Penthouse at 115 Norfolk Street Sells For $3.8 Million, Setting Post-2008 Record

From the in-box:  Douglas Elliman agent Ariel Tirosh is trumpeting what he calls the most expensive apartment sale on the Lower East Side since before the 2008 real estate market crash.  The penthouse at 115 Norfolk Street has been sold for $3.8 million.  The 3-bedroom, 3-bath unit includes just under 2,000 square feet and another 2200 square feet of outdoor space on the 7th floor of the ultra-modern building just above Delancey Street.

As the Real Deal noted, the second most expensive residential deal in this neighborhood in the past four years was the penthouse at 263 Bowery.  A condo at 15 Rivington sold for nearly $5 million in June of 2008.  There are 24 units at 115 Norfolk Street; it looks like only two remain unsold.

“With this revival of this neighborhood as the times come out of crisis, we are starting to rebuild price levels,” Tirosh told the Real Deal. He predicted similar prices at two new projects,  250 Bowery and 100 Norfolk Street.   “It’s just a psychological barrier that was broken, I guess,” he said.

 

Wilson Tang’s Guide to Doyers Street

Doyers Street. Photo by Vivienne Gucwa/nythroughthelens.com.

Editor’s note: Black Friday is, of course, in full swing throughout New York City.  Whether you’re braving the crowds today or over the weekend, there’s no better post-Thanksgiving, post-shopping treat than a good meal in Chinatown.  And as Wilson Tang, the second generation owner of the Nom Wah Tea Parlor points out, there’s never been a better time to show your support for your favorite neighborhood restaurants.

As a restaurant owner in Chinatown and a lifelong Lower Manhattan resident, I wanted to write a few words to encourage people to dine downtown in the upcoming days and weeks — and especially to come check out Chinatown, a place that’s dear to my heart.

Now more than ever, Chinatown needs customers in its restaurants and shops. Speaking from personal experience, I can tell you Hurricane Sandy really did a number on the neighborhood’s commerce.  Long after the storm passed, businesses continued to suffer.  The losses from spoiled produce and seafood were in the thousands for places like my restaurant, which uses a lot of shrimp. The worst part is that the residual effects are still being felt by most businesses, since rent, utilities and labor costs just keep accumulating. It would not surprise me if some restaurants don’t make it in the upcoming months.

Morning Reads: Sergeant Sentenced, SOHO BID Wars, Sandy Taxes Bowery Mission

  • Army Sergeant Andrew Van Bockel has been demoted for his role in the death of Danny Chen (Daily News).
  • The SOHO BID battle has another airing at a City Council committee hearing (Villager).
  • The Bowery Mission and other food pantries are facing financial strain following Thanksgiving and Hurricane Sandy (WSJ).
  • “His People,” a 1925 silent film about Jewish boxers on the Lower East Side, earns new respect (Jewish Chronicle).

 

Good Morning!

Partly cloudy today with a high of 56. A little cooler over the weekend. High on both Saturday and Sunday in the low 40’s with cloudy skies.

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