UPDATED, 3:31 p.m., Dec. 27: A three-story commercial building in Little Italy that houses New Generation Lighting hit the market for $10.2 million.
Ryan Winchester and Yagnesh Vangala of commercial brokerage Itzhaki Properties, who has the listing, is marketing the site at 144 Bowery at Broome Street for development. The building is vacant besides the ground-floor lighting retailer, though it can be delivered empty. The lot allows for about 16,000 square feet of buildable space.
“We sense that there is going to be an increase of transaction activity in the region,” Winchester told The Real Deal.
Along with fellow brokerage Flatiron Real Estate Advisors, Itzhaki filed a lawsuit in September against a company that owns the MetSchools site in Williamsburg and is developing a nine-story building there, as The Real Deal reported. [Bowery Boogie] — Mark Maurer