Essex Crossing Site 4, 180 Broome St. Rendering by Handel Architects.
The developers of the Essex Crossing mega project have locked in a $200 million loan from Wells Fargo and M&T Bank for their 26-story building at 180 Broome St.
Delancey Street Associates, the group building the 1.9 million square foot project, announced this afternoon that it had closed on a construction loan for the residential, office and retail tower. 180 Broome St. (at Clinton Street) is located on site 4 of the former Seward Park Urban Renewal Area (SPURA).
Construction will begin on the tower later this month. The Lower East Side Partnership just cleared commercial vehicles from a parking lot it managed on site 4 for many years. Construction fencing will start to go up this week. [Traffic will be re-organized around the site to accommodate the new fencing.]