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This image has been archived or removed.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

Electeds Descend Upon Chinatown to Rally Against Hate

In the aftermath of a string of (potential) anti-Asian crimes across the city, several hundred people attended a rally as a show of support. It was held in Foley Square, not far from the incident last Thursday, in which a random attack on a Chinese man with an eight-inch kitchen knife left him clinging to life in a […]

‘Best Wingers’ has Flown the Coop on Delancey Street

Best Wingers has flown the coop. The Lower East Side chicken joint, an offshoot of the decades-old Murray Hill restaurant, recently closed its Delancey Street location. A large lease sign currently hangs in the windows. Sum told, Best Wingers spent nigh on three years here at the foot of the Williamsburg Bridge. It had signed […]

Mi Salsa Kitchen Now Serving Cuban Cuisine on Allen Street

The Lower East Side now boasts a new Cuban restaurant in its restaurant ranks. Mi Salsa Kitchen opened last week at the southeast corner of East Houston and Allen Streets, serving up self-proclaimed “authentic Cuban cuisine.” The restaurant is currently open for walk-in dining and fulfilling takeout orders. Also via Grub Hub and Seamless. Current […]

Seward Park Now Bookended by Fast Food Crab Restaurants

Crab cuisine is now du jour in the Seward Park environs, which is bookended by such fast food joints. Two seemingly identical establishments. Seafood chain Crab Du Jour planted a flag at the former La Flaca on Grand Street earlier this year, and should open in the coming days. At the same time, just a […]

Cops Offer Reward for Info on Clinton Street Shooting Suspect

Police are now offering a reward for information in connection with the road rage shooting on Clinton Street last month that injured a 75-year-old bystander. At approximately 11:55am on February 16, a motorist driving what was reported to be a black BMW sedan turned right onto Clinton Street from Delancey, narrowly missing a pedestrian. Cops […]