It’s been a couple of years since we’ve seen any activity at 3 Essex Street, the former home of M.Schames & Son, the longtime ower East Side paint store. The business relocated to 90 Delancey Street, after the demolition of a neighboring building (5 Essex Street) destabilized Schames’ northerly wall. Now both buildings have been sold.
According to records filed with the city’s finance department, “3-5 Essex Partners LLC” purchased both properties. Schames sold 3 Essex for $2.5 million. A separate owner, “49 Essex Street Property LLC” sold 5 Essex (an empty lot) for $3.5 million.
In the last few weeks, new fencing went up in front of 5 Essex. We’ll have more on the future of this site in the next couple of weeks.
I’m sure they’ll tear it down and use the double lot to build more million-dollar lofts.
I hope someone saves the signs which I love.
The word on the street is that Ben Shaoul is one of the principles on this deal.
Really? That’s interesting. Shaoul’s nickname is Sledgehammer. The reason Schames had to move to Delancey is that whoever did the demolition next door de-stabilized the foundation of the building Schames was in, 3 Essex Street.
If it is Shaoul, it’s not surprising that his crew did that. The crew demolishing the building next door to 3 Essex almost caused 3 Essex to collapse.
A very neat way to obtain a property. But that’s what gangsters do, never mind that they wear suits and live in swank West-side lofts.
A recent article in the NYT indicates that, apparently, his feelings are hurt because people seem to dislike him.
have you noticed the remnants of a stairway on the side of what used to be the loew’s canal movie theater behind #5 essex street empty lot?
Just noticed that there is a stop-work order in effect. That almost guarantees The Sledgehammer is in on “the work” going on there.