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This image has been archived or removed.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

The Ten Bells Rings in New Bushwick Bar

The Ten Bells is ringing in a new outpost – this time, not on the Lower East Side, but in Brooklyn. Bushwick, specifically. The natural wine bar has taken over a space that previously housed a Breaking Bad-themed coffee shop, Walter’s Coffee Roastery. The OG at 247 Broome Street is still alive and kicking, though […]

Graffiti Sheathed Burger King on Delancey Street Burns Out

Call it a BK bust. The Burger King on Delancey Street is no longer open. Enveloped in graffiti and plywood boards for the majority of the pandemic (owing thanks to a car that landed inside the restaurant) the fast food joint had nevertheless persisted. Rather than scrub the storefront, the franchisee took a page from […]

City Turbo Charges Essex Street Municipal Garage with Electric Car Stations

The municipal parking garage on Essex Street is charged up for a new future. That of electric vehicles. Last week, the Department of Transportation unveiled four new fast-charging stations in the carpark. The addition on the Lower East Side is the first in a rollout across the city for the technology, which provides an 80-percent […]

Bay Area Export ‘Beloved Cafe’ Aims to Serve by Month End on Allen Street

The Lower East Side will soon be flowing with golden milk. Beloved Cafe – a San Francisco-based vegan eatery and juice bar – is headed to 196 Allen Street. As previously reported, the new location is the first expansion for the company beyond its Bay Area environs. Ownership promises that the new cafe is to […]

Economy Candy Rebounds with New Store Layout

Economy Candy officially returned from the pandemic sidelines with a block party and fresh store layout. The celebration involved the Big Gay Ice Cream truck outside 108 Rivington Street, and Gotham chocolates parked inside doling free samples. In the remodel, the store did not lose any of its old-school-warehouse-meets-Willy-Wonka charm. And it’s now substantially easier […]