The Real Deal New York

Posts Tagged ‘Bowery’

  • From left: Josh Caspi, 135 Bowery and RWN's Ari Shalam

    From left: Josh Caspi, 135 Bowery and RWN’s Ari Shalam

    Caspi Development and RWN Real Estate Partners bought an office building at 135 Bowery on the Lower East Side for $16.2 million, doubling down on a campaign to turn the formerly run-down street into a tech-office destination. [more]

  • 134-142 Bowery

    134-142 Bowery

    A group of investors paid a total of $45 million to assemble a handful of low-rise buildings on the Bowery currently housing lighting-supply stores, property records show. [more]

  • 168 Bowery

    168 Bowery

    Bowery locals are coming out to fight a proposed new newsstand on the corner of Prince Street – yet another sign of the neighborhood’s increasingly gentrified tastes. [more]

  • 77-bowery

    From left: 77 Bowery in Chinatown, Jonathan Zamir and David Schechtman

    UPDATED, 3:08 p.m., Oct. 6: Jonathan Zamir’s Keystone Equities has put the seven-floor office condominium component of the East West Bank building in Chinatown on the market, The Real Deal has learned. The property is expected to sell for as much as $30 million, according to sources close to the deal.  [more]

  • The Bowery

    The Bowery

    These days you won’t find any bums on Bowery. Fierce competition between investors and a lack of inventory have sent prices for new and redevelopment sites on the street soaring. [more]

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  • Rentals-in-demand

    The West Village may have been the most in-demand Manhattan neighborhood for would-be renters last week, but the searches for listings along the Bowery more than doubled from previous weeks, according to Zumper, an apartment listings website.

    Despite the Bowery’s surge in popularity, it did not crack the top five. The ones that did were the Upper East Side, East Village, the Upper West Side and Chelsea. When it comes to apartment size, one-bedrooms smoked the competition, with 42 percent of the leads and a median inquiry of $2,375 per month. Next, two-bedrooms had 33 percent and $2,800, followed by studios with 20 percent and $2,100 and three-bedrooms with 5 percent and $5,150, according to Zumper data.  [more]

  • Bowery snags first tech office space

    April 15, 2014 12:25PM
    From left: Joshua Caspi and 161 Bowery

    From left: Joshua Caspi and 161 Bowery

    UPDATED, 3:18p.m., May 22: Westchester-based developer Caspi Development, in partnership with Ultimate Realty, is in contract to purchase a seven-story office building at 161 Bowery. The firm intends to turn the property into the neighborhood’s first office space for modern technology tenants.

    Caspi will pay $12.75 million for the 15,984-square-foot building between Broome and Delancey streets. Joshua Caspi, a principal with the firm, told Real Estate Weekly that the property is slated to be renovated into full-floor office lofts and ground-floor retail.


  • Photos by Annie Ling from "A Floating Population"

    Photos by Annie Ling from “A Floating Population”

    Two exhibits exploring the connection between Chinatown and its residents are open through Sunday at The Museum of Chinese in America on 215 Centre Street. [more]

  • 347-bowery

    347 Bowery and rendering (Inset: Glauco Lolli-Ghetti of Urban Muse)

    Manhattan-based developer Urban Muse is planning a 13-story mixed-use residential project at 347 Bowery in East Village, the latest development in the works along the busy, rapidly changing street. [more]

  • 52-60 Clinton Street

    52-60 Clinton Street (Credit: Bowery Boogie)

    Several retail stores on a stretch of the Lower East Side’s Clinton Street are being shuttered to make way for residential development. The latest store located on the one-story row of retail at 52-60 Clinton Street is Community 54, a streetwear brand that opened at the location in 2011 and has played host to hip-hop stars such as Soulja Boy and A$AP Rocky. [more]

  • 144-bowery

    144 Bowery

    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. [more]

  • 169-bowery

    169 Bowery and the former Collective Hardware store

    Amid ongoing legal troubles, landlord Gordon Lau is moving forward with plans to convert and enlarge a five-story tenement building at 169 Bowery, between Delancey and Broome streets, in the Lower East Side.

    The city Department of Buildings issued permits on Tuesday for the project, which would add 6,000 square feet for roughly $500,000. A “horizontal and vertical extension” would create two more floors to allow for 10 units. The apartment space would be expanded to nearly 15,000 square feet; there will also be 2,585 square feet in commercial space at the site. [more]

  • Whitehouse Hotel at 340 Bowery

    Whitehouse Hotel at 340 Bowery

    The owners of a prominent budget hotel on the Bowery are suing one of their longtime tenants for being too trigger happy when it comes to suing them.

    The Whitehouse Hotel’s owners said in their suit that they have spent over $200,000 defending themselves in court cases brought by Roland Davis, who sues “purely out of spite, ill will and in bad faith.” The hotel at 340 Bowery– which rents out tiny rooms for $30 a night — is seeking a court order that requires Davis to get approval before filing further suits on his own. [more]

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  • 347 Bowery, Glauco Lolli-Ghetti (inset)

    347 Bowery, Glauco Lolli-Ghetti (inset)

    The Paris-based Louzon Hotel Group, which bought the Salvation Army shelter building at 347 Bowery two years ago for $7.6 million, has sold the property for $19 million, the LoDown blog reported.

    Louzon at one time planned a Gene Kaufman-designed boutique hotel in the spot. The new owner, Glauco Lolli-Ghetti, principal at privately held real estate firm Urban Muse, inked the deal on June 21, including a mortgage of $16.3 million. [more]

  • Bowery Street

    Neighborhood groups in the Bowery are pushing city officials to impose height restrictions on new developments on the street’s east side, and their campaign is increasingly gathering steam, the New York Observer reported.

    In order to preserve the character and visual makeup of the area, the groups aim to cap building height to 85 feet on the eastern side of the street, akin to the restrictions that are already in place on the western side. “To do justice to the Bowery, you really need to do justice to both sides of the street,” Kerri Culhane, an architectural historian and the associate director of Two Bridges Neighborhood Council, told the Observer. “I think the planning commission at this point has not considered the Bowery as a whole.” [more]

  • The interior of an Intermix store

    In what some would call a final blow to the Bowery, trendy fashion retailer Intermix will move to the street, Bowery Boogie reported.

    The designer clothing purveyor will join other recent higher-end additions to neighborhood, such as Anthropologie and Patagonia, that have furthered the gentrification of the once-gritty strip, Bowery Boogie points out. [more]

  • The Bowery has been included in the State Register of Historic Places, DNAinfo reported, giving support to neighborhood groups who seek the street’s inclusion in the National Register of Historic Places.

    But unlike historic districts in the city, the designation carries no weight in protecting buildings from alteration.

    “The Bowery nomination is unique — it not only recognizes the architecture and cultural history of the street, but it acknowledges the earliest planning history of New York,” historian Kerri Culhane, who wrote the Bowery’s 171-page nomination, said in a statement.

    “By extension, the Bowery nomination should be used as a planning tool to help guide better planning, zoning… on this vibrant and dynamic thoroughfare, which continues to make history today.” … [more]

  • Glass replaces light on the Bowery

    August 09, 2011 11:21AM

    Once known as the “lighting district,” the stretch of Bowery south of Houston Street is losing the shops that contibruted to that nickname. The Wall Street Journal reported that since 2000 the area has dropped one-third of its light fixture businesses — bringing the total to 20, and two more are set to close — while rents have more than doubled from between $30 to $50 per square foot to about $100 in 2011.

    Like similar “districts” on the Lower East Side, including the restaurant supply businesses that lined the sidewalks between East Houston and Delancey streets, glassy new development has pushed out iconic shopping areas. And at the market’s peak many developers simply made offers to acquire real estate that lighting store owners couldn’t refuse. … [more]

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  • The new Wyndham Garden Hotel

    The 18-story Wyndham Garden Hotel is approaching completion at the intersection of the Bowery and Hester Street in Chinatown. Though the structure is already topped out and much of the glazing is in place, the renderings give a clearer idea of how it would ideally look, and that is none too promising.

    The base of the building, at 91-93 Bowery Street, glazed and framed with masonry, occupies its lot completely. But then the structure rises up as a series of modest setbacks away from the Bowery and culminate in a fairly unimaginative summit defined by two balconies on different levels, as well as a sequence of columns, all cast in a stridently modernist idiom. This summit in turn is capped by a masonry-clad mechanical core.

  • Despite meeting with preservation advocates April 12 to hear concerns about redevelopment, Arun Bhatia, the new owner of 35 Cooper Square, a centuries-old property near the corner of East 6th Street, has decided not to preserve the structure, according to DNAinfo.

    Bhatia bought the three-story 1825 village rowhouse late last year for $8.5 million and submitted an application for demolition in March, angering neighbors and inspiring a campaign against the destruction led by the Bowery Alliance of Neighbors. … [more]