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Gordon Lau Buys Four Lower East Side Buildings for $50M

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[The property at 149 Bowery]

Developer Gordon Lau of Lau Management has just purchased four buildings on the Lower East Side for $50 million, The Real Deal reports. According to records filed with the city on Friday, two of the four properties are located at 116 Elizabeth Street, and 132, 145 and 149 Bowery. Sold by Carl Herman Realty Corp. for $25 million, 116 Elizabeth and 132 Bowery are five- and three-story commercial properties located adjacent to each other at the rear. While 145 and 149 Bowery are both neighboring, five-story, mixed-use properties, sold by Fuss and Lieberman Realty Corp. for $25 million.

Gordon Lau is probably best remembered for evicting the artist group, Collective Hardware, from his property at 169 Bowery and subsequently adding a giant "rooftop tumor" to the structure. No word yet on what he plans to do with his new holdings.
· Gordon Lau picks up LES buildings for $50M [TRD]