Event space at former Bowery Savings Bank hits auction block

It's the first time in 2 decades that the property has in the market

New York /
Feb.February 11, 2019 06:30 PM

130 Bowery (Credit: Google Maps and Capitale NY)

The building that currently houses high-end events space Capitale — formerly the Bowery Savings Bank headquarters — is on the market for the first time in nearly two decades.

Wendy Maitland, who started her brokerage Atelier WM after being pushed out at Brown Harris Stevens, has the listing. The property, at 130 Bowery, will be sold through auction, starting Feb. 11, Bloomberg reported.

But the property won’t have an asking price.

“That’s the $65 [million] question,” Maitland told Bloomberg. “My instinct says it will certainly be in the fifties.”

Even as a softer market has led to more property auctions, Maitland said the current owners are not typical clients in this situation.

“I wouldn’t take the listing if I weren’t confident they’re serious sellers. That doesn’t mean desperate,” she said. “They’re based in Los Angeles, so this isn’t a core asset for them.”

The building spans 32,000 square feet and has been listed in on the National Register of Historic Places since 1980. It has 90-foot ceilings and marble-clad interiors. And the owners are open to selling it vacant so the space can be repurposed in a variety of ways, the report said.

The sale is in partnership with auction house Paramount Realty — which previously led a condo auction for 6 Cortlandt Alley. Founder Misha Haghani conceded the “the word auction does carry strong meanings,” but noted the company is focused on motivated sellers and not interested in holding property. [Bloomberg] — Meenal Vamburkar


Related Articles

arrow_forward_ios
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
(iStock)
Job recovery sputters, but hospitality & leisure add hiring
Job recovery sputters, but hospitality & leisure add hiring
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)
NoMad Hotel heads back to the auction block
NoMad Hotel heads back to the auction block
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
Google CEO Sundar Pichai (Getty, iStock)
Google’s hybrid model will allow 20% of employees to work remotely
Google’s hybrid model will allow 20% of employees to work remotely
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
arrow_forward_ios

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

Loading...