171 Bowery ‘Development Site’ Hits the Market for $12.5M

Posted on: May 25th, 2016 at 5:00 am by
This image has been archived or removed.

“OBEY the future; Join the most exciting avenue in NYC.”

That’s the proclamation from a new real estate listing circulating for 171 Bowery. The four-story tenement building, located just south of Delancey Street (and across from the ascending CitizenM monstrosity), is now on the open market as a $12.5 million “development site.”

Jan Sasson of the Sasson Property Group is the exclusive agent for the property.

And guess what’s being used to help sell this property. Shepard Fairey’s two-year-old “We Own the Future” mural down the block.

More building stats lifted from the press release:

  • 15,390 Sf of buildable space (FAR) above ground. As of right.
  • 2,565 Sf Lot/ 21X126 /6 FAR
  • Additional bonuses: .5 for C/F. mechanical, dormer, arcade or open space could add substantial FAR to the project.
  • C6-1 zoning lends flexibility of use. Condo, hotel, commercial, residential mixed-use or private townhouse, are all acceptable under the current zoning.
  • No Absolute height restrictions on the east side of Bowery. (It’s not protected like the west side with the “Special Little Italy District” zoning.)
  • Wide street allows for generous sky-plane exposure setbacks.
  • Open western exposure for great light.

According to the marketing materials released by Sasson, each of the leases at 171 Bowery – that includes retail and the three market rate apartments – conclude February 28, 2017. So, get ready for some major demolition and re-development here.

This image has been archived or removed.

Concept drawing for 171 Bowery, Photo: Jan Sasson

Recent Stories

Lower East Side Gets its First Annual Holiday Parade

This holiday season, an annual tradition is beginning for the Lower East Side. A local holiday parade complete with vintage fire truck. The Pacemakers, New York’s senior-citizen’s dance team, in partnership with the NYPD and the FDNY Foundation, are producing this inaugural event. It’ll feature Santa, Mrs. Claus, a Chanukah celebrant, and a Kwanzaa celebrant stop […]

Court Again Halts East River Park Resiliency Work

The chainsaws are silent in East River Park, as advocates yesterday secured a stay that blocks demolition as part of the city’s $1.45 billion coastal resiliency project. Judge Rowan Wilson of the state’s Court of Appeals granted the stay on the reversal of a restraining order against the work by the Appellate Division, First Department, […]

What You Missed at the ‘Uncapped’ SIGNS Group Show [Recap]

Have you ever walked by a fallen street sign plowed down by a car or ons swapped with fancier new models and thought, I really like that, and I’m taking it home. Luckily for a group of likedminded people, there is a collection of weathered or shiny, sparkling or grimy, flat surfaces to litter with the […]

Trees in East River Park Get the Axe Ahead of Resiliency Project

Timber! Monday was the first day of a new reality inside East River Park. From here on out, it won’t be the same; razed and rebuilt based on a controversial $1.45 billion resiliency plan. With much of the park sealed during the phased construction period – the whole capital project carries an estimated five-year completion […]

‘26Red’ Revives ‘90s Streetwear with Orchard Street Boutique

The nineties called, it wants its apparel brand back. Indeed, the recent resurgence of 26Red this year – revived from obscurity by owner John Bernard – has resulted in a new Lower East Side boutique. There is now a dedicated, 600 square-foot store at 145 Orchard Street in Hell Square. (Inside the former DaRucci leather […]