New York, NY –February 13, 2019 – Cushman & Wakefield today announced that the real estate services firm has been retained on an exclusive basis to market for sale 139-141 Bowery, a 50-foot wide development site between Grand Street and Broome Street in Lower Manhattan.
A Cushman & Wakefield team consisting of Michael F. DeCheser, Mei Ling Wong, Andrew T. Berry and Bryan F. Hurley will be leading the marketing efforts on behalf of the property’s seller.
“139-141 Bowery provides investors and developers a rare opportunity to build and own along one of the most sought-after corridors in New York City, the Bowery. It has evolved into a 24/7, 365 destination for living, working, shopping and playing” said Michael DeCheser of Cushman & Wakefield.
“The Bowery location has tremendous value. This site can be built as hotel/ office/ mixed use building and is ideally situated in the heart of many existing as well as new developments. The demolition has been completed and signed off, which help speed up the development process,” added Mei Ling Wong of Cushman & Wakefield.
139-141 Bowery is a 50-foot-wide development site with maximum buildable of approximately 41,000 square feet. The air rights and light and air easement from 143 Bowery are included in the offering. There is an approved plan in place for a 14-story mixed use building which calls for retail space on the ground floor and mezzanine level, offices, and community facility space on floors 2-6, and residential apartments on floors 7-14.
139-141 Bowery is situated in a prime location downtown. Nearby attractions include the famous event venue, Capitale, across the street. Selina, a hotel and co-working space operated by WeWork founder Adam Neumann at 138 Bowery, and the Citizen M Hotel at 185 Bowery. The Moxy Hotel’s third New York City site is beginning construction steps away from the subject site as well as a brand new 10-story office building at 171 Bowery. The property is steps away from the B, D, J and Z trains.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.