Overview
BKREA has been exclusively retained to facilitate the UCC foreclosure sale of 139-141 Bowery Street ("The Property"). The Property is a newly constructed, 14-story building that is approximately 50 feet wide and comprises a total of 51,872 gross square feet. The property is located on the east side of Bowery, between Grand and Broome Streets, at the nexus of Soho,Nolita, the Lower East Side, and Chinatown.
The package of unsold condominium units includes a total of approximately 31,031 net square feet. Of the 34 units being sold, there are 18 residential condos, 15 commercial condos, and 1retail condo. All units are currently vacant.
The retail condominium at the base of 139-141 Bowery features 4,069 net square feet of space across the ground and mezzanine levels. With 27 feet of frontage along Bowery, the retail space offers excellent visibility and ample room for signage. Ceiling heights are 20+ feet on the ground floor and 9 feet on the mezzanine level, creating a spacious and versatile environment.
Investment Highlights
- Prime Location - Located in The Bowery, near SoHo, Nolita, Chinatown, and the Lower East Side, with access to culture, dining, and nightlife.
- Exceptional Transit - Easy access to multiple subway lines (B/D, F, 6/J/Z/N/Q/R/W) and bus routes (M103, M15, B51), connecting to major Manhattan hubs and Brooklyn.
- New Construction Asset - 139-141 Bowery received their initial CO in May of 2024 and received the final CO in in September 2024.
- High Demand Drivers - Vibrant neighborhood with cultural landmarks, top restaurants, and nightlife ensures steady demand for office, retail, and residential spaces.
- Excellent Visibility - Prime frontage on Bowery with heavy foot traffic and separate entrances for residential and office use.