A penthouse unit at 250 Bowery. Photo via Instagram.
The Bowery continues to lure apartment buyers with deep pockets. The Real Deal reports that a penthouse unit at 250 Bowery, the new project by VE Equities, is in contract for $2500 square foot, or about $3.9 million. Douglas Elliman broker Fredrik Eklund announced the pending sale on his Instagram feed, saying it set a record on the Bowery. Appraisers seemed to agree that the deal surpasses any other sale on the Bowery, at least in the past six years.
Residents of the Smith Houses packed a gymnasium on Madison Street last night for a tense “emergency tenant meeting” to discuss the New York City Housing Authority’s plan to lease some of its property for luxury development. They were greeted by NYCHA board member Margarita Lopez, who struggled to tamp down what she called “rumors” concerning the proposal.
A week ago, the Daily News reported that the cash-strapped agency would release an RFP (request for proposals) next month seeking developers for parking lots, playgrounds and other spaces at eight of its developments, five of them on the Lower East Side. The new construction, the News reported, would consist of 80% market rate housing and 20% affordable housing. Around $50 million in expected annual revenues would be plowed back into the public housing developments, which require billions in repairs and upgrades. On the LES, Smith, as well as the La Guardia Houses, the Baruch Houses, Meltzer (senior housing) and Campos Plaza (on East 12th Street) would be impacted. Many of the details in the newspaper report matched up with very general briefings given to members of the City Council and tenant leaders in the past month.
Looking west at Essex Street and beyond after this past weekend’s winter storm. Photo by Bahram Foroughi.
Partly cloudy this morning with rain showers expected in the afternoon and a high of 41.
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