WD-50 is Reduced to Rubble for 7-Story Condo Development

Posted on: June 5th, 2015 at 5:18 am by
This image has been archived or removed.

Thar she blows! That there be the end as we know it for the low-rise midsection of Clinton Street. All in the name of uber-luxury and its well-off minions.

That’s right. Demolition of 50-62 Clinton officially commenced this week after a substantial holding pattern the last couple months. At least a fraction of that timeout period apparently owes itself to site violations. The former home of WD-50 was the first of the few to fall.

It was a good run.

Once these parcels are reduced to rubble, the monument to gentrification can be erected and stocked with its ilk. Seven stories, in fact, boasting 37 units across 37,868 square-feet of floor area. Entry level cost for buyers in this brick hunk is north of $1 million.

This image has been archived or removed.

Sales went live at 50 Clinton Street back in April, and it’s apparently going pretty well. Approximately 40% of the total 37 units in the building are already sold, according to the New York Times. That’s in the neighborhood of a dozen apartments.

DHA Capital – which acquired the property for a record $28.95 million – is targeting “first-time buyers and young professionals” (yuppies?) to populate the new development.

This image has been archived or removed.

Recent Stories

Ed Higgins Gets ‘Mail Art’ Retrospective at Van Der Plas Gallery on Orchard Street

Fresh off featuring his art in Ludlow Coffee Supply, the Van Der Plas Gallery of Orchard Street is now dedicating a full artist retrospective to the late Ed Higgins. Higgins, known as a pillar of the “Rivington School” movement in the 1980s Lower East Side, and for his unique “Mail Art,” died last December at […]

Hypebeast Officially Announces its Division Street Conquest

Hypebeast is hyped for the Lower East Side. The Hong Kong-based fashion and lifestyle publication, Hypebeast, is moving to the seven-story commercial loft building at 41-43 Division Street in due course. A vinyl banner stretched across the frontage announces the forthcoming arrival. Plans for the 21,000 square-foot space, and its conversion, have been in the works […]

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 […]