June 2, 2020
Cushman & Wakefield arranged sale of 159 Bowery, a 4,252-square-foot mixed-use property on Manhattan’s Lower East Side. The final sale price was $5,000,000.
A Cushman & Wakefield team of Andrew Berry, Michael DeCheser, Bryan Hurley and Charlie Gravina represented the seller, Brian Faerman.
“This was the first sale of the property in over 50 years,” said Berry. “The building sold for more than $1,175 per square foot or $479 per buildable square foot, proving the strength of the Lower Manhattan submarket, even in unprecedented times like we’re in today.”
159 Bowery is a vacant three-story mixed-use property located in one of Manhattan’s most-evolving corridors in the Bowery. Prior to the sale, the property was owner-occupied by Faerman Cash Registers, which has been operating its business on the Lower East Side since 1910.
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