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Delayed Bowery Hotel Project Changes Hands

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It's been a long time since we saw any signs of life at 250 Bowery, once the planned home of an eco-friendly hotel designed by the folks at FLAnk Architects. The complete absence of activity at the site over more than a year was interrupted only by a foreclosure suit against developer Peter Moore Associates in March 2009. Now, according to city records, the site has changed hands for $9,272,250. The buyer is 250 VE LLC, care of the Vella Group, a developer that's already picked up one struggling Peter Moore property. We've called Vella for details on what they plan for the property, so we'll update when we hear back.

UPDATE: Zach Vella tells us the building will become an eight-story mixed-use residential and retail building, with construction to begin in five months.
· Sale: 250 Bowery [ACRIS]
· 250 Bowery coverage [Curbed]

250 Bowery

250 Bowery, New York, NY 10012