Last Low-Rise Retail Strip on Delancey Sells for $15M

Posted on: July 17th, 2019 at 5:02 am by

August 2018

For more than four years, the single-story retail strip at the foot of the Williamsburg Bridge on Delancey Street has been on the market. Perennially pitched as a prime development opportunity.

And now it’s finally changing hands.

Public records show that the property is currently under contract, with a memorandum describing the terms. Ashkenazy Investments, which acquired the assemblage for $6 million in 2013, sold to Faramarz Hedvat of Delancy Towers LLC/93rd Partners LLC/73rd Partners LLC. The memo lists a total price tag of $15 million, with a close date of November 1.

For that kind of coin, there is no way this spot stays low-rise in the long term. A hulking tower on the enormous parcel seems like the end game here; just look what’s happening across the street at Essex Crossing.

Meanwhile, the retail maneuvering itself continues unencumbered. Inokim electric scooters opened a few weeks ago, and the Taco Mix eatery is on the way. As we’ve noted – rearranging the deck chairs on the Titanic.

Recent Stories

Under Presure from Chinatown, Mayor Pledges $80M to Restore 70 Mulberry Street

The fire-scorched school building at 70 Mulberry Street will see life anew, thanks to massive city funding. Mayor de Blasio announced yesterday in his morning press briefing that the new budget contains a line item for $80 million dedicated to restoration of the historic building. Hizzoner spent a solid four minutes discussing how Chinatown was […]

Fearing COVID-19 Resurgence, De Blasio Halts Indoor Dining Indefinitely

Not so fast. Phase 3 of the reopening plan is slated to launch on Monday. However, it arrives without the resumption of indoor dining at bars and restaurants, as initially conceived. Mayor de Blasio announced the news at his morning presser yesterday, citing the nationwide surges of COVID-19 cases and the elevated dangers of indoor […]

When Rivington House Wouldn’t Clean its Garbage Mess, a Neighbor Stepped In

A Good Samaritan took responsibility where a multimillion-dollar hospital system would not. As previously reported, the outside of Rivington House – future home of Mount Sinai’s future Behavioral Health facility – essentially devolved into decrepitude with the accumulation of trash at the doorstep. Untouched for days on end. But one Lower East Sider took matters […]

Chillhouse Shutters Original Essex Street Spa

The list of coronavirus-related business closures is getting longer by the week. Today brings word that an Essex Street newcomer has bitten the dust. Chillhouse, a millennials-style spa at 149 Essex Street, is the latest to fall. Ownership announced the permanent shutter in an e-mail to customers Tuesday afternoon. “As we all know too well […]

Hamilton Fish Park Pool to Reopen by August 1

In an about-face, the city announced yesterday that at least fifteen public pools will reopen across the Five Boroughs. Included in the lucky list is the Hamilton Fish Park pool, known to locals as the “Pitt Pool.” But the cooldown will have to wait another month. The reopenings are scheduled for August 1, and are […]