Archive for June, 2014

Real Estate Boom Coming to Canal Street

351 Canal Street purchased by developers to be retail space and luxury apartments

351 Canal Street purchased by developers to be retail space and luxury apartments

As Manhattan continues to march into the future, real estate development is heading full speed ahead. Take for example last year’s purchase of a 25,000 square-foot, five-story building at 351 Canal Street. The group of developers, led by Elli Ausubel, partners with Uriel Cohen White Bay Group, invested close to $25 million last year to purchase the property, and is planning on adding another $17 million to renovate it, to create a ground floor space for a major retail outlet, while the upper floors will be turned into luxury rental apartments.

Ausubel and his group have made a pretty reasonable bet that what is now one of the lowest rental districts south of Soho will continue to rise as the neighborhood becomes ever more desirable.

David Eisen, the broker who arranged the financing at Eastern Union Funding for the group explained how the group of developers chose the location:

“They believe they can secure a marquee national retail tenant for this space,” said Eisen. “There are a lot of people banking right now that Canal is going to be the next big shopping corridor.”


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LGBT Activist DeLarverie Mourned at Village Memorial Service

Storme DeLeverie

Stormé DeLarverie

The Greenwich Village Funeral Home was the venue for a crowded memorial service held in honor of Stormé DeLarverie who died on Saturday, May 24. She was 93 years-old.

The service took place several days after her passing, on Thursday night. Her death was exactly one month after she was recognized for her contribution to LGBT rights with a lifetime achievement award at the Brooklyn Community Pride Center. Sharing in the honor was Edie Windsor, the plaintiff in the suit that overturned the Defense of Marriage Act.

“She’s somebody who has this rich and beautiful history,” commented Erin Drinkwater, executive director of Brooklyn Community Pride Center. He was referring to her role in the Stonewall riots as well as the work she engaged in years later helping to provide meals to people dying from AIDS.

“She fought back and then never turned her back to the community,” Drinkwater added. “She’s just phenomenal. She was a true hero to the movement.”

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