About Stylus, a private members-only club coming to the Lower East Side

A private members-only club is in the works for the under-renovation 48 Clinton St. between Stanton and Rivington. 

An EVG reader shared the photo below... in which reps for the new concept, Stylus, placed notices in adjacent buildings.

The unnamed applicants will appear before CB3's SLA committee on May 13 for a liquor license for the space.

According to the document, "Stylus is a unique, purpose-built listening and gathering club for the curious and creative in the Lower East Side neighborhood." 

The document goes on to share some background about the applicants, who are "medical entrepreneurs and art veterans in the for-profit and nonprofit sectors."

And!

The family, whose love for music and art encompasses generations and continents, created Stylus with the intention of sharing artistic and culinary experiences with a vetted community of art enthusiasts, colleagues, and friends in an elevated environment.

Stylus will take up residence in the basement and ground floor, featuring seating for 60 and a listening space. The "curated food and beverage program" will include "thoughtfully crafted small plates, each uniquely designed to seamlessly complement the focused listening experience while highlighting the fleeting beauty of seasonal ingredients." 

The proposed hours are 9 a.m. to midnight daily, with a 1 a.m. close on Fridays and Saturdays.

The May CB3 meetings calendar has not been posted just yet.

No. 48 was once home to LoHo Studios, where artists such as Joey Ramone, Willie Nelson, Phish, Patti Smith, and Joan Jett recorded. The building was also one of two local properties previously owned by entities of the Blue Man Group. 

In 2018, Dr. Arani Bose, co-founder of the medical device company Penumbra, reportedly paid $5.4 million for the property.

Report: 48 Clinton St. has new owner; first property sold in an NYC Opportunity Zone

[48 Clinton St. photo from Saturday]

As I first reported in September 2017, 48 Clinton St. between Stanton and Rivington was on the sales market — with air rights that could potentially redevelop the property up to 10,000 square feet for a mixed-use development.

Lois Weiss at the Post reported this past Saturday that No. 48 has a new owner.

Weiss also reported that this property will be "the first in Manhattan to be sold to a Qualified Opportunity Fund in an Opportunity Zone."

Since the new U.S. law designated such zones across the country, the pool of buyers for these properties has widened to more than just real-estate investors seeking 1031 tax-free exchange purchases.

According to Anchin CPAs’ Marc Wieder and Jeffrey Bowden, any seller of a home, apartment, stock, collectible, art or business is able to roll their gains into an Opportunity Zone project.

Over time, such an investment allows investors to both step up the tax basis on the gain and defer the taxes.

Dr. Arani Bose, co-founder of the medical device company Penumbra, paid $5.4 million and reportedly intends to redevelop the building for his private foundation.

No. 48 was once home to LoHo Studios, which an array of artists such as Joey Ramone, Willie Nelson, Phish, Patti Smith and Joan Jett have used for recording.

No. 48 was one of two local properties previously owned by entities of the Blue Man Group. The other, 238-240 E. Third St. between Avenue B and Avenue C, is being developed into a 7-floor residential building.

Meanwhile, there's another Opportunity Zone property for sale in the neighborhood — 347 E. Fourth St. between Avenue C and Avenue D. That three-story building has been on the market for $3.5 million.

Previously on EV Grieve:
48 Clinton St. for sale as development site

48 Clinton St. for sale as development site

[48 Clinton St.]

Yesterday I noted that 238-240 E. Third St. between Avenue B and Avenue C is available as either a development site or as its most recent use — a theater space.

This is one of two properties that founders of the Blue Man Group sold this past summer for $18.5 million.

The other site is 48 Clinton St. between Stanton and Rivington on the Lower East Side. That rather mysterious building (pictured top) is also for sale.

According to the listing at RKF:

The property can be redeveloped up to 10,000 SF for a mixed-use development as per R7A zoning.

New residential projects include the adjacent 50 Clinton and The Ludlow, which have introduced 280 high-end residential apartments, bringing many young, affluent New Yorkers to the neighborhood.

A PDF of the property — billed as a "redevelopment opportunity" — notes that the four-level space has served as a recording studio.



No. 48 was once home to LoHo Studios, which an array of artists such Joey Ramone, Willie Nelson, Phish, Patti Smith and Joan Jett have used.

There isn't a price listed for No. 48.

Public records show that an LLC affiliated with Blue Man Productions bought the building in 2008 for $5 million.