The Pathmark at 227 Cherry Street finally closed its doors in October, five years after neighbors held a Save Our Supermarket rally to keep it open. Word was that a large-scale residential development would finally come to the site, and Crain's says that development will be built by none other than Gary Barnett, of Extell and One57 fame. Extell is in contract to buy the site for somewhere in the vicinity of $175 million. The zoning could accommodate close to 1 million square feet in the spot, and Crain's speculates that Extell will build rentals, but that's all we know so far. (Have additional knowledge? The tipline is eager to hear it.) Once upon a time, renderings for the site offered up two possible designs, two 50-story towers or a single 55-story one.
· Apt. tower likely to sprout on LES Pathmark site [Crain's]
· 227 Cherry Street coverage [Curbed]