It is evident that the residential and commercial landscape is rapidly changing here in the LES (Lower East Side, NYC). It is my second day dining at Taco Mix – and I am delighted to report that the food is delicious. I foresee that in the next 10 years, this small strip, which appears currently under contract, will build its air rights and develop into a mini mall; mixed use condominium, or both? The puzzle could align given the recent burst in tech start-ups in New York. The “opportunity zone” on South Delancey Street and Broome Street, featuring brand new offices, and a collection of brand new residential sales and rentals will be able to host the continuation of this burgeoning cultural shift. Perhaps Andreessen Horowitz, a private American venture capital firm, or Fifth Wall, will open offices here in the LES? Only time will tell who the prospective tenants will be, but they can always e-mail me for feedback ha ha email@example.com
As a Lower East Side Resident, and real estate broker, I have observed the shift in the architectural landscape. What once used to be the Matzo Factory, is now a new condominium development. Adorning the corners of the high foot traffic Clinton Street – an array of new boutique shops selling art, good food, and love in a cup of gourmet hot chocolate. It makes sense that developers hedged on the steady growth of the LES. A romantic landscape , with vibrant flavor and history, where a developer could build and make a profit, while not surpassing the average 2k a foot psqf, in surrounding neighborhoods. As a resident, and broker, I do feel that it is positive that our community continues to dynamically move forward, while still keeping aspects of the history that has made the LES what it is. Among the fancy new boutique shops, one can still find the little mom and pop spaces, art, music, galleries, Orchard Street. The architectural design does not take away from the skyline; featuring small walk-ups, and charming buildings. From a buyer’s standpoint, this would be the place to invest at the moment, while prices are relatively low, and the product new, in a wonderful location. GO LES!!!!