By: Hadassa Kalatizadeh
Developer CBSK Ironstate has ambitions to construct a 21-story office tower in NoHo, where Mayor Bill de Blasio’s administration is working to rezone. As reported by Crain’s NY, on Thursday, the real estate firm filed plans with the city for permission to build a 283-foot-tall project spanning about 100,000 square feet at the Bowery-East Fourth Street intersection. Morris Adjmi Architects has been filed as the architect of record for the project.
This NoHo neighborhood has been awaiting a large project at 358 Bowery since before the fall of 2019, when CB Developers bought an estimated $59.5 million share in the property from Eric Goode, the creator of the Bowery Hotel and the Waverly Inn. In December, SK Development and Ironstate had signed a ground lease at the property. CBSK Ironstate is a real estate development joint venture of CB Developers.
The site had long been the home of NoHo’s well-established BBar & Grill, opened back in 1993 but currently shut due to the ongoing Coronavirus pandemic. In December, the development team filed for permits to demolish the single-story building on the property. CBSK Ironstate’s new filing for 358 Bowery includes a community facility at the site of a projected 21-story office building.
Meanwhile, the City has announced its intent to rezone parts of SoHo and NoHo to add more affordable housing to the neighborhoods. About 56-blocks of SoHo and NoHo may be rezoned to add more residential space to Manhattan —45 blocks in SoHo and 11 blocks in NoHo. The effort would add up to 3,200 new housing units to the neighborhoods over a 10-year period, roughly 800 of which could be affordable units, as per estimates from Mayor de Blasio’s administration.
As per Crain’s, CBSK Ironstate’s site at 358 Bowery has been identified on the city Planning Department’s draft scope of work for the process, as a potential development site for the rezoning, and noted that it could possibly accommodate 110 housing units. Notwithstanding, Ironstate spokesman George Cahn said that the developers’ current plans adhere to the site’s existing zoning rules, and that they do not plan to alter the project based on the city’s proposed rezoning changes.
Lower Manhattan community organizations are opposing the city-led rezoning, saying new residential towers would clash with the artsy historical district. Rivals criticize the mayor for undertaking the change in his last year of office, and claim the rezoning would mostly benefit rich real estate developers.