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Multifamily Thriving in Manhattan, Up and Down

NEW YORK CITY-A three-building restoration project on the Lower East Side will yield 22 market-priced residential units. On the Upper West Side, new luxury condos are provoking an "incredible" response.

By Betsy Kraat | Updated on May 21, 2001

NEW YORK CITY-The market for multifamily housing is hot, and local developers are meeting the need. 149-151 Essex Street Associates are the developers of two attached buildings on Essex Street and one building on Ludlow Street. Principals of the group include Barbara Rohregger and Harris Barer. Property Markets Group developed the Hermitage at 41 West 72nd St.

The Essex St. development “will involve further combining the two Essex St. properties into one, adding additional floors to each of these buildings and demolishing the Ludlow St. property” says Matthew Barnett of Levien & Co., owner’s representative for the restoration. The project’s architect is Meltzer/Mandl. Abraham Joselow Associates, Pillori Associates and the Office of James Ruderman will serve as the project’s engineers.

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