FusionArts Building on Stanton Street Listed for $10M

Posted on: December 9th, 2020 at 5:17 am by

With photogenic ironworks and facade art, it’s easily one of the more unique buildings on the Lower East Side. Now, the groundbreaking former home of FusionArts is pitched on the open market, albeit as a joint-venture.

Czech-born Shalom Neuman, who allegedly coined the descriptor “fusion arts” and who founded the FusionArts Museum at 57 Stanton Street, put the L-shaped property up for sale. Thus concluding his tenure as owner, which dates back to 1984. Asking price is $10 million.

Evergreen Realty & Investments is pitching the property as a “redevelopment opportunity” via Craigslist. The sale would include the conjoined buildings of 57 Stanton and 217 Eldridge.

At 57 Stanton Street, there is an easy path to vacancy and air rights allow for the opportunity to build an additional two floors, providing maximum return on the investment. Further, a steady income stream from a long-term retail tenant at 217 Eldridge Street provides security to the investment while the Stanton Street property is being redeveloped. With an influx of tenants and business to the Lower East Side from the development of the Essex Street Crossing, this is a rare opportunity to purchase a redevelopment deal with significant upside before prices in the area skyrocket.

For the last couple years, the store at 57 Stanton had hosted the Flamingos Vintage Pound shop.

Recent Stories

More Details on Vicious Chinatown Beatdown at Canal and Allen Streets

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 Expands to Boston

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 […]

No Idols NYC Opens Tattoo Parlor in Jimmy Webb’s Old Orchard Street Store

Threads to ink is the storyline at 75 Orchard Street. The former home of I Need More – the punk rock boutique founded by the late Jimmy Webb – is now a tattoo parlor. No Idols NYC just relocated to 75 Orchard after spending four years on the Bowery, the storied birthplace of the art […]

Body Cam Shows Cops Shoot Transgender Woman After Attacking Husband with Knife at LES Extell Tower

Body camera footage released by the NYPD last Thursday shows the moment officers shot to death a transgender woman armed with a knife during a bloody domestic feud at Extell’s affordable tower. The incident actually transpired two years ago, but the visuals only now came to light. In February 2019, the 7th Precinct responded to […]

‘Crab Du Jour’ Chain Claws onto the Lower East Side

Crab Du Jour is headed to the southern perimeter of Essex Crossing. The fast food joint, which slings Cajun-style seafood, planted a flag at 384 Grand Street last week. Literally. Signage announces the newcomer. It takes the spot left vacant by La Flaca last summer after its ten-year tenure on the block. Crab Du Jour […]