Salvation Army Building Sold; Boutique Hotel and Restaurant Planned

According to this morning’s New York Post, the former Salvation Army building at 347-349 Bowery has been sold to the Paris-based Louzon Group for $7.6 million. More details:

The family company intends to construct a boutique hotel that would include one of its own restaurants. In France, the restaurateur operates a few dozen restaurants and one alternative-location hotel. “They are successful and have a strong following,” said Alan Miller of Eastern Consolidated, who repped Louzon in the purchase. Architect Gene Kaufman, who has designed a slew of the city’s most recently constructed quick and cozy hotels, will be fashioning the 65-room project. Kaufman initially approached investment broker Miller to help find the group an appropriate site on the Lower East Side. As there was nothing vacant available in the range of 15,000 to 50,000 square feet that was buildable, Miller and colleague Robert Ortiz reached out to Jonathan Plotkin of Colliers International, who represented the Salvation Army.

In 2009, Community Board 3 rejected a bid from another restaurant, Koi, to move into the building, saying it was the last thing the over-burdened, over-gentrified Bowery needed. The Post reports the property has been off the market since the “Koi debacle.” But the offer from Louzon generated five competing bids. But in the end, Louzon prevailed.