What is believed to be the first new residential condominium building on the Bowery north of Houston Street, is spearheading the revitalization of the NoHo neighborhood. The building, which will include such amenities as outdoor showers and hot-tubs, is bringing oversized loft apartments to an area that has been relatively untouched by the waves of new residents and businesses that have swept into nearby Soho, Greenwich Village and -- more recently -- the East Village.

Located at 57 Bond Street on the corner of the Bowery, the new project is expected to top out in October of this year, and is slated to be completed by May, 2003.  It is being developed by a subsidiary of Alchemy Properties, Inc. of Manhattan: Bowery NoHo, LLC.

Meltzer/Mandl Architects of Manhattan designed the $7 million, 32,000 square-foot building, which sits on a corner site, giving the planned apartments tremendous light and exposure. 57 Bond Street will contain 10 loft-type residences, priced from $1,335,000 to $1,970,000 and ranging in size from 1,470 sq. ft. to 2,512 sq. ft.  Every residence will feature private balconies or terraces that range up to 1,134 sq. ft. The six-story project will also house over 5,000 square feet of street-front retail space.

The two penthouse units, which are 1,470 sq. ft. and 1,704 sq. ft. in size, will feature wood burning fireplaces and private rooftop terraces of 1,134 sq. ft. and 966 sq. ft, respectively. One of the most extravagant features of the penthouses will be their four-person hot tubs and outdoor showers.

A line of custom bath fixtures will be unveiled in 57 Bond Street. The line, which is exclusive to Alchemy Properties, will also be present in the company's future projects. The Alchemy line of fixtures includes 54" Italian custom made double basin sinks, with teak tables and satin nickel hardware; as well as custom made 72"-long tubs. Separate shower units will be outfitted with Mr. Steam steam showers with stone floors.

The loft residences will feature 11-foot ceilings, marble and Pietra Cardosa stone, first grade maple floors, living rooms with two-oversized floor-to-ceiling glass walls, Poggenpohl Kitchens, and stainless steel appliances that include SubZero refrigerators and wine coolers, Bosch dishwashers and washers and dryers, and Viking gas ranges and ovens, with Prestige hoods.

All of the residences will have access to a common rooftop area of 1,000 sq. ft., with an outdoor shower for sunbathers. Personal basement storage facilities with an excess of 100 sq. ft. per unit, are to be provided to all residences.

The stylish residential lobby will feature an elegantly arced wall, with custom metal paneling in a luminous finish that matches the building's exterior finish. The opposite wall of polished wood accommodates a series of recessed niches with concealed lighting.  "We want to create a sleek residential building that brings stylish state of the art luxury to the neighborhood. At 57 Bond Street, that translates into large terraces, expansive floor plans and the highest quality materials," said Kenneth Horn, president of Alchemy Properties.

November 8, 2003

Bowery boom
High-end loft condos next to CBGBs are now for sale ñ and that's just the start

By TAL PINCHEVSKY

THE historic Bowery district in lower Manhattan has its share of landmarks befitting a gritty and, at times, dirty neighborhood. "In the 1970s, there was no legal living here," says artist Sandy Gellis, a Bowery resident for the past 25 years. "You had to hide all the plants, and there was no residential garbage pick up."

All of which makes it interesting that luxury condominiums, ranging in price from $1.455 million to $2 million, have opened up next door on Bowery and Bond Street, just down the street from the venerable rock club CBGBs and an NYU dorm.

No less than three other lots in this area are being converted into residential buildings.

There are a number of factors, besides urban cachet, that account for developers' sudden taste for the Bowery. With its convenient, downtown location, it appeals to a variety of demographic groups. "It's becoming a very fashionable and popular area, as SoHo becomes more commercial. It's closer to Midtown and closer to the Village," says Kenneth Horn, president of Alchemy Properties, the developer of the 57 Bond Street condos. "And there hasn't been that much new housing lately, quite frankly."

Right now the condo building looks remarkably out of place among the Bowery's gritty historic buildings and facades. That's partly because it's built out of allucobond, an aluminum composite.

The insides ó the building contains 10 high-end loft condominiums and two commercial lofts ó are pretty cutting-edge, too. Each condo has either a balcony or terrace, 11-foot-high ceilings and steam showers.

And with new restaurants, bars and cultural attractions opening, including a new museum next door to the Bowery Mission homeless shelter, this appears to be the future of the Bowery.

Other spots undergoing development include lots on Second Avenue and Second Street; Bowery and East Third Street; and Bond Street between Bowery and Lafayette. The Cooper Union, a private college located just north of the Bowery, is in the process of selling lots along the Bowery, including the space recently occupied by B Bar on Bowery and East Fourth Street.

The long dormant garden on Bowery and Houston will also be renovated in the near future.

For some longtime residents, such as Gellin, the emerging mosaic of condos, bars and restaurants is troubling, but not unforeseen. "I know change is inevitable, but these real estate people are really wanting to alter it without considering it," says Gellis. Yet the artist still sees a silver lining. "But it's kind of nice; they're putting trees on the block. I always wanted that."

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