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Blue Man Group sees green in Opp Zone

Investor buys Lower East Side building for $5.4M

The Blue Man Group and 48 Clinton Street on the Lower East Side (credit: Wikimedia Commons, Google Maps)
The Blue Man Group and 48 Clinton Street on the Lower East Side (credit: Wikimedia Commons, Google Maps)

The Blue Man Group jumped at the opportunity to make some green.

The performance-art group is selling its Lower East Side building for $5.4 million, which will be the first Manhattan property sold into a qualified opportunity zone fund, the New York Post reported.

The small mixed-use building at 48 Clinton Street spans 5,467 square feet, and has development rights that could push the buildable space up to 10,120 square feet.

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The buyer is Dr. Arani Bose, who co-founded the medical device company Penumbra.

“We put up a sign in September and the buyer was walking by and called off [of] the sign,” said Cushman & Wakefield’s Michael DeCheser, who marketed the property with his colleagues Patrick Dugan, Mei Ling Wong, Andrew T. Berry and Bryan Hurley.

The building hit the market last year asking $7.2 million. [NYP] — Rich Bockmann

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