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New York

$7.6M sale of Bowery hotel site complete

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Paris-based Louzon Group has officially completed its purchase of the old Salvation Army Residence at 347-349 Bowery for $7.6 million, Eastern Consolidated announced. The Louzon Group will now go ahead with its plans to replace the vacant three-story building with a 72-room boutique hotel and restaurant, designed by architect Gene Kaufman, who just unveiled a rendering of the building. In 2009, the building was targeted for conversion into a high-end sushi restaurant and nightclub, but those plans got derailed over community complaints. [Curbed]

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BoweryEastern ConsolidatedGene Kaufman