Rumor: 50 Bowery Owner Alex Chu will Raze Jing Fong Restaurant for Hotel Extension

Posted on: February 2nd, 2016 at 5:00 am by
This image has been archived or removed.

​This would be a game-changer, if proven true.

Rumor has it that the Chinatown Arcade on the Bowery, south of Canal Street, is in the opening stages of re-development. The recent departures of Sunshine 27 and A-Wah we reported last week are but the beginning. Pawns in the proverbial chess game being played by neighborhood property owner Alex Chu.

Word on the street is that businesses in this commercial complex are now unable to secure long-term leases. Apparently, Chu (vis-a-vis corporate shell China Arcade LLC) is bent on offering only one- to two-year leases in anticipation of the future. Yes. That’s allegedly the timeframe we’re hearing before the mall is demolished and re-developed.

One need only look at the nearly-complete Joie de Vivre hotel monstrosity next door at 50 Bowery. Notice how the southerly exposure of the glass tower is smooth and without windows. That’s the truest signal of preparations for an adjacent skyscraper in kind. Sources allege that Chu will probably raze the Arcade and erect a hotel extension. But before any of that, the Joie de Vivre hotel needs to open and generate more capital.

Sources also maintain that Jing Fong probably isn’t going anywhere, and will likely move into the hotel as its anchor business.

China Arcade LLC, the shell company for Chu, has been the owner here since 2001.

Recent Stories

The New York Public Library System Begins Reopening with ‘Grab-and-Go’ Service

It’s a somewhat return to normalcy for library lovers. After a four month temporary closure, the New York City public libraries are figuring out how to operate during the coronavirus outbreak. Yesterday marked the reopening of 22 branches across the five boroughs. Eight of the locations will allow for limited, grab-and-go service; patrons will have […]

Bette Midler Tweets Opposition to$1.45B East River Park Resiliency Plan

Coronavirus be damned, it appears the city is still on course to begin destruction of the East River Park this fall. And Bette Midler is not happy. “The idea of destroying parkland during a pandemic, where people are desperate for open space is insane,” the superstar singer tweeted to her 1.7 million followers last night, […]

‘Sleep No More’ Producer Angling to Open Nightclub on Chrystie Street

A producer of Sleep No More hopes to open a new nightclub on the Lower East Side. The as-yet-unnamed venue is a partnership between Arthur Karpati and Christopher Brooks, with a proposed location of 191 Chrystie Street, which, for the last few years, hosted the et al club. Application materials on file with Community Board […]

Wo Hop Returns Today for Takeout Orders

A beloved Chinatown institution reopens this week, so hop to it. Two flyers taped outside of the Wo Hop basement location at 17 Mott Street state they’ll be open for takeout starting today, from 10:30am to 8:00pm. Their new website is up and running for online orders. If you don’t see your favorite on the […]

Popeyes Chicken Returns to Delancey Street After 6-Year Hiatus

It was more than six years ago that the long-running Popeyes franchise on Delancey Street went out of business. Now, a return is underway for the fast-food chicken restaurant. And directly across the street, at that. Evidence of its arrival, and opening, is mounting at 101 Delancey. Branded red awning is in place, and “Louisiana […]