15 Orchard Street Sold for $5.25M [Updated]
Last month, wholesale apparel shop T-Shirt Express was forced up the block to 29 Orchard Street. We learned at the time that the move was a function of the building being sold just weeks prior. Now comfortable in its new digs – way larger and less cluttered than the former – let’s take inventory of the old store.
Public records indicate that Tribeca resident Casandra Lilien (28 Hubert Street) scooped up the four-story building at the end of December for $5.25 million. The final price was more than a million dollars higher than the initial tag when it hit the market two years ago. A month after the transaction, T-Shirt Express was gone, and Lilien donated the space as temporary showroom for the Parsons MFA program.
Update: “[T-Shirt Express] came to us and asked to get out of their lease early without penalty and we agreed,” Lilien says. “It couldn’t have gone smoother.
Another entrant to the much-ballyhooed Orchard Street gallery district, and with it, an even further diminished return.