Report: Essex Crossing Condo Prices Range From $1.3 Million to $7 Million

Essex Crossing site 1; view from Ludlow Street.
Essex Crossing site 1; view from Ludlow Street.
Essex Crossing site 1; view from Ludlow Street.

The developers of Essex Crossing are preparing for the September sales launch  of 55 condominium units in a building at 242 Broome St.  In the past several days, we’ve been hearing the first details regarding pricing for those units.

The building, located on site 1 of the former Seward Park urban renewal area, will include a bowling alley/entertainment complex and other commercial ventures.

City Realty reports that the market rate apartments are tentatively priced between $1.275 million-$7 million. There will be one, two and three-bedroom options. While SHoP Architects designed the 14-story building, DXA Studio is the interior designer.

Eleven of the 55 apartments will be classified as affordable. They’ll be available to families earning 110% of Area Median Income (AMI). Based on 2015 eligibility guidelines, a single person’s annual household income would be set at $66,550; household income for a family of four would be set at $94,930.

Most of the 1,000 apartments in Essex Crossing are rentals (half of all units in the project will be affordable). Next to 242 Broome St. will be a cultural institution yet to be named.

(h/t 6sqft)

Editor’s note: We’re told that the developers have not settled on final prices for the condominium apartments. While the numbers indicated above have been floated publicly, they could change by the time sales launch in the fall.