Not long after the New Museum planted its flag on the Bowery 2.0, it snapped up its next-door neighbor for just over $16 million. The former restaurant supply building at 231 Bowery was eyed for office and storage space for the museum, but the deal seemed like it was a preemptive move by the New Museum to protect it from the monster it helped create?a gentrified, glamorous Bowery suddenly very appealing to real estate developers. After all, a big hotel next door would not be good for the views from the museum's Sky Room. Now the New Museum is attempting to lease out the ground-floor retail space at 231 Bowery, and it's interesting to see how the space is being marketed.
The brochure is an illustrated guide to the transformation of the Bowery, celebrating the demise of institutions like CBGB and the influx of high-end tenants like Whole Foods and the New Museum itself. Mix this with news of the Bowery's $20,000-per-month apartments and you're likely to get, well, five EV Grieve Bowery gentrification posts in a row.
· Property Profile: 231 Bowery [CB Richard Ellis]
· Bowery Gentrification Watch: New Museum Spreading [Curbed]