Developer Angelo Cosentini Sells 126-130 Delancey for $21M

Posted on: January 31st, 2013 at 6:48 am by
This image has been archived or removed.

Heretofore owned by Blue developer Angelo Cosentini, the three-story commercial frontage at 126-130 Delancey just traded hands for $21 million. The 22,875 square-foot property, situated at the northwest corner of Norfolk Street, had been on the open market for several years with an asking price of $22.75 million, and was most recently marketed by Massey Knakal last fall. According to the Real Deal, the lucky buyer is Carter Management, a “full-service real estate development, management and consulting organization.”

126-130 Delancey is currently home to budget big-box tenants Payless Shoe Source and Children’s Place, as well as the Comprehensive Center for Rehabilitation. The three commercial leases reportedly expire in 2021. A relative eternity in city time.

Recent Stories

This is the Car Horn Every Pedestrian Needs [VIDEO]

In a world driven by technology, here’s a welcomed, albeit impractical, analog solution to a maddening pedestrian problem. We’ve all had to deal with it at one point or another. An indecisive three-wide, ambling past a restaurant. Sidewalk selfie snappers. Tourists in herd formation. iZombies. Children walking irrationally. There’s only so many times you can […]

Cherry Street Hockey Rink Resurfaced with Turf Field

Street hockey players in the city, but the Lower East Side especially, are now short-handed. The ever-reliable Tanahey Playground rink on Cherry Street is officially gone. The city removed the rotting boards and benches last week, and completed carpeting the concrete with AstroTurf. As first reported last summer, the space was repurposed to accommodate organized […]

How One LES Block is Losing Because of Ongoing MTA Work

As the MTA continues its infrastructure work outside Sara D. Roosevelt Park, the surrounding community continues to bear the brunt. As we’ve been reporting, the job is to replace the outdated subway ventilation plant fifteen beneath the roadbed at Forsyth and Delancey Streets. Already in the works for three years, installation of this new Emergency […]

‘Good Luck’ Runs out for Orchard Street Massage Parlor, Busted for Prostitution

It appears the Good Luck Spa on Orchard Street ran afoul of the law. Shuttered by court order due to alleged prostitution. (And therefore perpetuating the stereotype of illicit Chinatown massage parlors.) The business, which relocated here from Grand Street four years ago, was ordered closed by court order last Thursday. Stickers on the drawn […]

Report: Notorious Landlord Michael Shah Arrested Twice for Allegedly Assaulting Girlfriend then Violating Protection Order

Notorious landlord and developer Michael Shah, whose properties and bars dot the Lower East Side, was twice arrested this fall regarding the alleged assault of his model girlfriend. The news comes to light in a New York Post article that focuses more on Shah’s recent filing of a complaint related to a summertime “attack” in […]