3 Years Later, New Luxury Apartments in 145 Ludlow Street Ready to Rent

Posted on: September 1st, 2016 at 5:12 am by
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The Timeshare Backyard and its vacant lot (once the Collective:Unconscious Gallery) are but a distant memory. This brick beast at 145 Ludlow Street is the proverbial reality check.

Here we are. Three years later, the six-story luxury development is finally alive, the last of its plywood perimeter deposed. The eight upper-crust rentals in its belly – split between two-bedroom units and full floor lofts (plus penthouse duplex) – just hit the market this week. A fancy new website is also live, reminding everyone that the new 145 Ludlow is located on the “most vibrant block of the Lower East Side.” And guess who’s brokering these units. None other than Samy Mahfar’s brokerage, Real NY, which operates a retail office next door.

As previously reported, 145 Ludlow received its new lease on life in June 2013 when the architecture firm of David Howell purchased the mid-block property for $5.7 million. Its role as vacancy (and Timeshare Backyard) expired when construction began three years ago. The road hasn’t been easy, either. There were plenty of obstacles along the way, such as a bevy of stop-work orders for various site infractions.

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Any prospective tenant doing due diligence here would be smart to note the terrible over-saturation here. Of liquor licenses, traffic, noise, and pretty much everything else.

God speed.

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