Lower East Side Links
–Jared and Joshua Kushner have apparently scooped up the Hotel on Rivington. The 20-story property was developed by Paul Stallings, who has operated the hotel as an independent brand since its opening in 2005. THOR is likely set for a major renovation. [Page Six].
–Essex Crossing has refinanced its completed building at 145 Clinton St. Wells Fargo is backing the rental housing in “The Rollins” for $93 million, while Goldman Sachs’ commercial mortgage-backed securities group has provided a $63 million loan for the commercial portion of the building. More Essex Crossing news: Spectrum Electronics has signed a lease for 4,000 square feet in the same building, which also includes Trader Joe’s and Target. [New York Post]
–The Parks Department finally agrees to relocate staff and equipment in the Stanton Street Park building, a modest but important step in returning the structure to the community for local uses. [Villager]
–A rent hike has prompted Nick Morgenstern to close El Rey, his popular cafe on Stanton Street. [Eater]
–Remembering Jimi Zhivago, East Village musician, producer and composer. [EV Grieve]