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Lower East Side Links

Must Read

–The city is tracking Tropical Storm Hermine. You can keep up to date on storm preps in New York here.

–Extell development has finally closed a $500 million construction loan for One Manhattan Square, its 80-story luxury tower in the Two Bridges area. There have been concerns from investors about the viability of the audacious project as the luxury market has slowed in New York City. [The Real Deal]

–More on the “luxury glut” and how it’s impacting Extell’s Lower East Side project. CEO Gary Barnett is “making (a 5%) discount available to buyers at One Manhattan Square, an 815-unit downtown project where the asking prices on most condos had already been reduced this year. A one-bedroom apartment with outdoor space on the lowest available floor is listed for $1.65 million, down from an initial $2.05 million, filings show.” [Bloomberg]

–The city’s Department of Design & Construction says the long-delayed East Houston Street reconstruction project will wrap up at the end of this month. [DNA Info]

–“The Teddy Bear Project” comes to the New Museum’s First Saturday for Families tomorrow. [New York Times]

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