Developer Cape Church Associates purchased 149-151 Church Street in April for $35 million and has plans to tear the building down and replace it with luxury condos. Those plans have resulted in a bunch of sad quotes from the residents of the building's 12 apartments and the owners of the eight small businesses that occupied the ground-floor space, all of whom are getting kicked out. "When I moved here Tribeca was a very different place, filled with artists," said one 21-year resident of the building. "We've basically all been priced out, and replaced by people in finance." She plans to move to Bushwick, "where there aren't $18 sandwiches."
Local favorite Taste of Tandoor, which has occupied the same space for 16 years, closed last week. "We don't want to go, our customers don't want us to go, but we had no choice," co-owner Mohammad Hossain said. "We don't know what we'll do next — rent is so expensive everywhere." A representative for Cape Church Associates said the company would "be happy to talk to the owners about coming back once we have worked out building plans," but Hossain is not optimistic. "This neighborhood is just for millionaires now," he said.
We bet those condos are going to be real nice, though.
· Residents and Shops Booted From Building That Will Be Torn Down for Condos [DNAinfo]
· 149 Church Street coverage [Curbed]