Historic Clinton Street Synagogue Lists Alley Lot for $5.25M

Posted on: April 3rd, 2017 at 5:00 am by

chasam-sofer-clinton-1_wm

Congregation Chasam Sofer is getting into the real estate speculation game on the Lower East Side. The Clinton Street synagogue just listed its adjacent lot for a hefty sum.

This 2,000 square-foot gated walkway on its southern flank, which doubles as a landscaped garden complete with fountain, is now on the market for $5.25 million. The site offers 8,000 square-feet of buildable floor area, and can be “delivered vacant allowing for imminent development potential.” The synagogue’s air rights are also negotiable, so expect the worst.

The lot at 14 Clinton Street was previously city-owned land that eventually transferred to Chasam Sofer in July 1999, according to public records.

Cushman & Wakefield is apparently the exclusive broker for the property. Below are the nuts and bolts.

14 Clinton Street [is] an ~8,000 BSF development site located on the Lower East Side, one of the most desirable neighborhoods in Manhattan. The property is an unimproved ~2,000 SF lot ideally located on Clinton Street between Stanton and East Houston Streets, an area experiencing a surge in demand for residential housing and retail space.

Additional Transfer Development Rights are available from the adjacent property at 10 Clinton Street allowing for a potentially larger development site pending zoning code. The property will be delivered vacant allowing for imminent development potential to capitalize on these market trends.

14 Clinton Street greatly benefits from its superior location on the Lower East Side, known for its abundant selection of established and new eateries, galleries, clubs, retailers, and nightlife options. The immediate neighborhood is home to a diverse population of residents due its proximity to other popular areas including the East Village, Little Italy and Chinatown, as well as new projects including Essex Crossing, a mega project comprised of ~1.9 million square feet of residential, commercial, and community space.

With record levels of equity pouring into real estate in the immediate neighborhood, this is a unique development opportunity to capitalize on a neighborhood undergoing a major transformation for resident and tourists alike.

Allowing development so close to Chasam Sofer will certainly tarnish its charm. Part of what makes this landmark so breathtaking is the freestanding nature of the building that isn’t crowded out by other architecture.

chasam-sofer-clinton-2_wm

Congregation Chasam Sofer at 10 Clinton Street has been on the block since 1892, its membership having merged from two congregations of Polish immigrants. Yet the building itself dates back thirty years before that. In fact, it’s the the second-oldest synagogue building in the city, and the oldest still in use in the state.

Yet, the State Liquor Authority doesn’t deem it an “active” house of worship, and is therefore not subject to the “100-foot Rule” for new license applicants. The matter has surfaced several times at the Community Board level in recent years.

Recent Stories

Delivery Worker Slashed and Mugged in Ridge Street Condo

A food delivery worker on the job was slashed across the face Sunday evening while in the elevator of a luxury condo building on Ridge Street, according to police. The unidentified victim, a 29-year-old man, had been in the elevator of 78 Ridge Street (Ridge Street Residences nee River Ridge Condo) when he was approached by […]

Under Community Pressure, City Moves to Renovate Rivington Playground

As Sara D. Roosevelt Park continues its steady descent, area stakeholders are pushing to rehabilitate a key playground in the northern section of the park to stave off the danger element. The Rivington Street Playground, situated across from the M’finda Kalunga Garden, is next on the docket for a refresh, much in the same way […]

‘Belse’ Erases Paulaner from the Bowery Ahead of New Vegan Brewery

A vegan brewery and restaurant is poised to open on the Bowery, taking the place of the failed, and since fallow, Paulaner Brauhaus. Indeed, as previously reported, Dallas-based Belse is on board to take over 265-267 Bowery. The relative newcomer – which began life last February – will go even bigger with this larger Lower […]

Moscot Moves HQ from the Corner to New Orchard Street Store

Moscot is no longer on the corner, leaving behind Orchard and Delancey for a spot just paces to the south. And for the first time in its history, no rent to pay. As first reported by Bowery Boogie earlier this year, the centenary opticians chose the mid-block space at 94 Orchard as new base of […]

Mark Miller Reopens Orchard Street Gallery This Week with Street Artist Hektad

The Mark Miller Gallery returns to Orchard Street this week, and is enlisting the help of an established graffiti writer to help relaunch. The longtime Lower East Side showroom will reopen on Wednesday – after a two-year pandemic hiatus – with an exhibit featuring Hektad. “Looking at the graffiti art of Hektad is like finding […]