Wednesday, September 17, 2014

Condos possibility for the coolest building on the Bowery


[Via Wikipedia Commons]

The former Amato Opera is not the only historic building on the Bowery to be heading to the condo after-life.

Those rumors from last month are true: 190 Bowery, the longtime home of photographer Jay Maisel, has been sold, the Times confirms today.

RFR Holdings bought the mysterious, 37,000-square-foot building on the corner of Bowery and Spring Street.

To the Times for quotes from RFR co-founder and principal Aby Rosen ...

“The building is in terrible shape. There’s no heat, Jay lives in just a small area of the building, another winter is coming, and it was time,” said Mr. Rosen, who spent six months cajoling Mr. Maisel into selling the home. “When you own a property for that long, and you are not a real estate professional, it takes a lot of convincing.”

Mr. Rosen, who has yet to close on the purchase and declined to reveal the price, said the building could be converted for retailing at the base with condominiums above, or possibly offices or even an art gallery.

Maisel bough the 1898 Germania Bank building in 1966 for $102,000. He and his family have lived there ever since. The price tag of the building was estimated to be at $50-plus million.

11 comments:

JAZ said...

"The building is in terrible shape."

Ah yes, real estate vulture code for 'we'll take this off your hands for a fraction of what its actually worth'.

With friends like RFR 'cajoling', who needs enemies?

Goggla said...

Sigh...

Anonymous said...

what is the 'sigh...' for? if the owner wants to sell why is it any of your or my or anyone elses business? Guy bought the building and now its worth a fortune- providing your family with financial security is kinda important-

Anonymous said...

Very fortunate to have been in this beautiful space on a few occasions. A special place indeed.
Will miss it as is, all mysterious and wonderful, but I hope Jay & family will be very happy in their next home

Caleo said...

I still can't believe he sold it. This last holdout on a rapidly changing Bowery always made me feel as if all was not lost. A great piece of old New York, covered in graffiti and immune from the hurricane of luxurification swallowing the city.
He certainly held out for a long time, and his family will be financially taken well care of, but this loss hurts.
In an interview several years ago Jay said he would never sell, but I suppose age and concern for his family's welfare helped change his mind.
I wince when I think what will take this iconic buildings place.

Anonymous said...

With 50 yards coming in, the Maisal family can buy something real nice in Chappaqua and still have a sizable nest egg.

Anonymous said...

The building will get a new lease on life and will not crumble beyond repair with this purchase. Unlike destruction of just about every historical building on the Bowery this Beaux Arts beauty will hopefully stand another 100 years.

Anonymous said...

that building is a beauty; please don't tear it down is all I ask!

Anonymous said...

So who were those "real estate professionals" for turned sty town into that pile of shit for themselves? As is simply being a swindler make someone a professional? I guess that is how the wall street crowd view themselves.

Mr Rosen needs to review for himself the term professional. It is that be such means you know when, what and how to say something. The audacious nature of what he says it the reason why I have removed the title from my business description. Not because I do not fill that role in the community but because I rather not incure the association with the crowd.

Anonymous said...

But where will the tourists take their authentic NYC instagrams?

Anonymous said...

There goes the last of Old New York.