Essex Crossing Is Getting a Bike Shop by the Williamsburg Bridge
By Rebecca Baird-Remba July 11, 2019 9:00 am
reprints
A bike shop is coming to Essex Crossing, the nine-building, 1.9-million-square-foot mega-project on the Lower East Side, Commercial Observer can first report.
New Jersey bike shop Hilltop Bicycles will open a 2,000-square-foot shop on the ground floor of 175 Delancey Street in August, according to a spokesman for the developers of Essex Crossing. The 99-unit, affordable senior building sits right by the base of the Williamsburg Bridge, which thousands of bicyclists use to commute between Manhattan and Brooklyn each day.
Asking rent in the shop’s 10-year deal wasn’t disclosed, and no brokers were involved in the transaction.
Hilltop is based in Summit, N.J., and already has four locations in the Garden State, with stores near train stations in Cranford, Summit, Madison and Livingston. The company plans to partner with California-based cycling manufacturer Specialized Bicycle Components for the Essex Crossing location, where it will sell Specialized’s line of e-bikes (bikes that have an electric motor).
“When the opportunity to open a store in the Lower East Side just steps from the Williamsburg Bridge and its bike traffic was presented to us, we felt this was an obvious step in our growth plans,” said Thomas Dunn, the co-founder of Hilltop, in prepared remarks.
Other retail tenants at 175 Delancey include an outpatient care center run by NYU Langone, Grand Street Settlement, Henry Street Settlement, the Lower East Side BID and GrandLo Café, a job-training coffee shop run by Grand Street Settlement.
The developers of Essex Crossing are Delancey Street Associates, a joint venture between Prusik Group, L+M Development Partners, BFC Partners, Taconic Investment Partners and the Goldman Sachs (GS) Urban Investment Group.
Elsewhere in the sprawling development, construction is chugging along at 180 Broome Street, a 26-story building with 263 rental apartments, 175,000 square feet of office space, and a 9,000-square-foot indoor public park. The 26-story rental building at 125 Delancey Street is already 90 percent leased and hosts the newly opened 14-screen Regal Essex Crossing and the new home of the relocated Essex Street Market. The complex also has the largest Trader Joe’s on the East Coast and a small-format Target store, both situated at the base of the 15-story, 211-unit rental building at 145 Clinton Street.
