The Future of 250 Bowery

Posted on: January 11th, 2011 at 6:08 am by

250 Bowery has had a tumultuous life in recent years. The original row of buildings that had been standing for decades was dismantled in 2006 to make way for a high-tech boutique hotel by FLAnk Architects, complete with geothermal wells.  Yet, like so many other new neighborhood developments, it went belly up after the economy took a giant shit in 2008.  Soon thereafter, the project was foreclosed, and the pit of doom became a rat-infested junkyard.  Graffiti, trash bags, discarded clothes, and used tires were all par for the course.

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But a glimmer of hope shines in the distance for 250 Bowery. As Curbed reported back in October, the distressed property was snapped up by the Vella Group for $9,272,250.  It was also announced at the time that an eight-story, mixed use residential building would rise here.  Not a hotel.  Well, within the last week, the familiar signage appeared at the long vacant worksite, promising nine stories and a completion date of July 2012.  And apparently this new development will help improve the quality of life for New Yorkers.

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Construction should allegedly begin by springtime.

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[256 Bowery in 2005; Photo Credit: RK Chin]

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