Sales Beat

Ship Sails on $11.3 M Sale of The Mayflower in Lower East Side

223 East Broadway

The ship has sailed on an opportunity for investors to pick up a Lower East Side building known in some real estate circles as The Mayflower, located just one block south of the revived Seward Park Mixed-Use Development Project.

Massey Knakal arranged the $11.3 million sale of the mixed-use building at 221-223 East Broadway for a Long Island investor who scooped the competition to win out an aggressive bidding process.

“The high level of interest and activity we received at 221-223 East Broadway indicates the growing interest in the area south of the Seward Park urban renewal area,” said Massey Knakal Director of Sales Michael DeCheser, who exclusively represented the seller with Senior Vice President of Sales Robert Burton. Read More

Development

City Seeks Developers for Seward Park Mixed-Use Project

Credit: EDC

After a decades-long stall in the plans for the Seward Park project in the Lower East Side, the city is seeking a developer (or developers) to build and operate what will eventually become an approximately 1.65-million-square-foot, mixed-use development.

The Economic Development Corporation issued an RFP today for the development project that will take shape on the largest contiguous parcel of city-owned land in Manhattan south of 96th Street — a plot of land near the intersection of Delancey and Essex streets that the EDC called a “void in the urban fabric for 45 years.”

The RFP marks another historic milestone for the Lower East Side, said Seth Pinsky, president of EDC. Read More