site.

The architect is Avinash K. Malhotra Architects, which has worked on the W Downtown and 2 Gold Street. [EV Grieve]Leigh Kamping-Carder

 
 

Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
50 West 66th Street and the One57 building at 157 West 57th Street (Extell Development, One57)
Extell properties top Manhattan’s luxury contracts
Extell properties top Manhattan’s luxury contracts
Stuart Elliott
Editor’s note: Tales from the crypto meltdown
Editor’s note: Tales from the crypto meltdown
346 East 52nd Street (Google Maps, Yelp, Getty)
NYPD raids Koeppel’s Midtown building after brothel probe
NYPD raids Koeppel’s Midtown building after brothel probe
The Torkian Group's Hersel Torkian and 250 East 83rd Street (Getty, Google Maps, The Torkian Group)
Torkian nabs $145M loan for Upper East Side development
Torkian nabs $145M loan for Upper East Side development
TRD's Harrison Connery, Orion Jones and Hiten Samtani
Watch: Understanding Compass’ latest financials
Watch: Understanding Compass’ latest financials
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...