‘New Life’ Building on Clinton Street Sold for $8.7M, Luxury Development up Next
Not surprisingly, the nonprofit New Life of New York City did sell its building on Clinton Street for a princely sum before relocating to Alphabet City. And more luxury is on the way.
The three-story, 4,340-square-foot property and vacant lot at 66 Clinton were together scooped up by Vault Development and TLM Equities. Demolition is coming soon, too, so that the new ownership can proceed with its “planned development of a boutique residential property.”
“The sale of our property at 66 Clinton will not only give us the chance to continue to serve kids on the Lower East Side, but will also allow us the opportunity to expand that impact across New York,” Executive Director Efrain Figueroa said in a public statement. “Though New Life has impacted many during its 25 years at 66 Clinton, we know the building itself is not what draws the kids to New Life. Instead, it is the valued and trusting relationships created through our four pillars: Academics, Athletics, Arts and Spiritual Formation.”
With the adjacent 50 Clinton having already upscaled the whole block, this turn of events is rather fitting. And indicative of the new Lower East Side post-Essex Crossing.