Condos at former LES “rat castle” sell out in 2 months

Seven years after construction started, 179 Ludlow project finds buyers

TRD New York /
Jan.January 19, 2015 02:20 PM

A Lower East Side condominium building that was once nicknamed “the Rat Castle” in its slow-moving construction phase has sold out less than two months after sales finally launched, The Real Deal has learned.

The six floor-through units at 179 Ludlow Street, near East Houston Street, are all under contract and are slated to close by next month, according to Douglas Elliman’s Ariel Tirosh, who is handling sales at the nearly 13,000-square-foot building.

Elliman officially launched sales at the building, which is designed by Kleinmann Architects, in mid-November. The sixth and final unit entered contract last week, Tirosh said.

Michael Goldberg’s Enclave Properties took over the long-delayed project in 2010 – four years after construction began. The Village Voice dubbed the half-built structure a “rat castle” in 2008 due to a rat infestation at the abandoned construction site.

“It went from the ugly duckling to the fancy swan,” Tirosh said. “We priced it well and it moved wonderfully.”

The duplex penthouse unit, which features a rooftop garden, is set to sell for $2.4 million. The second-floor apartment also comes with a private garden.


Related Articles

arrow_forward_ios
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

Vishaan Chakrabarti on a Manhattan real estate market without private cars

Vishaan Chakrabarti on a Manhattan real estate market without private cars
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?
Social Construct CEO Ben Huh, The Real Deal's Hiten Samtani and Social Construct cofounder Michael Yarne

The REInterview: Social Construct’s founders on making multifamily construction an assembly line

The REInterview: Social Construct’s founders on making multifamily construction an assembly line
2870 Ocean Avenue in Sheepshead Bay (Google Maps)

Chetrit firm to acquire Sheepshead Bay development site

Chetrit firm to acquire Sheepshead Bay development site
Alexandria Real Estate Equities founder Joel Marcus and Alexandria Center for Life Sciences (Getty, Google Maps)

Life-sciences sector proves safe haven for landlords

Life-sciences sector proves safe haven for landlords
123 West 23rd Street and Adam Neumann (Google Maps; Getty Images)

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site
22-15 31st Street (Google Maps)

Supermarket signals demise as Target eyes Astoria

Supermarket signals demise as Target eyes Astoria
270 Park Avenue (Google Maps; iStock)

City planning through a pandemic

City planning through a pandemic
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...