Icon Realty Snaps up Hester Street Building for $6.4M
Posted on: April 28th, 2020 at 5:06 am by Staff
Real estate transactions don’t cease just because of a deadly virus and pandemic.
Real estate magnate, Icon Realty Management, just scooped up another Lower East Side property.
The twenty-unit multifamily walk-up at 61 Hester Street, formerly home to the Sweet Life candy shop on the ground floor, traded hands last week for $6.4 million. Margray Realty, which acquired the building in 1994, is listed as seller of record.
Icon Realty Management is notorious around the East Village and Lower East Side for its alleged “construction as harassment” techniques. Tenants often accuse the firm of aggressive attempts to clear out the rent stabilized properties in favor of luxury rents. It’s had an effect on commercial, too. Neighborhood stalwarts such as the Stage Restaurant and Allied Hardware on Second Avenue were some of Icon’s more high-profile victims.
Back in 2017, ICON was forced to settle with the city over its tactics: a $300,000 fine to the State of New York, and an additional $200,000 to HPD and DOB.
More info came to light this week on the savage beating of an ex-convict at Allen and Canal Streets. According to published reports, the victim, Walter Ward, exited a Chinatown bus at 11:30am Friday morning when a mob of a dozen people mauled him. The group was apparently summoned – via text message – by […]
Rockwood Music Hall sure likes to hit milestones in the month of January. After celebrating fifteen years on the Lower East Side a year ago, the music venue is announcing another expansion. This time, to Boston. The club is seeking a liquor license to operate at 88 Van Ness Street, in the Fenway section of […]
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To stand in the intersection of Broome and Suffolk Streets is a lesson in claustrophobia. A canyon of ten-foot plywood dwarfing those who pass. All thanks to dueling developments – ongoing Essex Crossing, plus a newcomer across the way. That’s right, the gargantuan development replacing the burned-down Beth Hamedrash Hagadol – dubbed GoBroome – is […]
Police say a man was assaulted, slashed, and robbed by a group of people in broad daylight at Allen Canal Streets Friday morning. According to the police report, at 11:30am, a pack of twelve individuals – both male and female – jumped the 26-year-old victim in the center median (aka Allen Street Mall). Surveillance footage […]
As the nation’s coronavirus death toll exceeds 400,000, news of mass vaccination sites opening across New York city is certainly welcome. However, securing an appointment is proving a daunting task. The mayor previously stressed equity in treatment for vaccination, which is rolled out in phases. Yet, with the mandate that all appointments require online registration, […]
The State Liquor Authority wielded its hammer last weekend, summarily suspending the liquor license of Dudley’s on Orchard Street. At issue was the sprawling street eatery constructed by the business, which wraps the corner of Broome Street. Inspectors paid a visit on January 15, and witnessed forty-five patrons “dining within inside enclosures located on the […]
In this installment of Clayton’s Corner, photographer Clayton Patterson shares news that the Overthrow boxing gym on Bleecker Street is back in action. Then, crosstown on Essex Street, two cops stopped for a quick slice. However, flouting traffic by driving the wrong way to park in front of Champion Pizza. This move seemed to irk […]