We begin our weekly survey of Lower East Side real estate at 100 Norfolk (see above). Across the street from the Blue Building, this vacant two-story structure is being pitched as a development site. The asking price: $8.2 million. From the listing by Massey Knakal:
luxury apartment buildings, high-end condo developments, brand name
hotels being erected, SVA housing, the New Museum and the biggest names
in the restaurant and fashion industry opening new locations every
month, now is the time to make an investment in the Lower East Side."
The site has a footprint of 3750 square feet – with a potential build-out of 44-thousand SF. But due to new zoning restrictions, there's a 120 foot building height limit. The listing cautions, "We encourage potential purchasers to consult a
zoning expert prior to purchasing. The owners of this site own two
adjoining properties and can help maximize the building envelope."
We mentioned the Blue Building. As luck would have it, there's a newish listing in the neighborhood's most conspicuous building. Apartment 2A, a one bedroom, 975 square foot unit, can be yours for $1,150,000. The listing says it's the only apartment of its kind in the building. Selling points include: "bamboo wood floors… timed bathroom heating… built-in speaker/surround sound system,
suspended and track lighting, and your very own "Chico" mural just
outside." And let's not forget, "DIRECT apartment access to one
of Blue's PRIVATE outdoor spaces make this apartment an animal lover's
dream." For more information, see Prudential-Douglas Elliman's listing.
Traveling back down to earth, we head South of Delancey, to the Grand Street Co-ops. This 550 square foot one bedroom in the Hillman Houses is $299,000. The Green Property NY listing advises, "Keep it Simple-Less is More in these complicated times of Financial Hardship… Visit the bars and live music places and sample from all the new latest exotic restaurants. Check
out the new pricey condos on Delancey, Orchard, all surrounding areas and
pay quadruple if you wish, or come here and don't worry be happy."
Tea anyone? At 161 Allen Street, The Waffin Tea Room is for sale. According to the listing, the business has "…a great friendly staff &
wonderful repeat customers. You can enjoy your Hoakab & High speed
Internet Wi-Fi for all costumers. The Tea Room is less than a year old
with a 5 year lease. The business is located next to two other
restaurants & the… customers just keep on coming! The Tea
Room portion of the business has been an incredible success. Since
opening their doors the business has produced very good sales." The asking price: $80,000.