Properties Adjacent to Bowery Savings Bank Hit the Market
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.