151 Bowery Sells for a Record $23.5M

Posted on: March 20th, 2014 at 6:00 am by
151 Bowery (aka 331-333 Broome St.)

151 Bowery (aka 331-333 Broome St.)

The squat three-story anchor at the southeast corner of Bowery and Broome just sold for $23.5 million. Buyer remains unknown, and there is currently nothing on file with the city.

This final price is a record for the lighting district, according to Jan Sasson of E Property Group, who represented the seller in the transaction. Included in the deal is an additional 42,000 square-feet of air rights.

151 Bowery also includes frontage and another entrance at 331-333 Broome Street.

A relatively new lighting store occupies the ground level, but don’t expect much in the way of longevity. Not when its valuable space has undergone considerable inflation.

Recent Stories

Good-locksmith-1
Longtime Grand Street Hardware Store ‘Good Locksmith’ is Moving [Updated]

Good Locksmith, the reliable mom-and-pop hardware shop located at 317 Grand Street, is reportedly moving next door. They’ve been on the Lower East Side for more than a decade. A sign inside the store alerts customers, as do the bare shelves. Update: a reader tells us, “I spoke to stephen who the grown son and […]

260South-cherry-facade
Reveal: Lands End II Parking Lot to Get 800-foot, Twin-Towered Beast

Three years after acquiring the two low-income buildings comprising Lands End II (265-275 Cherry Street) for $279 million, L+M Partners and the CIM Group are planning to develop the parking lots facing the water (aka 260 South Street). It’s another of the so-called “soft sites” along the Lower East Side waterfront receiving renewed attention from the industry […]

fitz-webster-1
Women In Music To Host Annual Holiday Party at Webster Hall

It’s that time of year again. Women in Music, a nonprofit organization dedicated to advancing equality and diversity for women in the world of music, is hosting its 31st annual holiday event and fundraiser. As in years prior, there’s much to celebrate when it comes to contributions and successes of women in the music and entertainment industries. While rubbing […]

christmas-tree-essex
Santa Claus is Coming to the Essex Street Market Tomorrow

Here’s one Santa who won’t be puking all over the Lower East Side. That’s right: jolly old St. Nick is coming to the Lower East Side this weekend. It’s all part of Essex Street Market’s annual yuletide cheer, which includes making your own ornament, trimming the Market Christmas tree, and hot chocolate and candy canes for everyone, despite […]

soft-swerve-allen-1
‘Soft Swerve’ Ice Cream Shop Debuts on Allen Street, Just in Time for Winter

Perfect timing. Soft Swerve has been ready to go for weeks now. The nascent ice cream shop at 85B Allen Street first announced itself back in early October, when workers promised an imminent opening. That didn’t happen right away, though, because the electricity system reportedly required an upgrade. That was what a store employee told us […]