Bowery Restaurant Supply Building Hits the Market for $21.5M
Another Bowery building is up for grabs, awaiting certain demolition and redevelopment.
The three-story commercial warehouse at 180 Bowery – currently home to Daroma Restaurant Equipment – just hit the market last week as a “development/conversion” opportunity for real estate speculators. Price sought for the property is listed at $21.5 million, double the amount paid ten years ago when the restaurant supplier first picked it up. Zoning allows for 30,000 buildable square-feet.
The new listing – courtesy of Cushman & Wakefield – describes this part of the Bowery as “a burgeoning strip of new development within the past few years.” Meanwhile, the forty-six-year-old Daroma, whose owner reportedly plead guilty to tax fraud in 2011, will likely need to find new headquarters after a future transaction (they were previously located beside the New Museum).
The only silver lining to this news is that 180 Bowery resides within the protected confines of the Special Little Italy District, which caps overall height to 85 feet.
What are the chances another hotel sprouts from this spot?