Properties Adjacent to Bowery Savings Bank Hit the Market

Posted on: March 13th, 2019 at 5:09 am by

Not only is the Bowery Savings Bank landmark for sale, so are its adjacent neighbors on either side.

Both 132 Bowery and 116 Elizabeth Street, which flank the historic building, were dropped on the open market last month. Avison Young is the brokerage of record. No price is floated.

The latter property is an office building touted as a chance to “lease up” the units; 132 Bowery, on the other hand, is described as a “perfect development opportunity” that could yield a 14,610 square-foot construction.

Don’t be surprised if one buyer scoops up all three properties. That would mean an entire block of the Bowery in one fell swoop. The bank building is up for auction, and is estimated to fetch north of $50 million, as previously reported.

The current owner, Gordon Lau of Lau Management, purchased the buildings in 2015 for a combined $25 million.

Recent Stories

‘Forsythia’ Aims to Make it Where Kitty’s Canteen Couldn’t

With Kitty’s Canteen closed and in the history books, another nightlifer is looking to open a restaurant at 9 Stanton Street. One that revives Italian cuisine at this address. The newcomer is a 24-seat Italian restaurant called Forsythia. The liquor license application questionnaire lists Jacob David Siwak as the principal for the business. At the […]

Man Mugged at Knifepoint Outside Clinton Street Pawn Shop

A man was mugged at knifepoint outside a Clinton Street pawn shop last Tuesday, police said. The victim was reportedly attacked by six crooks, described as African American males, while trying to sell his Juul vape pen to his friend. It all happened outside the pawn shop at 101 Clinton Street. The suspects – one […]

The Lower East Side has the Largest Surplus of Unsold Luxury Condos, Thanks to One Manhattan Square

The city currently has a problem unloading the luxury condos flooding the market. The New York Times last week published a piece about the glut of unsold apartments in the luxury stratosphere. That, despite the bonkers pace of construction in the high-end market, supply is outstripping demand. The data, culled from a StreetEasy audit, found […]

Help Support Gem Spa on St. Mark’s Place Tomorrow

A perfect storm of misfortune has plagued the Gem Spa these last few months, causing a precipitous loss in business. From landlord issues to the temporary ban on cigarette sales and the loss of Zoltar, it’s hitting the bottom line. Fear of forever closure is palpable at 131 Second Avenue. The plight of the East […]

With Champ Depot Out, Bowery Corner Gains Another Gallery

For more than a decade, the Champ Depot restaurant supply company occupied 176 Bowery. Now, its former home is completely empty and fetching for a new deep-pocketed tenant. There is a torrent of listings on Craigslist fishing for suitors (“last corner retail in Nolita”), yet one was already found to occupy the second floor. It’s […]