Latest Stories In: Real Estate
Former Roumanian Synagogue Building at 70 Hester Street Sold
Is it just us or is Lower East Side change occurring at a most freakish pace these days? The old is being razed while the new raises property values and costs of living. Seriously. Take the last week, for example. In this tiny time period alone, we learned that the Living Room is moving at the end of January, Beth Hamedrash Hagadol wants to overturn landmark status in order to “save” the congregation, and that the Lowline will likely boost real land values by between $10 and $20 million. And how was your holiday?
Today the New York Times reveals that the original Roumanian-American Synagogue location at 70 Hester Street (note the Moorish-style windows) was recently sold to an unidentified party for an undisclosed amount via Brown Harris Stevens (“Luxury Residential Real Estate”). The artist couple who ditched the 112-year-old building – Thomas Nozkowski and Joyce Robins – had lived there since 1967, but would change their primary residence in 1992. They’ve been month-to-month ever since, and were finally booted by the building owner in June. They won a stay of eviction until the end of the year – today. Pardon the cliche, but we should definitely fear the worst and hope for the best. Here’s why:
The existing building has roughly 4,000 square feet of space, but zoning rules would permit an 11,288-square-foot structure on the lot, which “makes this desirable for a developer,” the Web listing said. “But for the buyer who wants to renovate and own a piece of significant New York history, this dramatic synagogue is worth the restoration,” the listing continued. Whether the buyer considers it a tear-down or a fixer-upper is a mystery at the moment.
70 Hester also plays host to the mysterious window leafing of B.B. Muhlfelder.