If comedy equals tragedy plus time, we're not quite ready to laugh about the plans for 119 Orchard Street just yet. The Real Deal reports that the four-story building, home to the Fine & Klein Handbags store since the '60s (the building was vacated and put on the market last year), was purchased by LES-based SAS Property Management for $4.22 million over the summer. They will tear the building down and replace it with a 40-room boutique hotel, joining the Thompson LES, it's across-the-street neighbor the Orchard Street Hell Building and 163 Orchard Street in a cluttered field of planed hotels on the three-block patch of Orchard between Delancey and Houston Streets. In all, the Lower East Side probably has half a dozen more hotels in various stages of construction and planning. How will they all succeed? Friends, we've stopped asking those types of questions, lest our brains explode all over the screen. Let's get back to 119 Orchard for a sec. Forty rooms sounds pretty big for a mid-block site surrounded by century-old low-rise tenements, no? Indeed! In fact, an application on file calls for an extension from four to 10 stories, though the DOB disapproved it (temporarily?) in July. Can we hustle with that rezoning, fellas?
· Fine & Klein store site of new hotel [Real Deal]