This Blight is Possible for the Corner of Attorney and Delancey Streets
The low-rise, northwest corner of Attorney and Delancey Streets is ready for the big time. Years of pop-ups and short-lived businesses finally culminates this year with its listing on the open market. Indeed, with Essex Crossing now operational and exerting upward real estate pressure, the two vacant buildings at 176-178 Delancey are the next dominoes to fall.
Avison Young is the brokerage of record, and envisions the following conceptual development to occupy the two Lower East Side parcels. Current zoning here (R8A) allows for nearly 51,000 buildable Square-feet, which could yield a 14-story residential complex.
No price is posted on the listing; offers are currently sought.
Meanwhile, there are no building permits or plans on file with the city.
Public records indicate that there are two different owners for each property. The one-story warehouse building at 178 Delancey was acquired by Hun Yip LLC in 2010 for $2.5 million; 176 Delancey is under the ownership of investor Eric Mann, who purchased the tenement for $4 million in 2015 (and, at one point, owned forty buildings around Brooklyn).