Former Ratner’s Building at 100 Norfolk Sold for $8.8 Million

Posted on: May 1st, 2012 at 6:09 am by

100 Norfolk Street has been on the block for over two years already, and recently sold for an all-cash sum of $8.8 million (6% above ask). The unconfirmed buyer, believed to be Brooklyn-based Urban-Scape, negotiated air rights from adjoining buildings and will be constructing a 44,000 square-foot condo monstrosity (12 stories). All the while, skyline of the Lower East Side keeps on its upward trend.

The previous owner of 100 Norfolk was Ratner’s, the iconic Kosher dairy joint which ultimately shuttered a decade ago. This particular corner property housed the refrigeration units as well as the offices, so when the business shuttered, the building became “obsolete.” It was a tough sell after the 2008 rezoning, though:

One reason why it took so long to sell 100 Norfolk St. is because it was located in a part of the Lower East Side that was rezoned in 2008 to limit building heights to 120 feet. The restriction made the property a tougher sell. The new owner “did a lot of leg work,” according to Mr. DeCheser, and because it owns adjoining parcels, was able to work out a way to transfer air rights to the new development, he added.

It’s also worth noting that another of the Ratner’s holdings, the parking lot for the restaurant, eventually became the sixteen-story Blue eyesore many in the neighborhood still resent.

Photo Credit: On the Set of New York

Of course, this news doesn’t bode well for the not-so-secret Back Room lounge.

[via Crain's; Ratner's photo credit]

Recent Stories

girls-bowery
HBO’s ‘Girls’ is Filming on the Bowery Today

Lena Dunham and the Girls crew will be filming scenes in and around the Bowery today. The shoot is to capture scenes for the upcoming fourth season of the hit HBO series. Laminated signs mark the territory, lining the west side of the Bowery and bending around to Kenmare Street into Little Italy. Season 4 […]

trainwreck-judd-apatow
Filming ‘Trainwreck’ with Judd Apatow & Amy Schumer on Orchard Street [PHOTOS]

Director Judd Apatow and the Trainwreck team pitched camp at the northeast corner of Orchard and Grand Streets yesterday afternoon. Right outside Sheila’s Decorating. The scene in question was an exterior “intersection” sequence shot near the entrance to Jodamo (of Pink Building fame). This was the second time in a week that production transpired on […]

volang-orchard-closed
Volang Boutique Shutters After 4-Year Tenure on Orchard Street

A few weeks shy of its fourth anniversary on the Lower East Side, women’s boutique, Volang, packed up and left. We passed 147 Orchard Street yesterday afternoon to find the store a ghost town. There are no updates via social media or website announcement, and the phone line is “not accepting calls at this time.” […]

melani-pizza-1
Hakki’s Rivington Pizza Parlor Renamed ‘Melani Pizza’; Full Liquor License Sought

Hakki’s “famous” World Champion Pizza at 170 Rivington Street is no longer in the Lower East Side game. Within the last few weeks, the store seemingly changed hands, and currently carries a new identity. The parlor is now called Melani Pizzeria. The store itself underwent some change as well, including a major cleanup and better dining […]

black-scale-prince
Black Scale is Moving Its Flagship to 4 Prince Street

The Black Scale flagship boutique at 296 Elizabeth Street is reportedly moving to the Bowery. More precisely, to the embattled eastern fringe of Prince Street, which has seen its fair share of retail turnover the last couple years. We are told the Black Scale streetwear brand will soon re-launch inside the old Seasonal Whispers store […]