East Village mixed-use development on Mars Bar site tops off

TRD New York /
Nov.November 14, 2012 11:30 AM

Jupiter 21, the 12-story, 65-unit residential development atop the lot once occupied by dive bar Mars Bar, has topped off, according to project developer BFC Partners. Construction is slated to be finish in the spring of 2013, with occupancy to follow.

The building, which includes a mix of rentals, condominiums and ground-level commercial space, is located at 21 East 1st Street at Second Avenue in the East Village.

“In a prime East Village location with very high demand and little inventory, we anticipate a quick completion of sales and leasing next year,” said Donald Capoccia, BFC principal and founder, in a statement.

Broken down, the building will have 13 affordable condos, 52 market-rate rentals and two commercial condos. As previously reported, nine tenants of the original buildings, who were displaced by construction, will be able to purchase apartments in the new structure for $10 tax-free.

The other four units will be sold through a lottery. The Corcoran Group will market the rentals.

As previously reported, Capoccia’s commitment to affordable housing has brought him full circle in the neighborhood, where in 1999 he bulldozed an Avenue C community garden space for his Eastville Gardens project.

Unit types will span from studios to two-bedrooms and will have hardwood floors and walnut kitchen appliances, to name some amenities. Some units will have balconies. — Zachary Kussin


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