Holy Bowery! Lot Doubles Price in One Year

Property records today showed a four-story walk-up at 189 Bowery sold for $9.7 million—a pretty decent price for the one-time Skid Row, especially when compared with the $4.25 million that the very same 10,000=square-foot building sold for in mid-2006 .

The purchase seems to suggest the Bowery’s second act is getting into full swing, Read More

Sam Chang Buys Whitehouse Hotel for $7.8 M.

Can anyone in the New York City hotel business keep up with Sam Chang?

On June 11, the prolific hotelier purchased the Whitehouse Hotel at 338 Bowery for $7.8 million, according to city records.

However, unlike a number of properties that Mr. Chang has purchased, he has no immediate plans to change Read More

Schrager to Bowery Hotel: Good Luck!

Only four of the Bowery Hotel’s 17 floors have opened for business, but the fireplace in its whiskey-colored lobby already hisses. The thick velvet curtains are up, the over-worn Oriental rugs are down, and there’s pricey booze in the back-room tavern, as well as seven copies of The Times in the old-fashioned newspaper racks.

But Read More

In This Week's [em]Observer[/em]…

Bloomberg Hits Up Real-Estate Bigs for WTC Memorial–$5 M. a Piece!
“One morning in early February, about a dozen of New York’s finest and wealthiest real-estate leaders convened to eat breakfast and hear why they should contribute to the World Trade Center Memorial Foundation. The place was Gracie Mansion. And the speaker was the Read More