‘A. Feibusch’ Might Get Unzipped from Allen Street as 2-Story Property Hits Market for $6M

Posted on: November 10th, 2017 at 5:00 am by

It’s one of our favorite buildings in the area, and might meet the wrecking ball in the not-too-distant future.

The A. Feibusch Corp. zipper supplier (aka Zipperstop) – located on the Lower East Side for over seventy years – is probably counting down the days. Indeed, a real estate listing just hit the market that pimps 27 Allen Street as a prime development opportunity in “one of Manhattan’s most exciting and emerging markets” (didn’t that already happen?).

In fact, the Feibusch lease expires in March 2018. Which means that the three floors of of zippers in 502 different colors might soon be emptied.

Here are the details, per brokerage Cushman & Wakefield:

The C6-1G zone allows for a mix of uses including Residential, Commercial and Community Facility. A developer could build a Residential development of approximately 7,594 BSF (3.44 FAR), Commercial of 13,246 BSF (6.00 FAR) or Community Facility of 14,350 BSF (6.50). Due to the strong demand for retail, office, hotel and residential space in the immediate area, a developer would benefit from building a mixed-use building between 13,246 BSF and 14,350 BSF. The area has witnessed a tremendous amount of new development in recent years.

The two-story building itself, meanwhile, is listed for $6 million. Seller of record is the Sherman family, which has owned 27 Allen Street since at least 1974, according to public records.

The Zipperstop business is run by nonagenarian Eddie Feibusch, who has been at 27 Allen Street since 1982. That’s the year his business moved from its longtime headquarters at 111 Hester Street (where it had been since December 1941).

If this one goes, don’t be surprised if the adjoining brick buildings follow…

Recent Stories

‘Zagrat’ Rated ‘Squeakeasies’ Are All the Rage for Area Vermin

New Yorkers aren’t the only unfortunate ones facing gentrification. It’s the dawn of a new era, one in which venerable rodents no longer set fires to cars or shack up in rotting constructions sites because they have to. Nay, because they want to.  And, naturally, a gentrified pest is in need of the finer things. […]

What the Inside of the Gutted Cup & Saucer Looks Like Now

Cup & Saucer ended its decades-running tenancy at the northwest corner of Canal and Eldridge Streets back in July. Since then, the restaurant space has been a dormancy, with the only activity the removal of that classic signage and the installation of leasing banners. Now, all of it is gone. Yesterday, however, provided a unique […]

Pajama Pop-Up ‘Gelato Pique’ Coming to Orchard Street

No, it’s not what you think. Not another ice cream shop for Hell Square. To the contrary, this misnomer of a pop-up at 144 Orchard Street is for pajamas. The new outpost – a holiday shop for Gelato Pique – is poised to open here next week (November 28). Teaser posters are hanging in the […]

Essex Crossing’s First Park Comes Into View on Broome Street

Here is an early glimpse of the new park plaza Essex Crossing is bringing to the Lower East Side. Behind the boards at Site 5 – aka 145 Clinton Street – bones of the outdoor infrastructure are now in place. According to the weekly email update from Delancey Street Associates, this “plaza work” includes “staging […]

Essex Street Market Warehouse Gets Demolition Death Shroud Ahead of Phase II Development

More than seventy-seven years after its construction at the behest of Mayor Fiorello La Guardia, another Essex Street Market building is on death’s door. The shroud of netting and scaffolding was affixed to the facade of 140 Essex Street (aka Site 8) last week. Another piece of Lower East Side history razed; yet the end is […]