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Historic Lower East Side bank building once slated for 12-story addition wants $20M

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Early this year, the city approved a 12-story addition to the building with 38 apartments

Via Christopher Bride/PropertyShark

Plans to add a 12-story topper to the Lower East Side’s historic Provident Loan Bank building have been sidelined for now. The owners of the bank the building, who wanted to bring the addition to the site at 225 East Houston Street, have now put the bank building up for sale.

Cushman and Wakefield is marketing the property for $20 million, and the development plans come as part of the deal. Bowery Boogie first reported on the sales listing. A new owner could decide to stick with these plans or bring something different to the site, so it’s not yet clear if that original Rogers Architects plan for the site will survive.

In January this year, the owners of the site received approval from the city’s Department of Buildings to move forward with the 12-story addition, which would bring 38 new apartments to the neighborhood. The bank building would be restored and serve as a retail space within the new development.

In 2015, local residents began campaigning to get the over 100-year-old building landmarked, but the city’s Landmarks Preservation Commission did not deem it worthy at the time. It’s not yet clear if the sale of the site will resurrect the landmarking efforts, but Curbed has reached out to the LPC to check on any impending plans.