Real Estate

‘Jones LES’ Luxury Rental Development Sells for $61M

Posted May 25, 2017 at 5:13 am

Exactly one year after it hit the market, the luxury rental complex at 331 East Houston, dubbed “Jones LES,” is under new ownership. The development changed hands for an unbelievable $61 million. Gili Haberberg, an investor who runs Arkar Inc., will shell out $61 million for the 67,600-square-foot elevator building situated between Attorney and Ridge streets. According to […]

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AG Introduces Bill that Would Hold Slumlords Criminally Accountable for Tenant Harassment

Posted May 25, 2017 at 5:11 am

There is finally a bit of momentum in combating slumlords who have made an apparent cottage industry out of tenant harassment. Offenders such as Steve Croman, Dean Galasso, and Samy Mahfar are finally being held accountable, even if the punishments don’t necessarily fit the bill. Yesterday, state attorney general Eric Schneiderman introduced a new bill that […]

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The Pier 35 Screenwall Installation this Week is the Most Activity Here in 3 Years

Posted May 25, 2017 at 5:00 am

It’s actually happening. Clean the crust from you eyes. Work has finally resumed at Pier 35 on the Lower East Side waterfront. Steel elements for the problematic screenwall – the shield for the neighboring pier and cause for much of the delay – began arriving this week, about three months later than promised. Crews were […]

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Future Condo Residents of 265 East Houston are ‘Enviously Placed to Enjoy it All’

Posted May 23, 2017 at 5:17 am

The ten-story condo development at 265 East Houston has been complete for months. In fact, there really hasn’t been much movement here since the teaser banner was unfurled back in October. All that changes now. The “floor through” apartments are now on the market. As previoiusly reported, there are six full-floor apartments and a duplex […]

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Vacant Essex Street Lot Reborn as ‘Temporary’ Garden Space

Posted May 23, 2017 at 5:00 am

In a rather uncharacteristic turn of events, the property owner of 5 Essex Street is converting the long-dormant lot into green space. Over the last several days, workers were spotted marking off a rectangular parcel of land and adding a bed of gravel. A new plywood fence was also installed. Site intel reveals that a […]

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Soil Sampling Begins for Controversial 1,000-Foot JDS Tower on Cherry Street

Posted May 22, 2017 at 5:00 am

With the environmental review process of the Lower East Side waterfront still ongoing, the sight of this familiar construction vehicle outside 80 Rutgers Slip is not reassuring. After all, these Davey Drills are oftentimes the first outwardly visible indication that new development is moving forward. As previously reported, this is the site (247 Cherry) where […]

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Rumor: Sunshine Cinema Sale a Done Deal

Posted May 18, 2017 at 10:17 am

We reported back in March that a buyer had a purported $31.5 million contract out on the 1898-era Sunshine Cinema. Now two months later, the rumor mill is again in overdrive mode. Word on the street is that the transaction reportedly closed yesterday. The Lower East Side blog further notes that the property may have been flipped a […]

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Hecho en Dumbo is Endangered as its Bowery Condo Space Hits Market for $6.25M

Posted May 18, 2017 at 5:08 am

It would appear that the proverbial rug is being pulled from under Hecho en Dumbo on the Bowery. The condo unit it leases, located at 354 Bowery, just hit the open market for $6.25 million. Cushman & Wakefield is the exclusive broker, and listed the property this week. According to the broker-babble, the “fully vented […]

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LES Landlord Hit with $1.2M Lawsuit over Hell Square Airbnb Scheme

Posted May 16, 2017 at 5:08 am

It’s being called the biggest crackdown on a landlord illegally using Airbnb, and it happened on the Lower East Side. Naturally. City prosecutors filed a $1.2 million lawsuit against building owner Rose King in Manhattan Supreme Court for running a small network of transient hotels in three of her properties. Rooms were described as “comfy […]

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Rendering of Ace Hotel Surfaces at 225 Bowery with Promise of 2018 Completion

Last modified May 12, 2017 at 1:51 pm

You’re looking at the sight outside 225 Bowery, where Ace Hotel is gradually converting the 107-year-old relic into its newest lodge. Purportedly. This rendering appears on the Department of Buildings info board presently attached to the 225 Bowery plywood, and arrives courtesy of the HAKS architecture firm on the project. Upon completion – the aforementioned DOB signage promises a […]

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