Ace Hotel Building on the Bowery Sells for More than $30M
This image has been archived or removed.
225 Bowery is now an Ace Hotel
That Ace Hotel coming to the Bowery, revealed here exclusively last fall (and denied by Ace), just cleared a major hurdle. The property, situated at 223-225 Bowery, finally sold to the pair of developers bringing the hotel brand to the neighborhood. Omnia Group and the North Wind Group completed the transaction on the 10-story building, according to a Real Deal report yesterday, paying more than $30 million. The hotel will boast 180 keys and a TBD condo component.
Apparently the deal had been in play since 2012, but complicated by the presence of the Salvation Army Chinatown Shelter in the ground level. The organization needed to find a new home, which reportedly happened a few months ago. So, there you have it – a utilitarian soup kitchen that served hundreds of meals a day pushed into the Boroughs for more luxury.
Meanwhile, 223-225 Bowery had concurrently been prepared for its hotel conversion. Gut renovation is underway.
The Salvation Army owned the building since 1972. With this sale, it’s no longer a force of good on the Bowery. The Bowery Mission stands all alone.
Recent Stories
Chinatown Garment Industry Hanging by a Thread
Once a hub of manufacturing for the city’s garment industry, there are only a few remaining factories in Chinatown from a peak in the hundreds. The localized industry, which once employed thousands of immigrant women and men, sparked an area restaurant boom in the 1970s. Yet, began to decline in the late 1980s when manufacturers started […]
Residents Unite Against Developer Plans to Swap Park for Parking on LES Waterfront
Residents on the Lower East Side waterfront may soon lose more publicly accessible outdoor space. The developer of a new super-tall plans to reduce a children’s playground to a parking lot. As excavation work commences on Chetrit Group’s 70-story, twin-towered development at 265 South Street, tenants in the adjacent building – Lands End II – […]
Chinatown Homeless Murder Suspect Still Awaiting Trial
More than two years since the horrific murder of four homeless men in Chinatown, the suspect has yet to be held accountable for the crimes. In the early morning hours of October 5, 2019 Randy Santos stalked, then allegedly bludgeoned to death Cheun Kwok, Anthony Manson, Florencio Moran and Nazario Vasqez-Villegas while asleep on the streets. In […]
Excavation Begins for 70-Story South Street Towers
Cranes, and plywood, and pile-drivers, oh my! Such is the story down on the Lower East Side waterfront. Department of Buildings on April 12 issued official approval to the Chetrit Group to begin foundation activities for its dual 70-story tower at 265 South. A month later, the big trucks are mobilized. While excavation is now […]
For 7th Year Running, Greek Jewish Festival Returns to Broome Street this Weekend
After a more subdued outing last year, the Greek Jewish Festival this spring is on the rebound, pulling out the stops. It returns on Sunday for another go-round. Founded by Kehila Kedosha Janina on Broome Street seven years ago, the event celebrates the culture and traditions of the Greek Jewish community. Years past saw crowds […]
