Time has come for more destruction and development on the Bowery. Next up is 171 Bowery.
Demolition permits were filed with the Department of Buildings last week. The first step in a new, gilded future for this property.
You’ll recall that the four-floor tenement walkup hit the market for $12.5 million three years ago, yet sold for about $4 million less than asking price in June 2017. The property had been pitched as a development opportunity, and now the current owner – Grant Shapolsky – is finally following through.
Plans were filed with Department of Buildings at the end of January to construct a ten-story tower onsite. The floor area is dedicated solely to offices, with 18,713 square-feet of commercial space and a terrace. Yet, as of this writing, the plans remain in a disapproved status.
Interestingly, Shapolsky found some fame (or notoriety) twelve years ago with Crush, a nightclub expressly for and by teenagers. Very smart, very privileged teenagers.
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