“Canal Tower” Rising at 86 Canal Street

Posted on: October 9th, 2012 at 6:19 am by
This image has been archived or removed.

There’s most certainly a pulse; that dormant mess of land at the southwest corner of Canal and Eldridge is alive. Earthmoving had been a constant around here for months, and the fruits of those long-delayed efforts finally reached eye level rather recently. 86 Canal Street – dubbed “Canal Tower” – breached the plywood threshhold and is nearly two stories in height.

According to approved plans filed with the DOB, this so-called Canal Tower will top out at twelve floors, and boast 50,125 square-feet of new Chinatown real estate. Of that floor-area, nearly half is split between residential and commercial (89 dwelling units), with a paltry 900 square-feet earmarked for community use. The plywood sign indicates a completion date of December 2013. What’s the over/under?

This image has been archived or removed.

Anyway, controversial landlord Baruch Singer acquired 86 Canal in 2007 for $20.5 million, and promptly razed the five-floored tenement. His grand plan was a sixteen-story nightmare. Thanks to a terrible economic downturn, those dreams were not realized, and he sold the property (at a loss) to Queens-based Wing Fung Realty Group in 2010 for $16.5 million.

Recent Stories

Avril Lavigne Marks 20th Album Anniversary on Canal Street

Avril Lavigne returned to SoHo this week to mark the twentieth anniversary of her pop-punk debut, Let Go. The “Sk8er Boi” artist took to TikTok in celebratory gush, posting a quick hit of her standing in the intersection of Broadway and Canal Street. An ode to the album cover, twenty years older and not blurry, […]

Long-Stalled Grand Street Lot Reactivates

Despite ongoing troubles with his East Broadway project, local owner-developer Daniel Wise is now proceeding with a new development planned for Grand Street. No longer an overgrown jungle of weeds, the zombie parcel spanning 330-332 Grand is, as of a couple weeks ago, fully reanimated. The Department of Buildings issued permits for foundation work last […]

From the Rooftops: The Hell Square Aural Assault

Articles about ear-shattering noise levels, from parties to cruising cars, as well as the general lack of regard for the residents of Hell Square, are rote at this point. Almost a cliche. But to residents living in the bullseye, the aural assault remains a weekly nightmare. And this past Saturday night, by several accounts, upped […]

Pitt Pool Opens for Summer Season

New York City public pools officially opened yesterday. For the Lower East Side, that means the Pitt Pool (aka Hamilton Fish) is ready to go. The launch happened with great fanfare. Parks Commissioner Sue Donoghue joined Manhattan Borough President Mark Levine, Assembly Member Harvey Epstein, Senator Brian Kavanagh, Council Member Carlina Rivera, and local kids […]

At Belse, the New Vegan Brewery on the Bowery

Belse, the Texas-based vegan brewery and restaurant, is now in business on the Bowery. The Lone Star State transplant – officially, Belse Plant Cuisine – takes 11,000 square-feet at 265-267 Bowery, in what was previously the fleeting home of the Paulaner Brauhaus brewery. The renovated space features three sections – a restaurant, bar, and Garden […]