25 Bleecker St. Returns

Owner Envisions a Seven-Story Replacement for 25 Bleecker St.

25-bleecker-stThe owner of the existing three-story structure in Landmarked NoHo, David Smilow,  is proposing to tear it down and build a seven-story building taller than the seven-story structures to its east and west and four stories taller than its historic counterpart next door.

In a meeting called by Mr. Smilow and conducted by his attorney Frederick A. Becker, half a dozen neighbors assembled to hear about a new plan for 25 Bleecker St., which began with the news that because of structural issues, he would be appealing to the Landmarks Preservation Commission to demolish the Landmarked structure.  Well, OK, we’ve heard that one before, so what was the plan to replace it?  The announcement of the seven-stories and the hastily produced rendering which details the building height (without mechanicals) at 88′ came next.

Then came the part where neighboring owners could express a preference for:

  • A BSA application for a three-units of residential and groundfloor commercial with which they would reduce the 28′ rear yard to 19′
  • An as-of-right office building with groundfloor commercial, no rear yard.

Two of the directly adjacent buildings have rear yards that would be severely affected should the existing 28′ semi-shared rear yard disappear.  And, the great irony here is that 41 Bond, in its community negotiations, agreed to a 35’rear yard to reduce the impact on their very same adjacent neighbors.  It is now grown and verdant and much appreciated by everyone.

But, the best part happens after the meeting.  A neighbor who had missed the meeting happens by and says,”Did you see the Cushman and Wakefield listing today for 25 Bleecker?”  It seems on the very day of the meeting Mr. Smilow decided to put the property on the market.  Should someone purchase it, any agreement with neighbors would be mute.

To quote the Cushman & Wakefield listing:

The building is ripe for conversion as current ownership already has LPC approval for a redesigned façade and mixed-use conversion of the existing SF.  Alternatively, a purchaser could seek to maximize the buildable envelope by seeking a residential variance for a condo development as seen at nearby projects such as 40 Bond Street and 41 Bond Street….Asking $6.5 million.

Stay tuned.  This isn’t over, yet.

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