Still on Market for $16.5M, Low-Rise Delancey Street Retail Attracts ‘Cricket Wireless’

Posted on: October 16th, 2015 at 5:14 am by
This image has been archived or removed.

​Cricket Wireless is expanding its portfolio of stores on the Lower East Side. Currently with three service spots on its roster, the four-year-old mobile provider just added another. And in a curious location, too. The low-rise strip of retail by the Williamsburg Bridge.

For nearly three years, property owners Ashkenazy Investments advertised the corner space for lease at 156-164 Delancey Street. Even after thirty-year-old Sneak Jeans called it quits. There were no takers until this week, when Cricket Wireless decided to open an outpost here. The aforementioned banner has been removed, but the marquee remains without signage.

Cricket is a prepaid mobile service with 5 million subscribers, and currently owned by AT&T Wireless (purchased in 2014).

However, this seems like a short-term measure; rearranging the deck chairs on the Titanic, if you will. 156-164 Delancey is still on the open market nine months later. The exact pitch changed in the interim, too. Rather than offering only the residential development rights and retaining the retail component, Ashkenazy backtracked and would now like to unload the whole shebang for $16.5 million.

The subject property is currently improved by a one story commercial building built full on the approximately 109’ by 25’ lot. Under the existing R8A/C6-2A zoning with a C1-5 overlay, a developer could build up to approximately 14,715 square feet as-of-right or approximately 19,620 square feet through utilization of the optional Inclusionary Housing Bonus. The C1-5 overlay allows for up to 2.0 FAR for commercial use, providing potential purchasers the opportunity to construct valuable retail space that will benefit from the tremendous frontage on Delancey Street and heavy foot and vehicle traffic from both Essex Crossing and the Williamsburg Bridge.

Sitting in a C6-2A zoning area, the developer can build up to twelve stories with inclusionary housing bonus. There is no such thing as low-rise on the Lower East Side anymore.

Recent Stories

Man Hit in the Head with Baseball Bat, Robbed on Broome Street

Some crime to report on the new doorstep of Essex Crossing. A man on the eastern fringe of Broome Street was clocked in the head with a baseball bat, and then robbed of his computer, police said. The victim was apparently on his way to a date Monday afternoon when he was struck on the […]

Martin Keehn Boutique Celebrates New Home on Ludlow Street

Menswear designer Martin Keehn began selling on the Lower East Side nine years ago. The boutique occupied a unique fractional address across from Seward Park – 27 1/2 Essex Street – until last summer. The eponymous store made the move around the corner to 53 Ludlow Street back in August. (This was the former home […]

PS 142 on Attorney Street Awarded New Mini Soccer Pitch

Already with a rehabilitated playground, students at PS 142 are set to receive another school yard amenity. A soccer pitch. The new field is part of the nascent NYC Soccer Initiative, public-private program between the Mayor’s Fund to Advance New York City, the U.S. Soccer Foundation, New York City Football Club (NYCFC), U.S. Soccer Foundation […]

Dry Dock is Another ‘Cool Pool’ Undergoing Cleanup for the Summer

Something as simple as a fresh coat of paint and updated decor has reinvigorated public pools around the Five Boroughs. It’s part of the city’s so-called “Cool Pools” initiative, which boosted overall attendance last year by 27.2%, per published reports. This summer, the Dry Dock pool in Alphabet City will get the treatment. And, to […]

It Might be Awhile Before ‘Sauce’ Reopens on Rivington Street

Don’t hold your breath for Sauce, the Rivington Street Italian restaurant that’s been closed since late-December. Even though its eponymous pizzeria is serving slices next door, the OG Sauce, a locals favorite, remains down for the count thanks to a kitchen fire over the holiday season. The blaze KO’d both the eatery and a couple […]