Changes coming to two iconic LES tenements

TRD NEW YORK /
Aug.August 08, 2012 03:30 PM

Two iconic Lower East Side business structures sold in recent months, and details on their new life are beginning to emerge. At 45 Canal Street, between Ludlow and Orchard streets, the 102-year-old E&G Model Shop is being converted into a single-family home with a commercial space on the ground floor, Bowery Boogie reported.

The new owners bought the building, once home to the Maccarone gallery, for $2.35 million in March 2011 and plan to use available air rights to add a 508-square-foot living space to the rooftop. The building will grow about 12 feet taller to a total of 49 feet.

Meanwhile, the former M. Schames & Sons paint store building, at 3 Essex Street between Canal and Hester streets, sold along with the empty lot at 5 Essex Street earlier this year for $6 million. The Schames family was forced to relocate to Delancey Street because its building, parts of which date back to the early 1800s, was inhabitable thanks to shoddy demolition work at 5 Essex Street.

Lo-Down NY reported that the new owners, listed as an LLC, are taking their time deciding what to develop on the site. In the meantime they may set up a temporary garden or art installation in the empty lot. [Bowery Boogie] and [Lo-Down NY]


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Commercial loans expected to suffer because of the pandemic (Credit: iStock)

March saw fewer CMBS delinquencies. That is likely to change: Fitch

The Javits Center and 461 West 34th Street, with Marx Development Group’s David Marx (Credit: Javits Centerby Pablo Monsalve / VIEWpress via Getty Images; Google Maps)

As hotels across NYC shutter, David Marx’s fills rooms

Marc J. Goodman (Credit: Corcoran)

NYC-based Corcoran broker dies of coronavirus

TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

The rise of the anonymous LLC

The rise of the anonymous LLC

arrow_forward_ios
Loading...