2 Years Behind Schedule, the New 529 Broadway Shows Itself

Posted on: May 4th, 2016 at 5:19 am by
This image has been archived or removed.

The newest building in the landmarked Cast Iron District is now showing off. Check out the goods on 529 Broadway. After more than three years of astronomical spending, planning, city approvals, and construction, the first glimpse of the forthcoming final product is now visible.

It’s a six-story retail building in the heart of the SoHo open-air shopping mall.

Nike is still the rumored frontrunner as anchor occupant in this high-profile corner space. In fact, that’s been the prevailing narrative since at least 2013, but bupkis in the way of confirmation since.

Lots of backstory with this property, though. Sale of 529 Broadway in 2013 capped seven years of wooing from major developers with skin in the game. Vornado Realty Trust, SL Green Realty, and Invesco all vied for the property, with bids having reached a purported value of $110 million. But former owner Abe Goldstein – whose father purchased the building in 1980 for $1 million – held out until the price was right. Namely, $147.9 million to a partnership of Jeff Sutton, Joe Sitt, Bobby Cayre and the Adjmi family. The initial plan was to have the replacement building ready for occupancy sometime in 2014. However, hurdles such as approval from the Landmarks Preservation Commission slowed the approach, so to speak.

Designed by BKSK Architects, the reimagined 529 Broadway is loosely based on its ancestor, the Prescott House hotel, constructed in 1853 and demolished during the Great Depression.

Recent Stories

Rehab Begins for Fire-Ravaged School Building in Chinatown

In the wake of the devastating fire at the old Public School 23 building in Chinatown, the cleanup and rehab is full throttle. City contractors starting assembling scaffolding at the scorched 70 Mulberry Street earlier this week. The web of bars is making its way up the whole structure ahead of imminent debris removal. Meanwhile, […]

‘Bel Fries’ Nears Opening on Ludlow Street

The plywood is deposed, revealing the second fast-fry joint for Hell Square. Indeed, it took eighteen months, and several different murals on its shed, but Bel Fries is pretty much ready to go at 132 Ludlow Street. When we first broke word of its arrival in September 2018, we had been told it was called […]

Embattled WeWork Expands into New SoHo Development with 5-Story Workspace

WeWork just opened its latest downtown co-working location, with an enormous stake in a new SoHo development. Nameplate is up. The embattled company took a chunk of 140 Crosby Street (aka 606 Broadway), which came on line last year. The footprint is massive, with office space sprawled across five floors of the modern building. For […]

Pornhub Pop-up Heads to Allen Street for Valentine’s Day

This Valentine’s Day, Pornhub is pulling out the stops with a Lower East Side store. Beginning today, the porn website is hosting a two-day pop-up on Allen Street. Located at the corner of Broome Street – and steps from the Janina synagogue – the stunt is meant to woo horny locals to become premium customers. […]

Face Mask Price Gouging and Long Lines at Chinatown Post Offices Amidst Coronavirus Fears

With elevated fears over Coronavirus gripping the world, many like myself, with family in China and Hong Kong, are worried about the shortage of surgical or N95 face masks overseas. While the masks themselves might not be sufficient protection against the virus, it does provide some measure of comfort. But as I discovered, buying these […]