Bowery Mission Puts Avenue D Men’s Shelter on the Market
The Bowery Mission is looking to sell its Alphabet City men’s shelter in a bid to help sustain services through the coronavirus pandemic.
According to a report in Real Estate Weekly, the historic organization tapped JLL Capital Markets to help sell 45-51 Avenue D. The two-building property currently offers transitional housing for formerly homeless men who graduate from a residential recovery program.
“The Bowery Mission had planned to renovate the facility to add additional beds and modernize the site to fit its evolving programs,” said JLL’s Jonathan Hageman in a statement. “The Bowery Mission realized the privately raised funds it would need to renovate the Avenue D property would be better utilized to enhance its proven services for men, women and children experiencing homelessness and poverty across The Bowery Mission’s eight other locations in New York, New Jersey and Pennsylvania.”
The shelter is pitched as a redevelopment opportunity that will be delivered vacant upon sale. Buyer can combine into one residential property or demolish and begin anew (allows for 53,338 square-feet with inclusionary housing).
Since the lockdown began, the Bowery Mission has been sheltering 194 area homeless and providing long-term housing for 125 others. The virus also kept closed its chapel at 227 Bowery, as reported, and it replaced its hot meal service with to-go meals at the door.