Real Estate

Rivington House Sells to Mystery Buyer for $160M

Posted September 19, 2019 at 5:00 am

The saga of Rivington House continues this week with news of its sale. Indeed, three years after Slate Property Group, China Vanke Co., and Adam America Real Estate together purchased the property, the ownership team is cashing out. Price paid for the real estate was $116 million; sale price is $159.6 million. For the moment, […]

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Report: Tenant Files Lawsuit Over Alleged Roach Infestation at 261 Broome Street

Posted September 18, 2019 at 5:08 am

A new tenant at 261 Broome Street filed a lawsuit against the landlord, claiming that an alleged roach infestation forced her to leave after only four days on-premise back in June. The complaint, filed this week in Manhattan Supreme Court by Julia Perry, alleges that the infestation was so severe that the critters even found […]

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Two Buildings at Rivington and Suffolk Hit the Market for $12M

Posted September 17, 2019 at 5:04 am

A pair of Lower East Side tenements in the orbit of Essex Crossing is now in the proverbial crosshairs. Both are on the market for a collective $12 million. The two properties are located around the corner from each other at Rivington and Suffolk Streets, and combine for 17,684 square-feet of floor area. The four-story […]

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The Lower East Side has the Largest Surplus of Unsold Luxury Condos, Thanks to One Manhattan Square

Posted September 16, 2019 at 5:00 am

The city currently has a problem unloading the luxury condos flooding the market. The New York Times last week published a piece about the glut of unsold apartments in the luxury stratosphere. That, despite the bonkers pace of construction in the high-end market, supply is outstripping demand. The data, culled from a StreetEasy audit, found […]

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Streets

Scaffolding Finally Deposed from the DL

Posted September 12, 2019 at 5:06 am

It’s trading one eyesore for another. The longstanding scaffolding attached to the facade of The DL on Delancey Street is finally gone. Workers deposed the iron appendages earlier this week. You’ll recall that in July 2016,  a chunk of exterior dislodged from 95 Delancey and tumbled to the sidewalk below. The structural collapse resulted in […]

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After 12 Years of Planning, a New Office Development at the Old Jones Diner Site

Posted September 11, 2019 at 5:04 am

It’s a NoHo development more than a dozen years in the making, and now nearly ready for occupancy. The irregularly shaped parcel at 363 Lafayette Street, which once housed the Jones Diner, and later, high-profile advertecture, is now a ten-story mixed-use office building. No longer just in blueprints, but in real life. Architect Morris Adjmi […]

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On Grand Street, Where Weeds Tower Instead of Modular Condos

Posted September 10, 2019 at 5:02 am

The only thing missing from this picture is a tumbleweed rolling down Grand Street. The one-story pastels at 330-332 Grand Street were downed in a hurry, only to sit dormant. Long enough for weeds to grow into small saplings that eventually crossed the plywood threshold. Controversial Lower East Side property owner Daniel Wise – whose […]

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Streets

The Pile of Rubble that was the LaGuardia Bathhouse

Posted September 10, 2019 at 5:00 am

It had been dormant since the 1970s. Now it’s a pile of rubble. The LaGuardia Bathhouse – built in 1909 – met its unceremonious end last week after months of demolition work. A backhoe currently sits atop the heap of century-old masonry, clearing the site for an empty field. As previously reported, the city quietly […]

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Bari Restaurant Equipment Lists Prince Street Building for Sale

Posted September 6, 2019 at 5:00 am

On the Bowery for decades, Bari Restaurant Equipment is now unloading some property. The business recently placed one of its corner buildings on the market. Following its purchase of 234 Bowery and 5 Prince Street in July 2016 for a combined $12.3 million, Bari relocated its manufacturing arm across the river to New Jersey. That […]

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Streets

Mayor Should Call ‘Collect’ for Borough-Based Jail Plan [OP-ED]

Posted September 5, 2019 at 5:09 am

As expected, the City Planning Commission this week rubber-stamped the controversial jail plan which would see the closure of Rikers Island in favor of four new borough-based jails. Next up is today’s City Council ULURP hearing, which will likely amount to just another mass validation session. Question is, besides the unofficial “common sense” caucus among councilmembers, […]

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Streets