The Real Deal New York

Extell’s Lower East Side project to hit 70 stories?

December 20, 2013 03:19PM

Extell Development’s forthcoming development on the Lower East Side site of the former Pathmark grocery store will involve a massive tower, according to a neighborhood official.

Gary Barnett’s Extell, which filed paperwork with the city to demolish the one-story grocery store, is planning to build a luxury development as-of-Right On The 227 Cherry Street site, which is zoned to allow nearly 1 million square feet. The site could include a tower that rises more than 70 stories, said Vincent Papa, president of the Two Bridges Neighborhood Council, a local community group, according to the Lo Down blog. The site will also include a market, which will likely be upscale, Papa said.

Representatives of the Two Bridges Urban Renewal Area are attempting to work with Extell to negotiate the inclusion of an affordable supermarket, which they told the Lo Down is needed in the low-income community along the East River. Two Bridges is also working with the Settlement Housing Fund on efforts to construct an affordable housing project next to Extell’s tower.

Barnett, who grew up on the Lower East Side, purchased the site for about $175 million earlier this year. [Lo Down]Julie Strickland