235 Cherry Street

Chinatown, Lower East Side, New Developments, Policy

two bridges

A recent ruling by a panel of state appellate judges may add more delays–at the very least–to the rise of JDS Development Group’s proposed addition to the multi-tower Two Bridges development on the Lower East Side/Chinatown waterfront, The City reports. The ruling states that the property’s long-term leaseholder, Little Cherry LLC, which has 25 years left on their lease at the currently-vacant 235 Cherry Street, must have a say in how the property’s development rights are used. The developer plans to stack a 1,000-foot, 100-story waterfront apartment tower on top of and cantilevered over the Two Bridges Senior Apartments and one-story retail space–and they need the Cherry Street property’s development rights to move forward.

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