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


Related Articles

arrow_forward_ios
BFC Partners principal Joseph Ferrara and Empire Outlets in Staten Island (Images via Facebook; Getty)

Empire Outlets months behind on debt payments to city

Empire Outlets months behind on debt payments to city
Donald Capoccia (Photos by Axel Dupeux)

The Closing: Don Capoccia

The Closing: Don Capoccia
Jamaica resi project lands $67M in loans

Jamaica resi project lands $67M in loans

Jamaica resi project lands $67M in loans
Essex Crossing developer lands $161M to refi rental building

Essex Crossing developer lands $161M to refi rental building

Essex Crossing developer lands $161M to refi rental building
Levi’s inks lease to open retail store at BFC’s Empire Outlets in Staten Island

Levi’s inks lease to open retail store at BFC’s Empire Outlets in Staten Island

Levi’s inks lease to open retail store at BFC’s Empire Outlets in Staten Island
Developer behind Bedford Union Armory bringing 21-story rental tower to Jamaica

Developer behind Bedford Union Armory bringing 21-story rental tower to Jamaica

Developer behind Bedford Union Armory bringing 21-story rental tower to Jamaica
The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Here’s how long it will take to wrap up construction at the Essex Crossing megaproject

Here’s how long it will take to wrap up construction at the Essex Crossing megaproject

Here’s how long it will take to wrap up construction at the Essex Crossing megaproject
arrow_forward_ios

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

Loading...