Via the EVG inbox…
The 25-foot-wide property includes a three-story, 4,900-square-foot building that will be delivered vacant. Located in the Little Italy Special District, zoning will allow the construction of a new development totaling 15,000 buildable square feet.
Said Adelaide Polsinelli, senior managing director and principal for Eastern Consolidated: “The property is in an extremely hot area of downtown at the threshold of Soho, Nolita, the Lower East Side, East Village, and Little Italy, neighborhoods that are experiencing tremendous investment and undergoing rapid transformation with a dynamic mix of nightlife and dining options, art galleries, museums, hotels, condos, markets, and specialty retail.”
The last few years have seen the Bowery revitalized through a host of major commercial, residential, cultural, and institutional developments on a 10-block stretch. The Bowery Hotel at East 3rd Street and the Cooper Square Hotel at East 5th Street are among the developments that have taken full advantage of this chic location.
The Commercial Observer and BoweryBoogie have more background.