The Bowery’s Former ‘Diamond Corner’ Will Become a Bank of America Branch, After All

Posted on: March 7th, 2016 at 5:00 am by
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​Down at 88 Bowery, homogeneity is welcomed with open arms. Gone are the jewelers and in comes the bank.

The Diamond Corner is officially kaput with the removal of its old-timey signage last week. Contractors have been busy at 88 Bowery for months, combining the adjacent stores into a larger space. You’ll recall that the collection of a half-dozen independent jewelers that populated this Chinatown enclave were forced from the premises over a year ago, with rumors suggesting at the time that a bank was on the way. The jettison was forged shortly after Joseph Betesh (pka Milestone Equities) purchased the property – which includes the Sun Bright Hotel SRO – back in 2013 for $14.8 million. This transaction was part of the larger $62 million portfolio of eleven buildings. (His family owns the Dr. Jay’s streetwear empire.)

Well. Betesh reportedly got his bank contract, as expected. Indeed, the unconfirmed worksite chatter these days is that Bank of America is opening a branch here. It’s located just a few paces north of another branch at Bayard Street. If you’re keeping tally, this money machine is also block from TD Bank, Capital One, Chase Bank, East West Bank, and others.

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Diamond Corner, October 2013

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