michael fuchs

Cool Listings, Noho

190 Bowery, Germania Bank, Jay Maisel, Cool dwellings, Noho, Converted bank

After all the hoopla around RFR Realty’s purchase of Jay Maisel’s graffiti-covered home along the Bowery, word has now surfaced that its new owners are already looking to turn a profit on the six-story building—even before they’ve officially closed on it. The Commercial Observer reports that the building at 190 Bowery, which went into contract in September, is being listed by Massey Knakal Realty Services and marketing materials (dated November 19th) have already gone out.

Maisel previously owned the 1898 building, paying just $102,000 for it back in 1966 when it was abandoned. RFR’s co-founder and principal, Aby Rosen, is said to have spent six months persuading the photographer—who had been living in it for the last 45 years with his family—to sell the building on the basis that it was in “terrible shape” with “no heat”. Until Rosen’s offer, Maisel shot down all other proposals to buy him out. It’s estimated that RFR paid $50 million for the building. Condos were rumored to be on the way to the 37,000 square feet of space.

[Via CO]

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