Sunday, December 23, 2018

The future of the Etna Tool & Die Corporation building on Bond Street


[EVG file photo]

The Post reports today that James Galuppo, the owner of the now-closed Etna Tool & Die Corporation at 42 Bond St., recently passed away. He was 100.

So will the 7-floor No. 42 hit the sales market for a luxury condo conversion?

According to the Post, Mr. Galuppo left the building here between the Bowery and Lafayette to his daughter Flavia Galuppo as part of a $12.5 million estate. And she has no plans to unload the property, valued at $6.3 million.

"My parents’ real concern was that their tenants who have invested their livelihoods in our building would have to vacate, and that really bothered them. My father asked me if it was feasible to try and stick it out . . . I intend to honor his wishes."

After 70 years, Etna Tool & Die Corporation closed last year. (See this August 2017 feature at Gothamist for more on what was one of the last tool and die shops in the city.)

And who's in the building now?

A modeling agency, public relations firm and tech company rent space in the building now, along with three residential tenants.

Flavia, an art director in the film industry, said she will likely seek a new tenant for the ground level to replace the factory.

Mr. Galuppo, who was born on the LES in 1918, opened the shop in 1946. He bought the building in the 1970s.

"He would say, ‘I never thought I would see the neighborhood go in this direction,’ ” Flavia said of her dad. “People were warning him, ‘What, are you crazy to buy here?’ But he really believed in the beauty of the neighborhood."

5 comments:

Anonymous said...

that is refreshing to hear her say her father was concerned for the tenants.

Gojira said...

Thank you to both Mr. Galuppo and Flavia for realizing that there really ARE things more important than money. Rest in peace, sir, and thank you for holding fast against the seemingly irresistible lure of gentrification and profit. To you, ma'am, enjoy your holidays -

Anonymous said...

I have one memory of Etna Tool & Die Corporation and Mr. Galuppo to share. About 20 years ago, after walking by the shop for 20 years I decided to see if the shop could replicate a small spring that holds glass globes into an art deco chandelier. I took one of the springs that was still intact into Etna, where I met Mr. Galuppo. He greeted me upon entry and politely asked what he could do for me. I showed him this small spring, actually a thin piece of metal about 1/4 inch wide which had been shaped and curled into a part made for Lightolier lamps....in the 1930's. I asked if he could make me three of them (two out of five where broken and I thought I would get an extra just in case.) He inspected it for about 15 seconds and surely. They were ready in just a few hours and he charged me about $10.00. Can you imagine? This was old school, the best of New York City. A great shop with a wonderful owner.

Anonymous said...

Kudos to Flavia Galuppo and sorry for the loss of her father. I wish all the children of long term landlords were as conscious of their parents wishes and keeping the neighborhood diversified. (Looking at you New York Art Supply.)

Alyce C said...

Nice story.