Delancey rising

New tower 38 Delancey is marketing its unsold units as luxe rentals


38 Delancey

From the September issue: A huge condo touting its cool credentials and top-of-the-line finishes (recessed ceiling lights!) may seem about as au courant as having a Friendster account.

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But that’s exactly what’s happening on the Lower East Side, where 38 Delancey, a 17-story, gunmetal-gray high-rise developed by the Yang Tze River Realty Corporation at Forsyth Street, is opening.

In true mid-2000s fashion, the building, which is poised to start closing its 56 apartments this month, touts a downtown address “where history meets hip,” according to its website.

Yet with new worries of a double dip in housing, a cold dose of 21st-century reality may be intruding at the building, which has 42 units in contract. [more]