Massey Knakal

Caspi Development Looks to Flip 135 Bowery for $25M

Posted July 13, 2017 at 5:00 am

It’s quite sad that 135 Bowery has gone from historic Federal-style row house to little more than another Lower East Side speculative property. Its current owner of roughly two years – Caspi Development – is now looking to unload the property for $25 million. If the price is right, that’s a $9 million profit. Cushman & […]

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Streets

Hecho en Dumbo is Endangered as its Bowery Condo Space Hits Market for $6.25M

Posted May 18, 2017 at 5:08 am

It would appear that the proverbial rug is being pulled from under Hecho en Dumbo on the Bowery. The condo unit it leases, located at 354 Bowery, just hit the open market for $6.25 million. Cushman & Wakefield is the exclusive broker, and listed the property this week. According to the broker-babble, the “fully vented […]

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Streets

Historic Clinton Street Synagogue Lists Alley Lot for $5.25M

Posted April 3, 2017 at 5:00 am

Congregation Chasam Sofer is getting into the real estate speculation game on the Lower East Side. The Clinton Street synagogue just listed its adjacent lot for a hefty sum. This 2,000 square-foot gated walkway on its southern flank, which doubles as a landscaped garden complete with fountain, is now on the market for $5.25 million. The […]

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Hotel Chantelle HQ on Ludlow Street is up for Sale

Posted December 16, 2015 at 5:17 am

The stout mid-block warehouse building that houses Hotel Chantelle is now up for grabs. It appears the landlord (Margie Salstein, per public record) placed the property on the market, and is currently fielding offers. Capitalizing on Essex Crossing while still in its infancy. The real estate listing does not show a price tag, but think […]

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Sandblasting History: 41 Great Jones Street Condo Conversion is Now for Sale

Posted December 11, 2015 at 5:00 am

Nearing its 126th birthday, 41 Great Jones Street will not only go under the knife, but also change hands. Let’s recap. Deep-pocketed developer Blumenfeld Development Group acquired the property in 2013 for an even $11 million. For more than fifty years, Acme Sandblasting Company operated onsite, but closed post-transaction. The initial goal was to convert […]

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The Peace Pentagon on Lafayette Street Hits the Market Again as Development Opportunity

Last modified March 2, 2015 at 1:34 pm

For the second time in exactly five years, the storied Peace Pentagon on Lafayette Street, the decades-long haven of progressive activism owned by the AJ Muste Memorial Institute, is again on the chopping block. Price of the pitched development site is not listed (i.e. soliciting offers), but the last ask was pegged at $5.95 million. […]

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A Block from Jarmulowsky Hotel, 15 Orchard Street Hits the Open Market for $4.5M

Posted February 17, 2015 at 9:21 am

With the 105-room Jarmulowsky Bank Hotel still a couple years from reality, the immediate area is already benefitting. Well, for the landlords, at least. Prices keep increasing here on the outskirts of Chinatown. The latest example is this stout, four-story tenement at 15 Orchard Street. The mixed-use building hit the market last week for $4.5 […]

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Maisels Moving out of the Germania Bank Building on the Bowery

Posted February 5, 2015 at 5:10 am

It’s actually happening. The day has come. Photographer Jay Maisel is moving out of his historic mansion on the Bowery. The graffiti mecca known as the Germania Bank Building, where the family has lived for almost fifty years. A muthafuckin half-century. Belongings are now leaving the premises, though, with moving trucks having become a somewhat […]

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Streets

Park Avenue Developer Bids $33M for Long-Stalled Allen Street Hotel

Posted January 22, 2015 at 5:12 am

One midtown developer is willing to pay $33 million for the beleaguered Allen Street Hotel. Unless they’re outbid. Yes, the convoluted history of the Allen Street Hotel is taking another turn toward the unexpected. At a height of sixteen stories, this zombie property, the last of five Hell Square hotels to reach completion, has been […]

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Last Low-Rise Section of Delancey Retail Being Sold as Development Opportunity

Last modified January 29, 2016 at 1:33 pm

For the last two years, a highly visible leasing banner wrapped the single-story commercial stretch comprising 156-164 Delancey Street. Basically, ever since Ashkenazy Investments acquired the property from Yeshiva University for a reported $6 million. No businesses took the bait, yet pretty much everyone around here knew that the new landlord was just sitting on […]

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