Wine bars really began to supplant winos on the Bowery in 2007, when Whole Foods, the Bowery Hotel and the New Museum of Contemporary Art all opened on New York’s fabled broken boulevard. The 2008 market crash did little to slow skid row’s transformation into the Meatpacking District East (see: The Standard, East Village Hotel at 25 Cooper Square, just off Bowery).
Now the Downtown thoroughfare is poised to enter yet another phase of redevelopment. Intermix, the self-proclaimed “fashion boutique for trendsetters, A-Listers and glam fashionistas” opened in May at 332 Bowery, a former bodega. And last month, a portfolio of 11 mixed-use buildings sold to hip-hop clothier Joseph Betesh for $62 million.
The retail brokerage RKF is at the front of this gold rush. And Senior Director Brian Segall has become the firm’s Bowery guru. Last week, Mr. Segall and Robert Futterman, RKF chairman and chief executive, led The Commercial Observer on a tour of the company’s Bowery assignments, which (to the dismay of preservationists including Martin Scorsese) bolster RKF Executive Vice President Ariel Schuster’s prediction that the Bowery will soon be “one golden strip.”
A family trust sold 11 mixed-use buildings on a newly fashionable strip of the Bowery between Houston and Canal Streets. An investment group led by hip-hop clothier Joseph Betesh bought the portfolio–including the home of Keith McNally‘s Pulino’s–for $62 million in what could be the latest whisper of trouble in Mr. McNally’s restaurant empire.
Much has been made of the metamorphosis of the Bowery from one time skid row to trendy runway. Boutique hotels, apartment buildings, the New Museum and residential developments have landed and it seems retail is realizing the street’s potential.
“I really think it’s coming together down there,” said Faith Hope Consolo, chairman of the retail Read More
Last week it was revealed that a new boutique hotel would replace a Salvation Army shelter on the Bowery, driving the final slender, glassy nail into the old, down-and-out Bowery’s coffin.
Today, the deal with the French Louzon Group to buy the site was finalized, and with it new renderings for the project were Read More
Five months after the Department of Buildings approved a proposal for renovation at 135 Bowery, building owner Ricky Wong received an unwelcome letter from the city’s Landmarks Preservation Commission.
The LPC wanted to designate his small, three-story building, a specimen of the early 19th-century Federal style, as a city landmark. Such a ruling would likely Read More
The disreputable ghosts of Boweries past-the gangsters, vagabonds and punk rockers who saw the street shape—shift over the past century and a half—likely have more in common with each other than with the citizens of the Bowery lately. The last few years’ barrage of the new (new luxury condos, new cuisine, the boxy Read More