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

Under New Ownership, Moemen Becomes ‘NYC Falafel Co.’ on Allen Street

There’s been a change of the guard at Moemen, the Mediterranean snack shop at 201 Allen Street. Almost overnight, the signage was swapped and interior remodeled. In comes the blandly named NYC Falafel Co., offering up exactly what you’d imagine. Cheap eats geared toward the Hell Square hordes. They’re open past midnight every day except […]

Spanish Kicks Company Camper Christens New ‘Lab’ on the Bowery

It’s settled. You can finally purchase $285 sneakers on the Bowery. And right beside the Bowery Mission, no less. The Spanish footwear company, Camper, has you covered. The brand finally deposed the “coming soon” window skin from the facade of 221 Bowery last week to reveal its trendy CamperLab concept, a store we first told you […]

‘Parantha Alley’ Debuts at the Bowery Market on Monday

Parantha Alley, the four-year-old veteran of the Brooklyn food fair scene, is headed for the Bowery. Its new stall inside the open-air Bowery Market debuts on Monday. For the last week or so, artist Colleen Kong-Savage has been painting an Indian-themed mural on the corrugated siding of the structure. Parantha Alley joins a fledgeling Bowery […]

Watch this Guy Knock Over a Motorcycle on Pike Street for No Apparent Reason [VIDEO]

Here’s an interesting one… So, this guy was walking down Pike Street, between East Broadway and Henry Street, on Monday at 10:38pm and decided to upend a parked motorcycle. It’s clear that he was pissed off about something; he commits to pushing the vehicle onto the sidewalk when it refuses to budge after the first […]

It’s Time to End the ‘Cauldron of Honking Horns’ at Clinton and Grand Streets [Guest Post]

The following guest post was written by Matt Marello, a resident of the Seward Park Co-op, who is fed up with the ongoing traffic bottleneck at Grand and Clinton Streets. There once was a quiet, peaceful neighborhood on the Lower East Side, where birds sang, children played, and the elderly could cross the street without being […]