This afternoon, we revisit 179 Ludlow St., formerly one of the Lower East Side’s biggest eyesores. As you might recall, this once stalled property was dubbed the “Rat Castle.” In the past couple of years, though, a high-end condo project has emerged on the site next to Katz’s Deli and across the street from the oh-so-trendy Ludlow Hotel.
A recent check of StreetEasy shows that all six full-floor apartments have been claimed. The penthouse sold to Antony and Sina Petersen for $2.4 million last month. Serge Kassardjian, a Google executive, picked up the fourth floor unit for $1.7 million. Two remaining apartments are under contract, including one 1069 sq. ft. unit for just shy of $2 million.
As Commercial Observer reported, an offshoot of Sutton Equity purchased the ground floor retail condo for $3 million:
“We’re extremely excited about the surrounding developments in the neighborhood,” Jesse Sutton said. “From Hotel Indigo, Ludlow Hotel, Soho House and Magnum Properties’ development site where Equinox recently signed, the Lower East Side is dynamic and has been benefiting from increased foot traffic. We are excited that our condo has a connection with the past in Katz’s 127-year-old establishment, and these brand new hotels and restaurants.” He added that Sutton Equity has “a few tenants in mind that are interested in the space.”
Ariel Tirosh of Douglas Elliman handled the residential sales. He’s also responsible for other high-end projects on the Lower East Side, including 100 Norfolk St. and the condos soon to be built as part of Essex Crossing.
