Search
 

As BID Heats Up, Brokers Look to Chinatown

NEW YORK CITY-On the southeast corner of Canal and Lafayette streets, a centralized Chinatown property is a prime candidate for repositioning, ABS Partners says.

By Jacqueline Hlavenka | Updated on April 21, 2011

NEW YORK CITY-As Chinatown’s new Business Improvement District awaits a City Council blessing, landlords and agents are beginning to eye prime properties on Canal Street, brokers tell GlobeSt.com. New York City-based brokerage firm ABS Partners Real Estate LLC says they are looking to sell or long-term net lease an existing one-story property at 250 Canal, envisioning several repositioning alternatives for the site, such as commercial mixed-use, retail redevelopment or a hotel to be located on the southeast corner of Canal and Lafayette streets.

“Ultimately I think it will be very positive for the neighborhood,” Steven I. Hornstock, ABS’ co-managing partner and director of investment sales, tells GlobeSt.com. He describes the location as “highly visible” with “continual pedestrian and vehicle traffic,” given direct access to six subway lines and proximity to the Holland Tunnel and Manhattan Bridge.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.