Real Estate

Standoff - Jenifer Rajkumar vs. Gigi Li

Gigi Li Withdraws Campaign for District Leader Amidst Election Fraud Controversy

Last modified July 30, 2015 at 8:04 am

Gigi Li, sitting Chair of Community Board 3, has dropped out of the hyperlocal race for Assembly District Leader from Part C of the 65th Assembly District. She had been battling incumbent Jenifer Rajkumar, who will now remain in her position. The embarrassing withdrawal comes in the aftermath of her alleged forgery of petition signatures […]

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Elusive Extell Refuses to Confirm Building Heights of One Manhattan Square, and Other Updates

Posted July 30, 2015 at 4:58 am

Extell Development Corp. and project management firm LendLease visited the community last night to discuss the two sky-scraping towers it’s constructing along the Lower East Side waterfront. The developer has committed to holding quarterly meetings to update the neighborhood on the latest info, and potentially allay the rampant fears in the aftermath. Local politicians and […]

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Historic King Glassware Building on the Bowery Receives Rooftop Additions

Posted July 29, 2015 at 9:26 am

King Glassware operated on the Bowery for some eighty-one years, ending its run this past March. The building owner purportedly ran the supply business and decided to hang it up. Since the closure, however, renovations galore. Now some news that might anger local preservationists… The Department of Buildings recently issued permits for a job to convert […]

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Aby Rosen Purchased Women’s Shelter on Lafayette Street, Seeks Flagship Retail Tenant

Posted July 29, 2015 at 5:12 am

Last fall, Aby Rosen hit the supermarket sweep, as it were, scooping up several properties across Manhattan for his RFR Realty portfolio. The spree even netted the iconic Germania Bank Building at 190 Bowery. Another property acquired around the same time was the active homeless women’s shelter at 348 Lafayette Street, purchased for $26 million. That […]

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Hotel Indigo Delays Hell Square Hotel to November 1; Scaffolding Completely Removed

Posted July 28, 2015 at 9:22 am

Milestones galore for the Orchard Hell Building, a development ten years in the making. A public parking garage debuted last week on its backside; and this week, all scaffolding and plywood removed from the project site for the first time since at least 2006. However, Hotel Indigo delayed its grand opening yet again. This time, […]

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Ugly Joie de Vivre Hotel at 50 Bowery Ascends to 20 Stories

Posted July 28, 2015 at 5:19 am

The Grand Old Bank on the Bowery (i.e. the HSBC) is less so, trumped by Peter Poon’s ego. That new Joie de Vivre hotel rising at 50 Bowery is growing like a weed, having already ascended to a level of twenty stories (basically doubled its height in a month). The concrete superstructure is now visible […]

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Essex Market ‘Street Seat’ is Months Delayed, but Expected Soon

Posted July 28, 2015 at 5:14 am

The Essex Street Market is still banking on city-implemented infrastructure, albeit temporary, to help solve its foot traffic woes. As previously reported, the Lower East Side BID is working with the Department of Transportation to implement a seasonal Street Seat outside the brick warehouse on Essex and Delancey. And, of course, it’s delayed. Its debut […]

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Extell Flip-Flops on 250 South Street, Reducing Height Back to 72 Stories

Posted July 27, 2015 at 5:00 am

Flip to the flop, you don’t stop… Extell Development Corp. has again flip-flopped its total building height for the One Manhattan Square development. An amendment was filed with the Department of Buildings on Thursday to scale the height back to 72 stories, much closer to what was in the original plan. This slight, yet sudden […]

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East Luxe Unleashed

Ben Shaoul Sells ‘East Luxe’ Development on 2nd Avenue for $29M

Posted July 24, 2015 at 5:10 am

So much for the East Luxe development on Second Avenue. Slumlord Ben Shaoul walked away from the converted rental building, having sold out to real estate investor Sunny Yung for $29 million. The accepted sale price was an approximate sixfold return on his initial investment of $5.6 million. Shaoul purchased 31-33 Second Avenue back in […]

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Newsstand Proposed for Sidewalk Outside Union Market on East Houston

Posted July 22, 2015 at 5:13 am

The heavy foot traffic at the southern entrance to Alphabet City apparently requires a sidewalk newsstand. Specifically, the real estate right outside the Union Market at Avenue A, where the concrete widens. A proprietor from Jackson Heights – Sultana Parvin – will go before the Transportation subcommittee of Community Board 3 tonight to obtain the necessary […]

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