You’ve probably seen it from the Manhattan Bridge. That massive, glass-clad monolith towering over the East River, looking like it belongs in a futuristic sci-fi flick rather than the gritty edge of the Lower East Side. That’s 299 South Street New York City, better known to the real estate world as One Manhattan Square.
It’s a polarizing building.
Some people love the sheer audacity of it. Others think it’s a glass thumb sticking out in a neighborhood defined by brick tenements and public housing. But regardless of where you land on the aesthetics, you can't ignore the impact this development has had on the Manhattan skyline. It basically redefined what "luxury" means in a neighborhood that, for decades, was the last holdout against hyper-gentrification.
Why 299 South Street New York City Changed Everything
Before Extell Development Company showed up with their blueprints, this stretch of the waterfront was... well, quiet. Mostly industrial or residential in a very old-school way. Then came this 847-foot skyscraper. It didn’t just add apartments; it added an entire lifestyle ecosystem.
The scale is honestly hard to wrap your head around. We’re talking over 800 luxury condos. In a city where "luxury" often means a doorman and a gym the size of a walk-in closet, 299 South Street New York City went completely overboard. They built 100,000 square feet of amenities. To put that in perspective, that’s about two football fields of stuff to do without ever leaving your front door.
The Amenities War
It’s kinda ridiculous when you list it out. There’s a multi-court basketball gym. A bowling alley. A squash court. A golf simulator. And because New York winters are brutal, they put in a 75-foot indoor swimming pool and a "hammam" with a cold plunge pool.
But the real kicker? The private park.
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Usually, if you want green space in NYC, you go to Central Park or wait for a bench at a pocket park. At 299 South Street, there’s an acre of private gardens designed by West 8—the same firm that did Governors Island. It has fire pits and tea pavilions. It’s the kind of thing you’d expect at a resort in the Catskills, not at the foot of the Manhattan Bridge.
The Lower East Side Tug-of-War
Living at 299 South Street New York City means living in a bit of a contradiction. You step out of a lobby that smells like expensive candles and immediately hit the raw, vibrant energy of the Two Bridges neighborhood.
There's a lot of history here.
Local activists fought the development for years. They were worried about shadows, rising rents, and the loss of the neighborhood’s soul. You’ve got the historic Essex Market nearby, some of the best dumplings in the world in Chinatown, and dive bars that have been there since your parents were in diapers. Then you have this vertical village of glass.
It creates a weird vibe.
You’ll see residents walking their French Bulldogs past old-school fish markets where people have been working for 40 years. It’s a microcosm of New York’s ongoing identity crisis. Does the new luxury keep the city viable, or does it drown out the culture that made people want to live here in the first place? Honestly, it’s probably a bit of both.
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What the Units are Actually Like
If you’re looking at floor plans, the first thing you’ll notice is the light. Because the building stands so much taller than everything immediately around it, the views are genuinely stupid. Not "nice," but "I’m going to stare at the Brooklyn Bridge for three hours" levels of good.
The finishes are what you'd expect:
- Miele appliances that probably cost more than my first car.
- Custom cabinetry that feels solid, not like that IKEA-style stuff in "luxury" rentals.
- Marble everywhere.
- Floor-to-ceiling glass that makes you feel like you’re floating over the river.
But it’s not all sunshine. Some residents have complained about the wait times for elevators during peak hours—a common headache in mega-towers. And while the soundproofing is decent, you are right next to the FDR Drive and the bridge. You’re going to hear the city. New York is never truly silent, even when you're 60 stories up.
The Financial Reality of One Manhattan Square
Buying into 299 South Street New York City isn't just about the view; it’s a specific financial play. For a long time, the building offered a 20-year tax abatement. In NYC, that is the "Golden Fleece" of real estate. It keeps your monthly carrying costs low while the rest of the city pays through the nose in property taxes.
However, the market has been a rollercoaster. Extell had to get creative to fill all those units. At one point, they were offering "rent-to-own" programs, which is almost unheard of for a building of this pedigree. They even offered to waive common charges for years just to get people in the door.
It shows that even a billionaire developer can get humbled by the sheer volume of 800+ units hitting the market at once.
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Navigating the Neighborhood Like a Pro
If you end up living here or even just visiting, don't just stay in the "amenity bubble." The area around 299 South Street New York City is one of the last places in Manhattan where you can find authentic experiences.
- The Food Scene: Skip the fancy hotel restaurants. Walk five minutes into Chinatown. Hit up Sheng Wang on Eldridge Street for hand-pulled noodles. It’s cheap, loud, and incredible.
- The Waterfront: The East River Esplanade has been getting a lot of love lately. It’s great for a run, but watch out for the e-bikes—they fly.
- Transportation: This is the "kinda" annoying part. You’re a bit of a hike from the F train at East Broadway. It’s not a dealbreaker, but you’ll definitely find yourself calling an Uber more often than if you lived in Union Square.
Is It Worth It?
The "worth it" factor depends on what you value. If you want a quiet, brownstone-lined street with a local butcher who knows your name, 299 South Street New York City will feel like a soulless glass box. It’s massive. It’s flashy. It’s unapologetic.
But if you want to finish your workday and go down to a private sauna, then hit a bucket at a private basketball court before watching the sunset over the Statue of Liberty from your living room, it’s hard to beat.
There's also the "investment" side. The Two Bridges area is seeing more development. More towers are planned. While some neighbors hate it, from a property value standpoint, the neighborhood is being pulled upward.
Actionable Steps for Potential Residents or Investors
If you're seriously eyeing a spot at 299 South Street New York City, don't just look at the shiny brochure.
- Visit at Night: The noise from the Manhattan Bridge is different at 11:00 PM than it is at 2:00 PM. Make sure you can handle the hum of the city.
- Check the Abatement Status: Not all units are created equal. Confirm exactly how many years are left on the tax abatement for the specific unit you're eyeing.
- Audit the Common Charges: Amenities aren't free. Even if there's a promotion now, look at what those monthly fees will be in five years. Maintaining a private bowling alley and an acre of gardens is expensive.
- Walk the "Commute": Walk from the front door to the East Broadway subway station. Do it in the rain. Decide if that 10-minute trek is something you're okay with doing daily.
- Negotiate Hard: Because of the high inventory in the building, buyers often have more leverage than they realize. Don't take the "asking price" as gospel. Look at recent closing data on StreetEasy to see what people are actually paying.
Living at 299 South Street is a statement. It says you want the new New York—the one that’s high-tech, high-service, and high-altitude. It’s not for everyone, but for the people who live there, it’s a literal playground in the sky. Overlooking a neighborhood that’s still trying to figure out where it fits in the shadow of the glass.