WD-50 Development Site on Clinton Street Sells for Record Setting $28M
Posted on: September 8th, 2014 at 5:34 am by Elie
This image has been archived or removed.
Before 50-62 Clinton Street hit the open market two months ago, owner developer ICON Realty Management drew up plans with Issac & Stern for a new seven-story (74 feet) residential building. That proposal is very much still alive, thanks to the sale of the low-rise strip of retail. And a record one, at that.
Massey Knakal brokerage held onto the embattled development site for months, peddling the property for a whopping $28.95 million. Well, the realtors got their ask.
This image has been archived or removed.
Broker for the stars Fredrik Eklund giddily revealed on his Instagram page that the site netted the $28 million, a record price for these parts. $700 per square-foot, to be precise. If his post is gospel, then this hulk of masonry will indeed rise here. Check it:
SOLD! $28M… which is a record per sqft for the Lower East Side. I have been working on this almost 40-unit development site, 50 Clinton Street, for over a year, perfecting the layouts, unit mix, the finishes, all of it, when my developer Icon decided to sell… So we quickly found them a buyer, and sold the entire site at $28M, contracts got signed today. Now, the best part is we get to keep the building and bring all the beautiful residences to the market in the Spring.
This predatory development site spelled the end of a half-dozen mom-and-pops that operated in these one-story stores. Most high-profile of the closures, and final holdout, is Wylie Dufresne’s WD-50. Closing date is set for November. Fair warning.
Shakespeare in the Parking Lot is wrapping up its latest affair with a lesser known production from the Bard’s canon. Continuing the Lower East Side tradition, the Drilling Company is back at the Clemente for three final performances this week – to perform Two Noble Kinsmen. For this iteration, director Hamilton Clancy has taken the […]
It’s been nearly two years since the city was rocked by the fatal bludgeoning of homeless men on the Bowery while they slept. Of the five beaten by 24-year-old attacker Randy Santos, four ultimately died – Chuen Kwok, Anthony Manson, Florencio Moran, and Nazario Vasquez-Villegas. Chuen Kwok was a vulnerable senior who, after the passing […]
Police launched an investigation this week after an Asian woman was punched in front of a Chinatown flower shop in an apparent unprovoked attack. According to the report, the 68-year-old victim was collecting an item on the sidewalk when an unknown suspect clocked her in the face while passing. The incident, which transpired outside 179 […]
One person was stabbed during a dispute inside a Lower East Side laundromat on Sunday afternoon. The suspect was reportedly doing laundry inside the Delancey Laundromat (near Chrystie) at around 2:30pm when the altercation happened. The two had words before the attacker knifed the 54-year-old employee in the right rib. The victim was taken to […]
Going to the … deli … and we’re going to get married… The Lower East Side’s iconic Katz’s Deli has joined forces with Williamsburg wedding chapel, Sweet Hearts, to give couples a chance to tie the knot inside the 133-year-old eatery. With a hefty side of pastrami, of course. The $2,500 wedding package includes an […]
Last night, Community Board 2 overwhelmingly voted to reject what it called the “Mayor’s Plan” to rezone “SoHo, NoHo and Chinatown.” In a bold lead statement, CB2’s SoHo NoHo Working Group released a resolution that rejected the rezoning proposal as follows: “The proposed SoHo, NoHo and Chinatown rezoning fails to achieve affordable housing goals and […]
The financial standing at the Seward Park Co-op is apparently dire. Thursday afternoon, the board distributed a report outlining various updates. It speaks for itself. Of particular note is the so-called “Capital Update,” in which the board details the deterioration of “brick ties” on facades throughout the housing complex. To remediate the issue is a […]
After nearly a half-century, the Parisi Bakery spin-off on Elizabeth Street is kaput. The store closed for good over weekend, and movers were seen unloading equipment from the premises. Word on the street is that the land marked tenement recently sold. If true, however, public record does not yet reflect the transaction. Robert Parisi – […]
The following open letter was penned by Lower East Sider Kim Sillen. Dear Comptroller Stringer, Ten years ago, you were a terrific advocate for the Grand Street neighborhood on the Lower East Side, when you helped Friends of Gulick Park secure funding for the renovation of this small park that lies at the intersection of […]
Jackie Mason, one of the greatest comedic voices whose borscht belt schtick inspired generations, passed away on Saturday in Manhattan. The Catskills kvetcher was 93. According to TMZ, Mason had been hospitalized for more than 3 weeks … admitted with inflammation of the lungs. Obituaries aplenty. Jackie Mason was born Yacov Moshe Maza in Sheboygan, […]