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Jarmulowsky Bank Building Could Become Offices, Not Hotel: Sources

The landmarked Lower East Side building is being restored

Construction is still ongoing at the former Jarmulowsky Bank Building on the corner of Orchard and Allen Streets, but the intended function of the completed, fully restored building may be changing. Bowery Boogie reports that "a reliable source" says that DLJ Real Estate Partners is now seeking partners to transform the landmarked building into an office space rather than a hotel; apparently the developer emailed industry insiders confirming the switch.

A 10,000-square-foot addition that would house offices was already in the works, but until recently, plans called for turning the gorgeous old building into a 100-room luxury lodging (that may or may not have been helmed by Taavo Somer). The building is currently being restored to its former glory, including bringing back its 50-foot cupola and polishing up some of its original details.