The Essex Crossing complex just achieved a financial milestone and looks forward to a food frenzy in the next few weeks as well.
Developer Delancey Street Associates has nailed down $215 million in permanent financing for The Essex, the 26-story mixed-use building at 125 Delancey St. The loan is via JPMorgan Chase, with participation by Goldman Sachs’ commercial mortgage-backed securities group.
The developers — tapped by City Hall in 2013 to develop the complex — will open the first phase of the Market Line, a 150,000-square-foot underground marketplace spanning three Essex Crossing buildings, in November. The first leg runs directly beneath The Essex. Merchants include Ample Hills Ice Cream, Nom Wah Tea Parlor and Grand Delancey Beer Hall.
The Essex also has 195 rental apartments, half of them affordable; the relocated and enlarged Essex Street food market on the ground floor and mezzanine; and a 14-screen Regal cinema.
Essex Crossing will consist of nine buildings on six acres mostly south of Delancey Street near the Williamsburg Bridge. Seven have opened or are under construction. The complex looked unfinished until 202 Broome St. — which was a missing tooth in the line of buildings along Delancey Street — topped out last week.
The deal was arranged by AKS Capital Partners’ Jonathan Schwartz, Aaron Appel, Keith Kurland and Adam Schwartz.
DSA is a joint venture of Taconic Investment Partners, BFC Partners, L+M Development Partners, Prusik Group and Goldman Sachs Urban Investment Group.