The Real Deal New York

Long-stalled “rat castle” at 179 Ludlow resumes work

Project to hold ground-floor retail, six stories of floor-through apartments

April 29, 2014 06:30PM

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179 Ludlow Street

179 Ludlow Street

Work has finally resumed at the long-stalled 179 Ludlow, which has sat half-finished since 2006.

Fresh work on the building’s balconies are the first hint that the site is moving forward, as Bowery Boogie reported. Department of Buildings permits posted on the site show that the property will ultimately have 1,650-square-feet of commercial space on the ground floor, along with six upper stories of floor-through apartments. Kleinmann Group is listed as the architect of record.

Developers 2 Funny Guys kicked off the 179 Ludlow project in 2006, but filed for bankruptcy three months later. First-time developer Michelangelo Russo took over for $5.2 million shortly thereafter, but quickly ran aground as well. By 2008 the property had acquired the nickname “Rat Castle” thanks to an infestation at the abandoned site. Foreclosure was proceedings launched in March 2010, and the property is currently owned by Michael Goldberg, owner of a firm specializing in troubled projects. [Bowery Boogie]Julie Strickland

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