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July 17, 2009

Conversion Planned for 201 Front Street

201-Front-Street-0709.jpg
As DumboNYC reported earlier in the week, plans were recently approved by the Department of Buildings to convert the historic warehouse at 201 Front Street (aka 54 Bridge Street) in Dumbo into 159 residential units; the scaffolding started going up on Tuesday. The four-story building was originally built by a shoe manufacturing company. We're particularly curious to know how the developer, who paid $22,912,500 for the building in 2005, got all the artists out.
201 Front Street Building Activity [DumboNYC] GMAP P*Shark DOB




Posted by Brownstoner at 10:00 AM | Comments (11)
Categories: Development, Dumbo, Vinegar Hill

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Comments

Wow, look at those windows. These should make killer lofts.

Posted by: lowintheheights at July 17, 2009 10:27 AM

wow, look at those windows. Thay should make real drafty apartments.

Posted by: Petebklyn at July 17, 2009 10:35 AM

how they got the artists out? really, I forgot the name but there are lawyers that specialize in this (no joke) lots of harassment too. I think this it the building my friend was kicked out of, I will have to check.

Posted by: johnsingersargent at July 17, 2009 10:42 AM

to get them out...just like any other commercial tenant, right? Don't renew their leases.

Posted by: Petebklyn at July 17, 2009 10:57 AM

Depends. It is far more complicated if they were Artists in Residence under the Loft Law. That would not be a commercial lease.

http://www.grimblelaw.com/Resources/lofttenant.html

Posted by: Carol Gardens at July 17, 2009 11:11 AM

there were folks in there for over twenty years, not all artist i understood there were only six tenants over a year ago, not many artists
one guy was really holding out... and you sure they are all out?

Posted by: BK realestate veteran at July 17, 2009 12:17 PM

Are you sure that's the right picture? It does not match what is on the DUMBONyc site. Check the windows. Maybe your pic is 220 Water? Wonder what's going on with THAT building?

Posted by: Carol Gardens at July 17, 2009 12:57 PM

windows are a little different down on the corner--right angled further down Front

Posted by: brownstoner at July 17, 2009 1:19 PM

I see that now!

Posted by: Carol Gardens at July 17, 2009 1:23 PM

Not to be unduly alarmist, and this is premature given that construction hasn't started, but anyone interested in purchasing one of these lofts should insist on doing an interior air test for volatilized mercury during warm weather. Historically, a lot of mercury was used in shoe manufacturing, I think to lubricate the machinery or something. In any event, it may have spilled into the floor-ceiling areas and be lurking there (as happened in at least one building I'm aware of in Tribeca). It is impossible to get out without removing the floors, and if in large enough quantities could cause health problems as we know from the fish issue.

Posted by: supersleuth at July 17, 2009 2:45 PM

I'm one of the people they got out. Here's the short answer:

Some tenants were covered by the Loft Law, and some had some other less powerful legal rights. The legal battles had been going on since before the current owners bought the place.

The current owners settled with those covered by the Loft Law in one big settlement and the remainder were bought out with various smaller settlements over time as the legal process ran its course.

The current owners did not resort to strongarm tactics or harassment although they certainly weren't kidding around in negotiations either.

I lived there a long long time and enjoyed it tremendously. It was an adventure and I was sorry to see it end. You'd all slit your wrists (or mine) if you totalled up what I paid and what I got in terms of space -- and how much I netted in profit as a renter.

The old Dumbo was great fun, but the city does not stand still, which is a thing I like about it. By some combination of courage and luck, most of the 220 Water tenants were able to assert our rights on the way out.

If Josh Gutman had bought it, on the other hand...

Posted by: Ex220Water at July 17, 2009 8:37 PM

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