Giant Residential Complex to Hit the Lower East Side

Unless you live on the Lower East Side near the river, you may not have known there was a Pathmark down there on Cherry Street. It's a large, low building among housing projects and residential towers. Now, Curbed.com reports that the supermarket is about to turn into a giant development. The lot is for sale for $250 million and the sellers are suggesting it could be used to build one or two large residential towers (which would have a fabulous view of Brooklyn and the East River, though not necessarily the best view on the street) of about 50 stories. That's big news for the neighborhood, especially since it's rumored Donald Trump is interested. With the city's planned revamp of East River Park, could this become a hot new area? Could it provide a much-needed hipster shunt from the hemorrhaging Ludlow and Essex area? Could Manhattan actually have found a new neighborhood to create? We can't wait for all the real-estate blogs to begin inevitable naming contests! LES Pathmark Site: $250 Million, 50+ Stories of Fun [Curbed]

Posted 11/01/07 in Daily Intel : Developing

Tags: developing, donald trump, east river, east river park, hipsters, lower east side, pathmark, real estate