Another One Bites the Dust

Manhattan's list of endangered species keeps growing as the real estate bubble keeps expanding. The list now includes gas stations, SRO Hotels, affordable apartments, mom & pop businesses of every stripe and, most recently, parking garages. OK, the one at the northeast corner of Mulberry and Kenmare Streets, where Chinatown and Little Italy rub up against each other, was not a thing of beauty. But at least it got cars off the streets. And at least it wasn't what's coming in to fill the hole in the ground where the parking garage recently stood.

Yes, a luxury condominium. This one will be built by DHA Capital, which purchased the parking garage and land for $50 million in June 2015, Bowery Boogie reports. The building will have 55,000 square feet of retail and residential space, including 35 condos priced from $1.7 to $12 million. Singer-songwriter Lenny Kravitz's firm, Kravitz Design, will design its first Manhattan interiors in the new structure, which will include "unique natural stone" elements.

Finding a place to park is as difficult as finding a place to buy gas in this town.  And let's not get started on the subject of finding an affordable place to live.