Progress Report: 250 Bowery Breaks Plywood Threshold

Posted on: February 7th, 2012 at 6:43 am by

No more urban tumbleweeds.  In the roughly ten months since the Lower East Side learned the fate of 250 Bowery, it’s been full steam ahead at the project site.  Quite a departure from the norm at this address given its checkered history.

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You’ll recall that 250 Bowery was to birth a luxurious boutique hotel for the new landscape of Bowery 2.0.  Instead, it became a rat-infested wasteland and garbage depository shortly after ground broke in 2008. The economy took a giant shit and flushed away this development, along with so many others in the neighborhood (some are now bouncing back).  The property was foreclosed upon a year later, and eventually snapped up by the Vella Group for $9,272,250. Plans call for an eight/nine-story mixed-use residential building. It’ll probably look something like this:

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With the foundation poured many moons ago and the superstructure already taking shape, the new building is progressing at quite a clip.  In just the last week alone, the first level has already popped above the plywood threshold.  Point of no return long gone.

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