Latest Stories In: Real Estate
Extell Involved in Future Pathmark Development Project?
Wednesday morning, local politicians and activists gathered at the Lower East Side Pathmark to talk about the future of 227 Cherry Street. Speaker Sheldon Silver boldly asserted that “We’ve fought this battle before, and we’ll fight it again,” referring to his victory in a similar situation back in 2007.
Residents in the immediate vicinity fear the loss of a budget supermarket that has catered to the needs of the community for three decades. Upon closure at the end of December, that of the unknown will take effect. Will there be an affordable replacement option? Or will it become a Whole Foods as some speculate? Will ginormous residential towers rise onsite? Too many questions to answer.
However, Victor Papa, president of the Two Bridges Neighborhood Council, tells The Villager this week that Extell Development Company is the likely candidate behind the mystery development here. Yes, Extell, which boasts a stable of city skyscrapers including the massive 90-story One57 and the 53-story Times Square Hyatt.
Founder Gary Barnett, head of the behemoth real estate organization, declined to comment on the matter. Stay tuned.