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New York

Gordon Lau picks up LES buildings for $50M

Developer buys four new properties near his Bowery resi project

From left: 149 Bowery, 116 Elizabeth Street and 169 Bowery on the Lower East Side
From left: 149 Bowery, 116 Elizabeth Street and 169 Bowery on the Lower East Side

Gordon Lau of Lau Management purchased four Lower East Side buildings for $50 million, according to property records filed with the city today.

Carlherman Realty Corp. sold two of the buildings at 116 Elizabeth Street and 132 Bowery for $25 million. The five- and three-story commercial properties are adjacent at the rear end of the buildings, with one entrance facing Elizabeth Street and the other on Bowery.

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Fuss and Lieberman Realty Corp. are the sellers of 145 and 149 Bowery, two adjacent five-story buildings located between Broome and Grand Streets. The mixed-use buildings sold for another $25 million, records show.

In Dec. 2013, the Department of Buildings approved plans for Lau to convert and enlarge a five-story residential building at 169 Bowery, just one block from his newly acquire properties.

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Lower East Side