Landmarked 339 Grand Street Back on the Market for $6M

Posted on: August 11th, 2014 at 6:03 am by

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339 Grand St. was built in 1832

Longtime owners of Ideal Hosiery – the Auerbach family – are apparently still looking to divest their landmark property on the Lower East Side.

Precisely around this time last year, we caught wind that 339 Grand Street was placed on the open market. Red flags were raised across the community, as this structure is one of the most intact Federal-style row houses in the city. The Auerbachs had asked a price of $5 million.

Preservationists predictably scrambled into action and somehow caught the ear of the Landmarks Preservation Commission. The 1832-era building was designated a landmark by the LPC a short time later. A record, perhaps – roughly four months.

But now, one year later, the purchase price has increased by a cool million. 339 Grand Street is presently on the block for $6 million. At least according to the stream of Craigslist postings the last few weeks (now expired).

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The listing trumpeted the property as a “prime development opportunity” (naturally) with plenty of air rights to boot. One problem, though. As mentioned above, 339 Grand Street is now a landmark. So potential buyers cannot simply tear down the building and erect some glass dildo on this corner. Any potential changes would first be considered by the LPC.

339 Grand Street is a Federal-style row house that was first built in 1832. Even though its storefront is not original, the building has remained as is since 1932. According to the New York Landmarks Conservancy:

333-339 Grand Street is a row house that had undergone some alterations, but still had many details intact. By 2003, the immediate neighbor at #337 had been altered to the point where it could no longer be recognized as anything historic, splintering the the row, and diminishing the character of the block.

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