Federal-Style Row Houses at 140-142 Bowery on the Block for $22M

Posted on: February 24th, 2014 at 5:34 am by
This image has been archived or removed.

Big news in the Bowery lighting district. Two Federal-style row houses are currently on the open market. 140-142 Bowery, the former headquarters of Lighting Library/Classic Lighting, is being pitched as a prime “development opportunity” for $22 million. Wow. How can a buyer afford not to develop?

Neighbors fearing the tower of doom scenario can rely on zoning to help limit. This property resides in the Special Little Italy District, which restricts building heights to 85 feet.

Here’s the skinny on the real estate listing.

This property consists of two adjacent vacant commercial properties that are in the process of being demolished. With a combined lot area of 5,199sf, 140 Bowery (2,537sf) and 142 Bowery (2,662sf) is prime for commercial and/or residential development. The zoning is C6-1G and the parcels of land lie within the Special Little Italy Zoning District (SLID). This zoning allows for an FAR of 6.0 (commercial) or 3.44 (residential). Due to the site being located in a SLID Area C zone, there is a 85” height limit. The maximum buildable sf assuming an FAR of 6.0 (commercial) is 31,194 buildable sf.

The Subject property is located along the strip of Bowery that is undergoing rapid gentrification. This site is within walking distance of B,D,J,6,N,R,Q trains. It provides easy access to all parts of the city and is just a block from prime Soho and Lower East Side. With the influx of new museums, restaurants, hotels and retail on Bowery, this parcel of land is poised to be one of the candidates for prime development.

You’ll recall that 140-142 Bowery was categorically humiliated a couple years ago when its owner removed the trademark feature of these row house relics. The rooftop dormers. At the time, preservationists were fighting for several similar structures on the Bowery, so their excising was certainly suspect.

Lighting Library departed last year, leaving an empty showroom for the taking. Aside from the seasonal Halloween store that popped up last fall, nothing’s been happening here. Empty to attract a sale. So this listing makes sense.

Expect demolition real soon…

Recent Stories

This Guy was the First Customer at Trader Joe’s on the Lower East Side

People queue for anything. Here on the Lower East Side, it was for the Friday morning debut of Trader Joe’s on Grand Street. After years of hype, anticipation, and plenty of delays, the specialty grocer is finally a reality. It occupies 30,000 square-feet in the basement of The Rollins building at Essex Crossing (aka Site […]

City Council Holds Public Hearing Today on ‘Small Business Jobs Survival Act’

After languishing for over thirty years, a lifeline might be thrown to struggling small business owners. City Council later today is holding a public hearing for the polarizing Small Business Jobs Survival Act. Only in the last couple years has the forsaken legislation gained traction, owed in large part to the #SaveNYC grassroots campaign founded […]

The Bowery Lighting District Just Lost its Biggest Store, Lighting by Gregory

The Bowery Lighting District is reeling after losing its biggest store. Lighting by Gregory – located between Kenmare and Broome Streets for decades – faded from the landscape last week. The business shuttered, leaving behind multiple storefronts at 156-158 Bowery for the take. Apparently the company is in the throes of Bankruptcy filing, and the […]

When the Rear Garden Grows the 28-Story Public Hotel

For the last year, 215 Chrystie Street has been the address of Ian Schrager’s posh Public Hotel (and condos). Before the 28-story development, though, this city parcel was the rear yard, and garden, for the Thelma Burke building on Stanton Street. The New York Times just published a new feature, “How a Garden for the […]

Founded on the Lower East Side, B’nai Brith Celebrates 175 Years

The oldest Jewish service organization in the world began here on the Lower East Side, and this year celebrates a major milestone. B’nai Brith International (“Sons of the Covenant”) – now in its 175th year – was founded on Essex Street in October 1843 by a dozen immigrants of German-Jewish descent. Of course, at that […]