David Edelstein Buys 250 Bowery Retail Condo for $15.75M

Posted on: August 12th, 2013 at 6:13 am by
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Anthropologie canceling its store at 250 Bowery was certainly a surprise in these parts. Due to alleged disapproval of the buildout, the fashionista brand suddenly backed out in June, rendering the branded rusty facade obsolete. But we all know another of its ilk can’t be too far behind. Anyway, the news crossing our desk this morning is that the retail condo was sold off by owner Zach Vella (250 VE LLC).

According to real estate company RKF, the 11,000 square-foot property was purchased by an affiliate of developer David Edelstein’s Tristar Capital (250 Bowery Star LLC) for $15.75 million. No joke.

Said the onetime cab driver David Edelstein, President of Tristar Capital:

The Bowery vibe has been building for several years now thanks to an eclectic mix of restaurants, hotels and stores that now call the Bowery home.

My partners and I are thrilled to have seized an opportunity to own one of the finest properties located in the very heart of the Bowery. We’re also excited to play a more active role in the ongoing transformation of this trendy district.

Edelstein is also known in the game for transforming the Desert Passage in Las Vegas into the Miracle Mile Shops. So we have an idea of the future here…

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