New Condos at 260 Bowery

Nov. 24, 2015 — When you’re dealing in real estate, you learn to wait. The folks at Lyco Investment, the company that owned 260 Bowery, a property between East Houston and Prince Streets, have been on hold since 2008 when they bought the former tenement building. Now their patience has been rewarded, reports the Commercial Observer. According to Brian Segall of RKF, the company that was hired seven years ago to sell the three-story building at 260: “…with the continued evolution of the Bowery, [we] decided to wait for the market to mature before finally moving forward.” Maturation has apparently arrived: Premier Equities has purchased the site for $10 million on November 18 and plans to build an eight-story luxury condominium on the site. Says Segall: “The boom of activity on the Bowery and Lower East Side, with the string of recent investments, new retailers, hotels and cultural institutions entering the market, made this the right opportunity for both the seller and the buyer.”