Last month word got out that 190 Bowery, that massive building on the corner of Bowery and Spring, was on the market. The owner, Jay Maisel, purchased the building for $102,000 in the 1960s, and has pretty much kept all 72 rooms for himself and family ever since (though at one point Roy Lichtenstein rented out a studio space there). The exterior has become a tribute to old New York—up top to the late 1800s, when it was built, and at street level a testament to a dirtier old town. Tagged with graffiti, and with an abandoned look, it's one of the few spots on Modern Day Bowery that will take you back to the decades before, when nearby 315 Bowery was still CBGB, and not an upscale clothing boutique.
Today, however, the NY Times reports that the street's landscape is in for another big change: the building is about to be sold. And it will become condos.
RFR Holdings' Aby Rosen told the paper that developers have been eyeing the six-story Renaissance Revival structure for years, and, “The building is in terrible shape. There’s no heat, Jay lives in just a small area of the building, another winter is coming, and it was time." It took him six months to talk Maisel in to selling—"When you own a property for that long, and you are not a real estate professional, it takes a lot of convincing," Rosen said.
The deal isn't done just yet, and Rosen hasn't discussed a purchase price (it's said to be worth around $50 million), but he did note that "the building could be converted for retailing at the base with condominiums above, or possibly offices or even an art gallery." Or maybe even a bank? That's what the 6-story limestone building started off as in the 1890s. [via Bowery Boogie]