Assessing the Over-Gentrified Bowery 2.0

Posted on: April 12th, 2012 at 6:18 am by

The marauding forces of gentrification are advancing the troops down the Bowery with heavy force, leaving a path of destruction known as Bowery 2.0.  Galleries, hotels, glass boxes, and unaffordable boutiques have already paraded south of East Houston. And the real estate industry is eating it up. The New York Post has a sprawling trends piece in today’s paper which covers the issue, employing broad-strokes to address the controversial upscaling we’ve discussed on Bowery Boogie these last three-plus years.  The explosion in change is maddening.

Chair Up on the Bowery

There are some updates on the following developments:

  • The second (Hot) Karl Fischer building at 255 Bowery won’t see daylight until the second half of 2013.
  • The in-progress 250 Bowery won’t top off for another month or so. Condo units here will be between $700,000 and $2.7 million.
  • EMM Group did sign the lease for 199 Bowery after all, and will bring more annoying trendy nightlife to the neighborhood.

If your blood isn’t boiling enough at this point, feast on these select bytes:

The appeal is not necessarily the Bowery itself, but “it’s more about the popularity of the bordering neighborhoods — Nolita, the East Village, the Lower East Side and Chinatown.”

“I ended up [on the Bowery] one summer in an NYU dorm,” says Jay Solomon, who also lives at Avalon Bowery. “I asked to live in a different dorm. I didn’t want to live around there.”

But just since 2007, “the area really changed,” he says. “There were younger people, more artists, more models, more fashion, more design people.”

“You see those buildings all down there?” asks Azoulay, pointing to the row of kitchen-supply stores. “All these places are moving to Brooklyn or Queens.”

Don’t fuck with Globe Slicers

Recent Stories

chinatown-protest-chin-cwg
Local Groups Protest Margaret Chin’s Alleged Refusal to Protect the LES Waterfront

The Coaltion to Protect Chinatown and the Lower East Side is turning up the heat against Councilwoman Margaret Chin, who, the group alleges, is refusing to back the full Chinatown Working Group (CWG) Rezoning Plan. The herculean undertaking was planned in response to the 2008 rezoning which left out large portions of downtown. (The argument […]

odd-closing-1
ODD. Boutique is Moving from Ludlow Street After 4 Years

This is ODD. This is tombstone signage. This is Misrahi Realty letting you know that 164 Ludlow Street is leasing again. This is fashion flight. The ODD. New York boutique (stylized with the period) is on its way out after spending more than four years in Hell Square. The store modified the “for rent” sign […]

Photo: Manny Hernandez
Shepard Fairey is Painting a New Mural on 1st Avenue

For the second time in as many years, the Little Italy Street Art Project collective has convinced Shepard Fairey to add color to the Lower East Side. This time, it’s not on the Bowery, but further north. The legendary street artist chose an exposed tenement wall at 1st Avenue and East 11th Street to impart a […]

falafel-shop-closed
The Falafel Shop on Rivington Street Probably Won’t Reopen

You’ll have to get your balls elsewhere. Falafel, that is. Indeed, it appears that the four-year-old Falafel Shop on Rivington Street is out of business. The snack shop hasn’t been open since mid-August, when ownership took a sudden “maintenance” break. At the time, proprietor Eyal Tov told us that the Falafel Shop would reopen after a […]

84bowery-sale
This Bowery Building with Invader Mosaic Traded for $9.8M

The six-story building at 84 Bowery in the Chinatown diamond district just traded hands for $9.8 million. A “private investor” purchased the property from Richard Shongut Realty Corp; the paper trail is not public. The transaction comes with the admission that the investment opportunity won’t yield suitcases full of cash in the immediate future. Indeed, it’s […]

  • ————m

    time for the new-comers with their burb-brains and gated mentality to move on to brooklyn and queens!  this is where they will ultimately end up after all!

  • WoodsideAl

    No, no… please don’t send them here!  I left the East Village, I left Park Slope, I left Williamsburg…   Queens is my last refuge from those people.