Itzhaki Properties retained to broker sale of the Bowery Commercial Building at 144 Bowery, Manhattan

Itzhaki Properties (IPR B&H, Inc.) is retained on an exclusive basis to broker the sale of 144 Bowery. The three-story commercial building, located between Broome and Grand Streets, stands on a lot consisting of 15,570 s/f of development rights. While being in close driving distance of the Williamsburg bridge, 144 Bowery is one block from the Bowery J,Z and Grand St B,D subway stations. "The property is situated on an emerging commercial corridor and given the favorable market dynamics it is a great opportunity for groups looking to pursue development opportunities in the area; we sense that there is going to be an increase of transaction activity in the region," said Ryan Winchester regarding the property. Located in a prime location of lower Manhattan; 144 Bowery is surrounded by the neighborhoods of Little Italy, China Town, Bowery, NoLita and Soho. Boasting a large amount of tourist and local commerce, this section of lower Manhattan is full of opportunity and potential for investors. "The property carries a strong value-add component and given the current landscape of the Lower East Side, the highest form of value for the property lies in its development potential," said Yagnesh Vangala, director of investment sales at Itzhaki Properties. The property is listed at $10.2 million.