A Decade Later, 2 Developments on Grand Street Finally Nearing the Finish Line

Posted on: February 17th, 2016 at 5:12 am by
This image has been archived or removed.

At Grand and Orchard Streets, luxury speculation has gone from boom to bust, and again back to boom. The contiguous row of pastel-colored shops didn’t last into the new decade thanks to a visit from the wrecking ball.

Already eight excruciating years in the making, the mixed-use residential project at 324-326 Grand Street is finally nearing the finish line. The latest architectural addition to the seven-story building was the installation of new balcony ironwork over a year ago. Then, back in August, the scaffolding and sidewalk plywood was finally carted away, revealing the two commercial units. It’s starting to look like a real development. Took ’em long enough.

This latest luxury offering will contain 20 total dwelling units, equating to 13,692 square-feet of residential living space; the remaining 3,738 square-feet is reserved for commercial use. As previously reported, the original goal for this combined parcel was a 20-story hotel from the hand of Baruch Singer. The controversial landlord sold the property to “326 Grand Realty” a few years ago for $4.5 million, but this new owner is reportedly kin.

This image has been archived or removed.

February 2008, Bowery Boogie file photo

Meanwhile, the newer development on its eastern flank – 328 Grand – is at a similar stage in its life cycle. After eight years in development, the structure is but a furlong from accepting occupants. It topped out shortly after its neighbor. The exterior is also painted a darker hue.

This new structure – which also had early plans of hotel – is six stories (68 feet), and carries 6,711 square-feet of floor area. Much of that is relegated to residential use; seven units are planned, presumably indicating that each floor will carry one apartment.

CTM Properties is now seeking condo buyers and businesses to take leases here. Signage to that effect sits in the ground level windows.

This image has been archived or removed.

Photo: Curbed

Recent Stories

Displaced Chinatown Business Returns Months After Devastating Fire

Four months after a deadly fire knocked out 78 Mulberry Street, one of its businesses returned to the scene. Ewa Trading Company reopened in its former Chinatown home earlier this week. The store had spent some of the interim displacement period selling from a shuttered Vietnamese restaurant a few paces north. The two-alarm fire broke […]

EDC Sues Essex Restaurant for Back Rent over Former Essex Market Lease

Three years removed from its relocation across Rivington Street, the city filed suit against the Essex restaurant for alleged unpaid rent. The Economic Development Corporation (EDC) sued Essex for nearly $60,000 in unpaid back rent on the former Essex Market building it previously occupied, according to the lawsuit filed Monday. The city entity claims that […]

Exile on Orchard Street: Tenement Museum Recreates Exhibits During Renovations

The Tenement Museum is amidst a preservation project at 97 Orchard Street, but will continue its programming with replicas not too far away. The 1863-era tenement this past Sunday embarked on “vital” restoration work to preserve its walls, floors, roof, as well as the installation of a new HVAC system that will provide improved climate […]

Former Home of Stanton Social on the LES Hits Market for $5.9M

Stanton Social has been in the grave for nearly four years. Now, its former home is back on the market. The two-story building – located at 99 Stanton Street in Hell Square – carries an asking price of $5.9 million. B6 Real Estate Advisors is listed as the exclusive brokerage for the property, which has […]

DOT to Pave Pock-Marked Pell Street; Sheds Removed

Pell Street is finally on deck for a resurfacing, forcing numerous Chinatown businesses to dismantle their street shed annexes. Those who operate outdoor dining sheds along Pell Street received notice this week from the Department of Transportation to dismantle structure ahead of scheduled street repaving. This small neighborhood street – which once terminated at Division – […]