Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Downtown New York  + Retail  | 

Bowery Mixed-Use Fetches $1,175/SF

Cushman & Wakefield arranged sale of 159 Bowery, a 4,252-square-foot mixed-use property on Manhattan’s Lower East Side. The final sale price was $5,000,000.

A Cushman & Wakefield team of Andrew Berry, Michael DeCheser, Bryan Hurley and Charlie Gravina represented the seller, Brian Faerman.

“This was the first sale of the property in over 50 years,” said Berry. “The building sold for more than $1,175 per square foot or $479 per buildable square foot, proving the strength of the Lower Manhattan submarket, even in unprecedented times like we’re in today.”

159 Bowery is a vacant three-story mixed-use property located in one of Manhattan’s most-evolving corridors in the Bowery. Prior to the sale, the property was owner-occupied by Faerman Cash Registers, which has been operating its business on the Lower East Side since 1910.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Cushman & Wakefield’s Berry

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition