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SPURA Megaproject May Devour Embattled Essex St. Building

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Lower East Siders have been trying to landmark the 1890-built Eastern Dispensary Building for years; meanwhile, its owners have been trying to sell their property at 75 Essex Street, ripe for a residential conversion, and cash in on the area's rising prices, for about that amount of time. The "redevelop" side may have an edge, though, now that Bowery Boogie reports that developer Taconic Partners just might have offered owner Shalom Eisner a heck of a lot of money for the building. UPDATE: A rep for the developer reached out with the following statement: "We are not considering a purchase at this time. We explored the idea over the summer but did not see a way forward with the parameters the owner was seeking."

Now Taconic is one of the developers behind megaproject Essex Crossing, which will utterly transform the long-vacant Seward Park Urban Renewal Area, the largest swath of undeveloped land in Manhattan below 96th Street. A first rendering of the area's proposed Warhol museum includes the building in its current form, but if a sale—priced, perhaps, anywhere from $15 to $25 million—goes through, it's possible that the unprotected building or its lot could be razed or otherwise incorporated into the plans. Preservationists' efforts, which are currently stalled, will doubtless rekindle after hearing the news.
· Rumor: Essex Crossing Developer Taconic Partners Offering Buyout to 75 Essex Street Owner [BB]
· All SPURA/Essex Crossing coverage [Curbed]
· All 75 Essex Street coverage [Curbed]