Historic Clinton Street Synagogue Lists Alley Lot for $5.25M

Posted on: April 3rd, 2017 at 5:00 am by

chasam-sofer-clinton-1_wm

Congregation Chasam Sofer is getting into the real estate speculation game on the Lower East Side. The Clinton Street synagogue just listed its adjacent lot for a hefty sum.

This 2,000 square-foot gated walkway on its southern flank, which doubles as a landscaped garden complete with fountain, is now on the market for $5.25 million. The site offers 8,000 square-feet of buildable floor area, and can be “delivered vacant allowing for imminent development potential.” The synagogue’s air rights are also negotiable, so expect the worst.

The lot at 14 Clinton Street was previously city-owned land that eventually transferred to Chasam Sofer in July 1999, according to public records.

Cushman & Wakefield is apparently the exclusive broker for the property. Below are the nuts and bolts.

14 Clinton Street [is] an ~8,000 BSF development site located on the Lower East Side, one of the most desirable neighborhoods in Manhattan. The property is an unimproved ~2,000 SF lot ideally located on Clinton Street between Stanton and East Houston Streets, an area experiencing a surge in demand for residential housing and retail space.

Additional Transfer Development Rights are available from the adjacent property at 10 Clinton Street allowing for a potentially larger development site pending zoning code. The property will be delivered vacant allowing for imminent development potential to capitalize on these market trends.

14 Clinton Street greatly benefits from its superior location on the Lower East Side, known for its abundant selection of established and new eateries, galleries, clubs, retailers, and nightlife options. The immediate neighborhood is home to a diverse population of residents due its proximity to other popular areas including the East Village, Little Italy and Chinatown, as well as new projects including Essex Crossing, a mega project comprised of ~1.9 million square feet of residential, commercial, and community space.

With record levels of equity pouring into real estate in the immediate neighborhood, this is a unique development opportunity to capitalize on a neighborhood undergoing a major transformation for resident and tourists alike.

Allowing development so close to Chasam Sofer will certainly tarnish its charm. Part of what makes this landmark so breathtaking is the freestanding nature of the building that isn’t crowded out by other architecture.

chasam-sofer-clinton-2_wm

Congregation Chasam Sofer at 10 Clinton Street has been on the block since 1892, its membership having merged from two congregations of Polish immigrants. Yet the building itself dates back thirty years before that. In fact, it’s the the second-oldest synagogue building in the city, and the oldest still in use in the state.

Yet, the State Liquor Authority doesn’t deem it an “active” house of worship, and is therefore not subject to the “100-foot Rule” for new license applicants. The matter has surfaced several times at the Community Board level in recent years.

Recent Stories

That Garbage Fire Burning on Orchard Street [VIDEO]

Nothing to see here. Just a casual daytime garbage fire burning on a hot summer afternoon outside the Irving Farm coffee shop on Orchard Street. Boogie reader Alaric DeArment snapped a short video clip of the blaze, which shows the nonchalant attitude of those passing the vicinity. (Perhaps this is a statement on goods made in the […]

The Faux Rag & Bone Video Store Ad Mural

With hipsters and millennials fiending for analog media like vinyl and cassette tapes, it wouldn’t be all that surprising if VHS movies were to stage a comeback as well. But no, there’s not actually a “video store coming soon” here. It’s Matt Starr’s contribution to the Rag & Bone mural wall on Elizabeth and Houston […]

‘Inokim’ Rolls into LES with Delancey Street Scooter Store

The recently upscaled retail strip at the base of the Williamsburg Bridge just welcomed its newest tenant. Electric scooter company Inokim planted two wheels in the space formerly occupied by Cricket Wireless. Under the moniker of “urban freedom,” the store at 164 Delancey Street is essentially a showroom pimping the various scooter models. It’s the […]

‘Sour Mouse’ Bar and Game Room Coming to Delancey Street

At the bottom of this Rainbow, not a pot of gold but a new rec room. Beneath the Delancey Street discount retailer, Rainbow, the proprietor of Black Cat LES is angling to open a hangout with plenty of bar sports. Keeping with the animal theme, Aaron Ho and Edward Wong will impart Sour Mouse, a […]

Trashed Pizza Plates Repurposed for Supersize Scrabble Game on Orchard Street

From hardscrabble to scrabble, Orchard Street has now seen it all. Beginning tomorrow morning – when traffic is blocked for the pedestrian mall – Artist Adrian Wilson will chalk an enormous scrabble board on the asphalt between Pizza Beach and Hair of the Dog. The supersize replica is accurate down to the last Triple Word […]