Under New Ownership, Rebranded 249 Broome Street Now Has Some ‘Sparkle’
Hell Square retailer Yaf Sparkle has a new home south of the Delancey divide, one that’s seen quite a bit of activity, both physical and legal, in the last year.
Under new ownership, 249 Broome Street emerged from its extended renovation period a couple months ago. The result is a rebranded property – upscaled, you might say – that came at the expense of residents and commercial tenants.
Mark Silver (aka Broome Partners LLC) shelled out $12.3 million to acquire the six-story walkup buildings one year ago. Until this transaction, the property had been under the same ownership for some three decades – seller Kuo Chiang Chang (MHK Realty). The new boss had been renovating both the residential and commercial space during that time.
Most obvious was the loss of the Sun Kwong Laundromat last July, a local business which kept the area in clean clothes for more than a decade. The Zest restaurant is also threatened, as evidenced by several recent real estate listings.
It is here, in the west store, that Yaf Sparkle signed a lease. The move is a boost for the brand – a larger store and in an area with more foot traffic (though, not necessarily the spending kind). The indie jewelry boutique – headquartered at 158 Orchard Street since 2012 – unveiled its new signage in the former laundromat space last week.
Meanwhile, tenant life was allegedly interrupted while the landlord upscaled for luxury. Over the last year, those living here allegedly lived without cooking gas for months at a time, as well as exposed to demolition dust and the potential for lead (signs to that effect had been posted in the entrance).
Nevertheless, these complications are now collectively water under the bridge. Broome Partners LLC reportedly settled with the tenants, who had previously organized into the 249 Broome Street Tenants Association. A spokesperson from AAFE, which worked on the case, provided the following statement on the living situation.
The 249 Broome Street Tenants Association has resolved their issues with the landlord and continue to work together. All the parties agreed to keep the terms confidential. We have no further comment on this issue at this moment.