The developer of the former Moscot Eyewear site on the northeast corner of Delancey and Orchard streets has now filed initial plans with the city for a 12-story mixed-use building.
New York Yimby first noticed the filings with the Department of Buildings yesterday afternoon. As you may recall, Moscot announced in December of 2012 that it was making the move to the south side of Delancey due to the uncertainty around the pending construction project.
According to the filing, the 12 story building will include retail on the first two floors and apartments above. There will be nearly 5800 square feet of commercial space and around 30,000 square feet for apartments. The filing also indicates the owner will participate in the city’s inclusionary housing program, which allows developers to increase the size of their residential buildings beyond what zoning would ordinarily allow if they set aside 20% of the apartments for affordable housing.
Helm Equities bought 118 Orchard St. (also known as 86 Delancey St.) in 2012 for $4.8 million and also purchased air rights. The company’s owner, David Escava told the Wall Street Journal a “new national retailer” would probably pay $300 per square foot for space in the building, triple what Moscot was being charged. Moscot was located at 118 Orchard St. for more than 80 years. An events space called Wallplay currently occupies the building.
