Trio of Forsyth Street Tenements Fetch $9.82 Million
A trio of Forsyth Street tenement buildings just fetched $9.82 million, the first sale of these properties (72, 74, & 104) in more than three decades. All are located between Broome and Hester Street, and were apparently “delivered fully occupied” with rent stabilized tenants. Of course, that’s always a bone of contention, isn’t it.
This image has been archived or removed.
The dude who brokered the portfolio sale, Josh Goldflam, was rather blunt about what the new owners could do with their investment. Basically, boot all the regulated tenants and raise the rents. Here’s the cringeworthy quote:
“These properties offer an excellent opportunity for the new buyer to increase the rent roll through the renovation and deregulation process as the apartments become vacant,” said Goldflam.
“There are even a couple of rent controlled units remaining which are paying less than the monthly parking garage spots down the block.”
“As the apartments become vacant” appears more like a euphemism for shady landlord activity to deregulate apartments.
This image has been archived or removed.
Recent Stories
Threatened East River Park Buildings Recognized for Architectural Distinction
The following guest post was written by Deborah Wye, a member of the Lower East Side Preservation Initiative board of directors. Two East River Park Art Deco gems were recently deemed eligible for the State and National Registers of Historic Places by the New York State Historic Preservation Office (SHPO). Both the Track House near […]
Suspected LES Killer Dressed as Ninja While Dismembering Tech Entrepreneur in his Condo
The gruesome butchering of a tech entrepreneur this week is playing out like the plot of a slasher movie, and has the Lower East Side on edge. According to published reports, a killer clad in ninja outfit decapitated and dismembered Fahim Saleh in his $2 million condo on East Houston Street Tuesday afternoon. The victim’s […]
There is a Rooftop Soccer Field on this Madison Street Building
The Ground is where soccer meets tar beach. Down in Chinatown, where Madison Street meets the de-mapped Mechanics Alley, beside the Manhattan Bridge, is a one-story warehouse dedicated to soccer. The Ground, which recently relocated from Monroe Street, opens later this week at 130 Madison. And with it, an indoor soccer field and rooftop pitch. […]
Revisiting the Rise of Brooks Brothers on the Lower East Side
Last week, Brooks Brothers filed for Chapter 11 bankruptcy protection, citing the coronavirus shutdown and fashion trends toward casual. Two firms are vying to acquire the 202-year-old formal wear company and inject new capital. Ergo, the time seemed appropriate to revisit the store’s connection to the Lower East Side. Brooks Brothers was actually founded near […]
Decapitated and Dismembered Man Found Inside East Houston Condo Building
The body of a decapitated, dismembered man was found inside a luxury Lower East Side condo yesterday afternoon — purportedly stuffed in plastic bags beside a power saw. According to the New York Post, police arrived at the bloody scene shortly after 3:30pm Tuesday, responding to a welfare check placed by a friend of the […]
