Real Estate Listing

171bowery

171 Bowery ‘Development Site’ Hits the Market for $12.5M

Posted May 25, 2016 at 5:00 am

“OBEY the future; Join the most exciting avenue in NYC.” That’s the proclamation from a new real estate listing circulating for 171 Bowery. The four-story tenement building, located just south of Delancey Street (and across from the ascending CitizenM monstrosity), is now on the open market as a $12.5 million “development site.” Jan Sasson of the […]

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Streets

249broome-retail

After $12.3M Sale, Longtime Chinese Laundromat Forced from 249-251 Broome Street

Posted May 24, 2016 at 5:17 am

The reliable Sun Kwong Laundromat at 251 Broome Street was given its marching orders last week. Alas, its final day serving the neighborhood is tomorrow (May 25). There is a sign on the front door alerting patrons that the business lost their lease. The laundromat kept the area in clean clothes for more than a decade, and […]

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70hester-2016

Original Home of Roumanian-American Synagogue on Hester Street Sells to Brazilian Developer for $5.9M

Posted May 19, 2016 at 5:10 am

The original home of the First Roumanian-American Synagogue at 70 Hester Street (designed by Frederick Jenth in 1881) finally sold this month after an extended period on the open market. A few years after the first listings first surfaced, Brazil-based real estate developer Eduardo de Souza Ramos of Cerfco Participações acquired the three-story building for $5.9 million. […]

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patricia-field-sale

Thor Equities Picks up Former Patricia Field Store for $8.2M

Posted May 18, 2016 at 5:11 am

Thor Equities is now the rightful owner of the retail space at 306 Bowery. In doing so, the billion-dollar-barons have an even larger toe-hold on the Lower East Side. Joe Sitt and company shelled out a wallet-busting $8.2 million for the 6,700 square-foot location (ground + basement). “The Bowery is continuing its transformation into one […]

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Streets

fat-radish-orchard

Fat Radish Retail Condo on Orchard Street Sells for $2.5M, but the Restaurant will Stay

Posted May 17, 2016 at 5:10 am

It took almost three years, but the commercial condo that Fat Radish calls home finally changed hands. The ground floor of 17 Orchard Street just traded for $2.5 million, a few hundred-thousand higher than the initial asking price. Eastern Consolidated arranged the sale of the 2,500 square-foot space to Elijah Equities (aka the Haddad family). […]

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331easthouston-1

Five Months After Debut, Luxury Rentals Development ‘The Jones’ is for Sale

Posted May 13, 2016 at 5:09 am

In keeping up with the Jones, we discover that not all is great at 331 East Houston Street. Barely five months after its inauguration, that newfangled thirteen-story luxury residential building is looking for a sugar daddy. The Jones, as the development is dubbed, is currently on the market for an undisclosed sum. Apartments in this […]

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allen-hotel-auction-1

Stalled Allen Street Hotel Sells in Auction for $30.75M; Moinian Father and Son Now Own Hotels Here

Posted May 11, 2016 at 5:11 am

After a drawn-out foreclosure process wrought with drama and years sitting vacant, the sixteen-story Allen Street Hotel is finally under new ownership. The properties comprising 139-141 Orchard Street sold in auction yesterday to real estate tycoon Morris Moinian and his partner Morry Kalimian of Elk Investors. The duo paid $30.75 million for the eyesore, and plans […]

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Streets

amarcord-1

Amarcord Vintage Forced from SoHo After Purported 400% Increase in Rent

Posted May 2, 2016 at 5:13 am

How many different ways (or number of times) can this same story be told – building sells, landlord hikes the rents to unaffordable levels, small businesses succumb as a result. We see this progression play out so often it’s scary. Amarcord Vintage is the latest commercial venture to fall victim to the disturbing trend. The sixteen-year-old […]

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118orchard-makeover

First Look at the 12-Story Tower that Chased MOSCOT from its Old HQ on Delancey

Posted April 27, 2016 at 9:26 am

For four years, a twelve-story tower has been promised for the northeast corner of Orchard and Delancey Streets. The project is no closer to reality, but there are rudimentary renderings available that showcase the newcomer. Helm Equities (aka David Escava) purchased 118 Orchard Street (aka 86 Delancey) in 2012 for $4.8 million. This transaction was […]

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When Tristan Eaton painted a mural at 77 Rivington

2 Rivington Street Properties Adjacent to Allen Street Mall on the Auction Block for $11M+

Posted April 22, 2016 at 5:14 am

The bones of a stalled Lower East Side hotel development are being picked apart piecemeal. DAB Group’s dream is done. As part of the overall failure of the Allen Street Hotel on its backside, two adjacent properties on Rivington Street are similarly up for auction. A U.S. Bankruptcy Court judge is soliciting bids, via Eastern […]

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