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Salvation Army Sells Bowery Property For $30M

NEW YORK CITY-The community center building is slated to become a boutique hotel and possibly condos in this weekly wrap-up of deals.

By Rayna Katz | Updated on March 07, 2014

NEW YORK CITY-Eastern Consolidated has arranged the over $30 million sale of 223-225 Bowery, owned by the Salvation Army. The underutilized, 10-story building, which spans 55,000 square feet, is a former single-room occupancy hotel that will be converted into an Ace Hotel and possibly luxury residential condominiums. The Salvation Army’s Chinatown Corps Community Center will relocate to Brooklyn’s Chinatown. Co-chairman Robert Freedman and senior managing Director Jonathan Plotkin of Colliers International represented the seller in the transaction. The attorneys for the buyer were Andrew Albstein, and Doran Golubtchik of Goldberg Weprin Finkel Goldstein LLP.

Kalmon Dolgin Affiliates has arranged a 25,000 square-foot lease for Four Seasons Packaging Corp. at the 63,937-square-foot 70 Onderdonk Ave. in the Williamsburg section of Brooklyn. Kalmon Dolgin Affiliates brokers Weising (Bill) Chang and Joseph Nicholas represented the tenant, Four Seasons Packaging Corp., and the landlord, 64 Onderdonk Avenue LLC, in the deal. 

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