Longtime LES resident Michele Campo of the Bowery Alliance of Neighbors sent along these pictures of the demolition of 185 Bowery, which finally got underway this past week. The Real Deal reported two years ago that the global real estate firm Brack Capital bought the townhouse for $8 million. They also own three adjacent lots (187, 189 and 191 Bowery. All together, the company sunk about $30 million into the investment.
WNYC and the Observer have both taken notice of what’s transpired here – focusing on the plight of Roberta Degnore, who lived in 187 Bowery for 30 years. The lone holdout after all of the other tenants got out, Degnore finally settled with the new landlord and abandoned her 1500 square foot loft.
According to Brack Capitol’s web site, 185-191 Bowery will one day be a boutique hotel. Scaffolding went up well over a year ago on 185 Bowery, but until this past week nothing appeared to be happening. One hotel-industry analyst told WNYC in November, “hotel development is a 2–3 year process… In general, if they aren’t already started, they’re at best long, long delayed because financing just isn’t available and I can’t conceive anyone who would start one today.”
In 2008, Jeremiah looked into the rich history of these buildings.
