Latest Stories In: Real Estate
Samy Mahfar Purchases 177 Ludlow; EarthMatters Closing Thursday
The neon poster boards couldn’t be any clearer. EarthMatters, the eleven-year-old health shop at 177 Ludlow, will close its doors for the last time on Thursday. Additional signs in the windows promise deep discounts on remaining inventory and furniture inside the store. We’re keeping fingers crossed that the Gap or its kin decide against moving here like we’ve been hearing.
In the end, it’s not a total surprise, as the property had been on the open market for nearly a year. But everything happened so quickly; the building was only recently purchased last month for $5.9 million. According to the deed, the lucky winner is a notoriously familiar face on this block of late – Samy Mahfar. Dude is seriously on a Lower East Side spending spree after snapping up parcels on East Houston (near Attorney) and the drama-filled 143 Ludlow, where holdout tenants are battling dangerous conditions during building renovations. So if past is any indication, residents of 177 will be in for a shock if and when the Death Star actually fires, as it were.
With this proverbial domino falling at the head of Ludlow, the fate of other old-timers like Max Fish and Pink Pony is further put into question.