The Real Deal New York

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

Seven years after construction started, 179 Ludlow project finds buyers
By Mark Maurer | January 19, 2015 02:20PM

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.