250 Bowery, once slated to be a geothermal boutique hotel, spent a while in stalled site purgatory, but developer Zach Vella picked up the property with luxury condos in mind. Now the site is hitting all the regular new development milestones like its arrested development phase never happened. The building's teaser website is up, along with a close-up exterior rendering?and some details about pricing. The 20 1BR and 2BR units will start at $700,000. The 3BR to 5BR duplex penthouses, which have double-height ceilings and indoor and outdoor wood-burning fireplaces, will start at $2.7 million. We hear that the Morris Adjmi-designed project has the last tax abatement in the city. Not bad for a former foreclosure victim!
UPDATE: Reps tell us Adjmi & Andreoli is actually the architectural partnership on the project?it's not a solo Adjmi effort.
· Official website: 250 Bowery [250bowery.com]
· 250 Bowery coverage [Curbed]