The Real Deal New York

Bowery building trades for $11M

September 03, 2008 05:59PM
By Adam Pincus

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A three-story commercial building with a 50-foot frontage on the west side of the Bowery in Nolita was bought by the Boho Corporation for $11.775 million, or $392.50 per buildable foot, a broker on the deal said.

The sale of the 10,750-square-foot building at 180-182 Bowery, near Delancey Street, closed on August 26, according to property records published today.

The building’s seller, the 114 Bowery Corporation, is led by Sheldon Lewis, owner of Empire Restaurant Supply. A source said the company, which is located in the building, is closing and “moving sale” signs are visible in the windows.

The building in the restaurant supply district was linked to the death of a Brooklyn woman, who was killed by falling masonry from the structure in 1998.

Lewis was not available for comment, a person with the company said. An official with Boho, a company based in Lower East Side, was not available for comment.

Massey Knakal broker Robert Burton, the sole broker in the deal, represented the seller in the transaction, the brokerage said.

The restaurant supply company Daroma Restaurant Equipment, which is affiliated with Boho, was expected to move to the 180-182 Bowery location, a source said.

Boho recently sold a six-story, 50-foot wide loft-style building at 231 Bowery for $18.6 million to an unidentified nonprofit, GlobeStreet.com reported last week. A source identified the buyer as the New Museum for Contemporary Art.

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