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This image has been archived or removed.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

New Condos Teased at 15-Story ‘One Essex Crossing’

Each month brings more significant updates for Essex Crossing. On the heels of the International Center of Photography launching its new flagship, the billion-dollar Lower East Side development this week rolled out more info about the CetraRuddy-designed condo tower at 202 Broome Street (aka Site 3). Dubbed One Essex Crossing, the fifteen-story newcomer features 83 […]

Broome Street Gets an Exclusive Nightclub by Omar Hernandez

Where Happy Ending once tormented this Broome Street block, and Better Days was anything but, something uber-upscale is now replacement. Perhaps even too upscale for its own good. By now you’ve probably seen the well-placed hype pieces about the newest nightclub at 302 Broome Street, led by nightlife impresario Omar Hernandez. He converted the space […]

Ten Injured, Including Firefighters, in Massive Mulberry Street Blaze Last Night [Updated]

The three-alarm blaze that engulfed 70 Mulberry Street last night spread quickly, destroying the upper levels of the historic Public School 23. The fire started shortly after 8:45pm on the fourth floor. Firefighters from Ladder 20 and police from the 5th Precinct were the first responders. More than two hundred fire personnel ultimately arrived to […]

3-Alarm Fire Engulfs PS 23 Building on Mulberry Street

Shortly before 9pm this evening, a three-alarm fire was sparked at 70 Mulberry Street (at Bayard). Within minutes, the historic building – erected in the nineteen century as Public School 23 – was in flames. More than one hundred firefighters were called to the scene to battle the blaze which is apparently confined to the […]

The Year of the Rat Scurries In

It’s the Year of the Rat! This week marks the 21st year of New York City’s Lunar New Year celebration, and no doubt the organizers are scurrying around in preparation for a veritable smorgasbord of festivities. As in years past, the festivities will kick off with the explosive Firecracker Ceremony Saturday morning at 11:00am (January 25) […]