The three-story structure, located between Rivington Street and Delancey streets, will become a seven-story, seven-unit building. The development, designed by Dan Ionescu Architects, will have 1,617 square feet of commercial space and 9,995 square feet of residential space, according to a plan exam application filed September 6th.
The developer is London-based Seagram Properties. The project will have a new roof, a new elevator, retail on the ground level and be topped by a duplex on the 6th and 7th floors.
The property, which touts two floor-through loft apartments, traded for $3.4 million in February, The Lo-Down reported. Its neighbor at 86 Clinton Street, a five-story tenement with 18 apartments, was also snapped up by Seagram Properties for $4.5 million. Dan Ionescu Architects is renovating several studio apartments and combining one residence with an existing retail unit on the first floor, according to a permit filed June 20th.
Both 86 Clinton and 88 Clinton buildings were owned by the estate of William Gottlieb, whose formidable real estate portfolio of more than 100 properties had an estimated value of $1 billion. The two deals were brokered by Misrahi Realty.
Photo: Misrahi Realty