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US EDITION Thursday August 15 2013 As of 856 PM EDT
Comments MORE IN NEWYORKshyREAL ESTATE raquo
Available to WSJcom Subscribers
NY REAL ESTATE RESIDENTIAL August 15 2013 856 pm ET
Activity Gives Orchard Street New BloomSmall Businesses Larger Developments Take Places of Garment Stores
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TOP STORIES IN NEW YORK
By KAYA LATERMAN
Restaurant owner Wilson Tang and his partner and chef Jonathan Wu were lookingfor a place to open their new modern Chinese eatery called Fung Tu a few monthsago when a chance came up to lease 22 Orchard St
It was a no brainer for me to jump on it right away said Mr Tang the owner ofChinatowns Nom Wah Tea Parlor who grew up a block away from Orchard on AllenStreet Ive literally dreamed about owning a business on this block It really has a lotof character
Once home to dozens of garmentstores the threeshyblock stretch ofOrchard Street between Grand andDivision streets is seeing a flurry ofdeals spanning from small entrepreneursrenting storefronts to largeshyscaleproperty sales and development
The activity in the area which sits on theborder of Chinatown and the Lower EastSide includes a boutique hotel underconstruction two large properties beingturned into residential and retail spaces
and the opening of two more art galleries and Alexander Olch a mens tie shop Inaddition owners are looking for tenants for five groundshyfloor retail spaces on the rentalmarket and three large mixedshyuse buildings up for sale
Its like everyone keyed into the fact that this stretch was underutilized at the sametime said Massey Knakal broker Michael DeCheser
Many of the streetshylevel stores arearound 25 feet wide by 100 feet deepaccording to Mr DeCheser Not allbusiness owners can envision workingin a very narrow space but narrowwasnt an issue for Monya Rowe who iscurrently relocating her gallery from
Mark Abramson for The Wall Street Journal
Properties at 57shy63 Orchard St were bought inJuly with plans to convert them into highshyendcondominiums and boutiques
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Middle RdPalm Beach FL 334805900000010 Bedrooms 115 BathsRare more than 4shyacre oceanfrontcompound in the heart of PalmBeachs estate section Two mainresidencesMore Details raquo
Central Park WNew York NY 10023105000003 Bedrooms 3 BathsWith 50shyfeet fronting Central Park thisgrand 9shyroom home offers a graciouslayout accentuated by magnificentMore Details raquo
Greenwich StNew York NY 1001319500000Bedrooms 0 BathsHISTORY AND BUILDER Positionedon a 25 x 60 lot on the southwestcorner of Desbrosses andGreenwichMore Details raquo
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Chelsea After losing her lease on asecondshyfloor space on West 22ndStreet Ms Rowe said she wantedmore visibility and looked for groundshyfloor space
My new place has high ceilings and Ifell in love with the old goldshyandshyblackwindow display said Ms Rowe whoplans to open her new gallery on Sept 8with a group showing of gallery artists Ifound a space on one of the best blocks
down here as far as galleries go Theres a great sense of community andcamaraderie here she added
Tanja Grunert who with her partner Klemens Gasser is also moving their galleryfrom Chelsea for a Sept 20 opening agrees Its so energetic down here and muchmore artistshyoriented she said
The Lower East Side BusinessImprovement District counts more than100 galleries in its territory with 15 juston Orchard between Grand andDivision
Things change so quickly weve had toupdate our gallery map quarterly insteadof yearly noted Katie Archer thedistricts business services managerwho helps coordinate theneighborhoods popular retail and gallery
block parties
More eating spots are in the area Din Yates remembers when there was nowhereelse to eat on the block when he opened Cheeky Sandwiches in late 2009 Nowrestaurant Fat Radish and oyster bar LeadBelly are on Orchard Street in addition tothe planned opening in late September or early October of Fung Tu by Messrs Tangand Wu
Orchard Street had and has that vibe that fits me Mr Yates said via email Its stilla neighborhood even with the growth
Larger developers are also feeling theenergy Waterbridge Capital and theJangana family together bought threecontiguous properties at 57shy63 OrchardSt for $27 million in July and plan toconvert them into highshyendcondominiums and boutiques
The largest construction undertaking atthe moment is the renovation of the oldJarmulowsky Bank a 12shystory buildingon the corner of Orchard and Canal thatis a city landmark DLJ Real EstateCapital Partners is combining the
building and an adjacent property to create a 100shyplusshyroom boutique hotel slated toopen in midshy2014
We always look at neighborhoods that is in transition and emerging said AndrewRifkin managing partner at DLJ Its a trendy neighborhood but more for theadventurer and explorer and we like that aspect of it
Mark Abramson for The Wall Street Journal
More restaurants are joining CheekySandwiches on Orchard Street
Enlarge Image
Mark Abramson for The Wall Street Journal
34 Orchard St is slated to become the MonyaRowe Gallery
Enlarge Image
Enlarge Image
Sothebys International Realty Place your own WSJ ads
Darius McCollum Sentenced in Queens Courtfor Stealing BusA man with 29 transitshyrelated arrests over the past30 years was sentenced to 2shyandshyashyhalf to fiveyears in prison on Thursday for stealing acommuter bus
City Will Appeal Judges StopshyandshyFriskRuling FridayThe city will appeal a federal judges recent rulingimplementing a courtshyappointed monitor to overseethe New York Police Departments use of stopshyandshyfrisk
Judge Will Rule on Gay Marriage in New Jersey inSeptember
Jasper Johns Former Assistant Charged With Stealing HisUnfinished Works
Fans Oppose a Lifetime Ban for AshyRod Are Split onSuspension
See AllRSS Feed
MARKETPLACE
More in NewYorkshyReal EstateOrchard Street is Blooming With New Activity
World NewsGet NonshyStop Breaking News Right to Your Desktop With TheNews ToolbarNewsaddonreviewscom
Stock quote amp chartsRealshytime stock prices and news plus commodity quotes andforexwwwadvfncom
Make $500Day using blogsLearn how to make $500Day using blogs Free TrialhttptinyurlcomBlogDude
Realshytime coverage of greater New York
JOIN THE DISCUSSIONBe the first to comment
MORE INNewYorkshyReal Estate raquo
Community rules
JOURNAL COMMUNITYAdd a Comment
Track replies to my comment
CLEAR POST Login with Facebook
A few blocks away from the hotel isSeward Park a sixshyacre cityshyowned sitethat is slated for development with a mixof residential retail and office buildings
Other projects also could be coming Large properties currently for sale in the areainclude 314 Grand St a fourshystory commercial building for $32 million The upperfloors which boast 15shy20shyfoot ceilings could be turned into residential units and apenthouse could be added on the roof At 32 Orchard St a threeshystory mixedshyuseproperty is up for sale for $55 million while a fiveshystory mixedshyuse building at 55shy57Canal St is on the market for $47 million
All the different activity leads some to think that Orchard Street could do with atrendier moniker like SoHo or Dumbo This area is ripe for a rename said MasseyKnakals Mr DeCheser
A version of this article appeared August 16 2013 on page A18 in the US edition of The Wall StreetJournal with the headline Activity Gives Orchard Street New Bloom
Warren Buffett ConfessesWarren Buffetts Shocking Confession Will Change your Investing StrategywwwMarketTrendSignalcom
Mortgage Rates Hit 250White House Program Cuts Up to $1k off Monthly Payments (290 APR)wwwSeeRefinanceRatescom
The End Of ObamaThis looming scandal could ruin the 44th President and disrupt theStansberryResearchcom
Top 12 Stocks to Buy NowPanel of nations leading analysts just announced their favorite pickswwwTopStockAnalystscom
All comments will display your real name Start typing your comments here
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Commercial Real Estate Ads
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Jobs at WSJ Copyright copy2013 Dow Jones amp Company Inc All Rights Reserved
Editors Picks
Subscribe
Rising Stars of YouTubeLearn to Cope With FansFame
Recappers The New TVGuides
Butler ReprocessingHistory With Feeling
Penn State EmployeesProtest Wellness Program
House Cat + Teddy Bear =The Olinguito
Whats This
Featured Properties An Advertising Feature
Middle RdPalm Beach FL 334805900000010 Bedrooms 115 BathsRare more than 4shyacre oceanfrontcompound in the heart of PalmBeachs estate section Two mainresidencesMore Details raquo
Central Park WNew York NY 10023105000003 Bedrooms 3 BathsWith 50shyfeet fronting Central Park thisgrand 9shyroom home offers a graciouslayout accentuated by magnificentMore Details raquo
Greenwich StNew York NY 1001319500000Bedrooms 0 BathsHISTORY AND BUILDER Positionedon a 25 x 60 lot on the southwestcorner of Desbrosses andGreenwichMore Details raquo
See More Properties raquo
Popular Now
How Penn StateFootball Survived
Opinion NoonanWhat We Lose ifWe Give UpPrivacy
Vicious BacklashShakes OneEgyptian Town
Penn StateEmployeesProtest WellnessProgram
Gmail OverhaulHas MarketersSaying Ack
Show 5 More
One Small Step forEuro Zone
1
2
3
4
5
Chelsea After losing her lease on asecondshyfloor space on West 22ndStreet Ms Rowe said she wantedmore visibility and looked for groundshyfloor space
My new place has high ceilings and Ifell in love with the old goldshyandshyblackwindow display said Ms Rowe whoplans to open her new gallery on Sept 8with a group showing of gallery artists Ifound a space on one of the best blocks
down here as far as galleries go Theres a great sense of community andcamaraderie here she added
Tanja Grunert who with her partner Klemens Gasser is also moving their galleryfrom Chelsea for a Sept 20 opening agrees Its so energetic down here and muchmore artistshyoriented she said
The Lower East Side BusinessImprovement District counts more than100 galleries in its territory with 15 juston Orchard between Grand andDivision
Things change so quickly weve had toupdate our gallery map quarterly insteadof yearly noted Katie Archer thedistricts business services managerwho helps coordinate theneighborhoods popular retail and gallery
block parties
More eating spots are in the area Din Yates remembers when there was nowhereelse to eat on the block when he opened Cheeky Sandwiches in late 2009 Nowrestaurant Fat Radish and oyster bar LeadBelly are on Orchard Street in addition tothe planned opening in late September or early October of Fung Tu by Messrs Tangand Wu
Orchard Street had and has that vibe that fits me Mr Yates said via email Its stilla neighborhood even with the growth
Larger developers are also feeling theenergy Waterbridge Capital and theJangana family together bought threecontiguous properties at 57shy63 OrchardSt for $27 million in July and plan toconvert them into highshyendcondominiums and boutiques
The largest construction undertaking atthe moment is the renovation of the oldJarmulowsky Bank a 12shystory buildingon the corner of Orchard and Canal thatis a city landmark DLJ Real EstateCapital Partners is combining the
building and an adjacent property to create a 100shyplusshyroom boutique hotel slated toopen in midshy2014
We always look at neighborhoods that is in transition and emerging said AndrewRifkin managing partner at DLJ Its a trendy neighborhood but more for theadventurer and explorer and we like that aspect of it
Mark Abramson for The Wall Street Journal
More restaurants are joining CheekySandwiches on Orchard Street
Enlarge Image
Mark Abramson for The Wall Street Journal
34 Orchard St is slated to become the MonyaRowe Gallery
Enlarge Image
Enlarge Image
Sothebys International Realty Place your own WSJ ads
Darius McCollum Sentenced in Queens Courtfor Stealing BusA man with 29 transitshyrelated arrests over the past30 years was sentenced to 2shyandshyashyhalf to fiveyears in prison on Thursday for stealing acommuter bus
City Will Appeal Judges StopshyandshyFriskRuling FridayThe city will appeal a federal judges recent rulingimplementing a courtshyappointed monitor to overseethe New York Police Departments use of stopshyandshyfrisk
Judge Will Rule on Gay Marriage in New Jersey inSeptember
Jasper Johns Former Assistant Charged With Stealing HisUnfinished Works
Fans Oppose a Lifetime Ban for AshyRod Are Split onSuspension
See AllRSS Feed
MARKETPLACE
More in NewYorkshyReal EstateOrchard Street is Blooming With New Activity
World NewsGet NonshyStop Breaking News Right to Your Desktop With TheNews ToolbarNewsaddonreviewscom
Stock quote amp chartsRealshytime stock prices and news plus commodity quotes andforexwwwadvfncom
Make $500Day using blogsLearn how to make $500Day using blogs Free TrialhttptinyurlcomBlogDude
Realshytime coverage of greater New York
JOIN THE DISCUSSIONBe the first to comment
MORE INNewYorkshyReal Estate raquo
Community rules
JOURNAL COMMUNITYAdd a Comment
Track replies to my comment
CLEAR POST Login with Facebook
A few blocks away from the hotel isSeward Park a sixshyacre cityshyowned sitethat is slated for development with a mixof residential retail and office buildings
Other projects also could be coming Large properties currently for sale in the areainclude 314 Grand St a fourshystory commercial building for $32 million The upperfloors which boast 15shy20shyfoot ceilings could be turned into residential units and apenthouse could be added on the roof At 32 Orchard St a threeshystory mixedshyuseproperty is up for sale for $55 million while a fiveshystory mixedshyuse building at 55shy57Canal St is on the market for $47 million
All the different activity leads some to think that Orchard Street could do with atrendier moniker like SoHo or Dumbo This area is ripe for a rename said MasseyKnakals Mr DeCheser
A version of this article appeared August 16 2013 on page A18 in the US edition of The Wall StreetJournal with the headline Activity Gives Orchard Street New Bloom
Warren Buffett ConfessesWarren Buffetts Shocking Confession Will Change your Investing StrategywwwMarketTrendSignalcom
Mortgage Rates Hit 250White House Program Cuts Up to $1k off Monthly Payments (290 APR)wwwSeeRefinanceRatescom
The End Of ObamaThis looming scandal could ruin the 44th President and disrupt theStansberryResearchcom
Top 12 Stocks to Buy NowPanel of nations leading analysts just announced their favorite pickswwwTopStockAnalystscom
All comments will display your real name Start typing your comments here
Enlarge Image
Email Print Order Reprints
Wall Street JournalFacebookTwitter LinkedInFourSquareGoogle+YouTubePodcastsRSS Feed AppStoreBack to Top
Customer ServiceCustomer Center
New Live Help
Contact Us
WSJ Weekend
Contact Directory
Corrections
PolicyPrivacy Policy
Data Policy
Copyright Policy
Subscriber Agreementamp Terms of Use
Your Ad Choices
AdvertiseAdvertise
Place a Classified Ad
Sell Your Home
Sell Your Business
Commercial Real Estate Ads
Recruitment amp Career Ads
Franchising
Advertise Locally
Tools amp FeaturesApps
Newsletters and Alerts
Graphics amp Photos
Columns
Topics
Guides
Portfolio
Old Portfolio
MoreReprints
Content Partnerships
Conferences
SafeHouse
Mobile Site
News Archive
Jobs at WSJ Copyright copy2013 Dow Jones amp Company Inc All Rights Reserved
Editors Picks
Subscribe
Rising Stars of YouTubeLearn to Cope With FansFame
Recappers The New TVGuides
Butler ReprocessingHistory With Feeling
Penn State EmployeesProtest Wellness Program
House Cat + Teddy Bear =The Olinguito
Sothebys International Realty Place your own WSJ ads
Darius McCollum Sentenced in Queens Courtfor Stealing BusA man with 29 transitshyrelated arrests over the past30 years was sentenced to 2shyandshyashyhalf to fiveyears in prison on Thursday for stealing acommuter bus
City Will Appeal Judges StopshyandshyFriskRuling FridayThe city will appeal a federal judges recent rulingimplementing a courtshyappointed monitor to overseethe New York Police Departments use of stopshyandshyfrisk
Judge Will Rule on Gay Marriage in New Jersey inSeptember
Jasper Johns Former Assistant Charged With Stealing HisUnfinished Works
Fans Oppose a Lifetime Ban for AshyRod Are Split onSuspension
See AllRSS Feed
MARKETPLACE
More in NewYorkshyReal EstateOrchard Street is Blooming With New Activity
World NewsGet NonshyStop Breaking News Right to Your Desktop With TheNews ToolbarNewsaddonreviewscom
Stock quote amp chartsRealshytime stock prices and news plus commodity quotes andforexwwwadvfncom
Make $500Day using blogsLearn how to make $500Day using blogs Free TrialhttptinyurlcomBlogDude
Realshytime coverage of greater New York
JOIN THE DISCUSSIONBe the first to comment
MORE INNewYorkshyReal Estate raquo
Community rules
JOURNAL COMMUNITYAdd a Comment
Track replies to my comment
CLEAR POST Login with Facebook
A few blocks away from the hotel isSeward Park a sixshyacre cityshyowned sitethat is slated for development with a mixof residential retail and office buildings
Other projects also could be coming Large properties currently for sale in the areainclude 314 Grand St a fourshystory commercial building for $32 million The upperfloors which boast 15shy20shyfoot ceilings could be turned into residential units and apenthouse could be added on the roof At 32 Orchard St a threeshystory mixedshyuseproperty is up for sale for $55 million while a fiveshystory mixedshyuse building at 55shy57Canal St is on the market for $47 million
All the different activity leads some to think that Orchard Street could do with atrendier moniker like SoHo or Dumbo This area is ripe for a rename said MasseyKnakals Mr DeCheser
A version of this article appeared August 16 2013 on page A18 in the US edition of The Wall StreetJournal with the headline Activity Gives Orchard Street New Bloom
Warren Buffett ConfessesWarren Buffetts Shocking Confession Will Change your Investing StrategywwwMarketTrendSignalcom
Mortgage Rates Hit 250White House Program Cuts Up to $1k off Monthly Payments (290 APR)wwwSeeRefinanceRatescom
The End Of ObamaThis looming scandal could ruin the 44th President and disrupt theStansberryResearchcom
Top 12 Stocks to Buy NowPanel of nations leading analysts just announced their favorite pickswwwTopStockAnalystscom
All comments will display your real name Start typing your comments here
Enlarge Image
Email Print Order Reprints
Wall Street JournalFacebookTwitter LinkedInFourSquareGoogle+YouTubePodcastsRSS Feed AppStoreBack to Top
Customer ServiceCustomer Center
New Live Help
Contact Us
WSJ Weekend
Contact Directory
Corrections
PolicyPrivacy Policy
Data Policy
Copyright Policy
Subscriber Agreementamp Terms of Use
Your Ad Choices
AdvertiseAdvertise
Place a Classified Ad
Sell Your Home
Sell Your Business
Commercial Real Estate Ads
Recruitment amp Career Ads
Franchising
Advertise Locally
Tools amp FeaturesApps
Newsletters and Alerts
Graphics amp Photos
Columns
Topics
Guides
Portfolio
Old Portfolio
MoreReprints
Content Partnerships
Conferences
SafeHouse
Mobile Site
News Archive
Jobs at WSJ Copyright copy2013 Dow Jones amp Company Inc All Rights Reserved
Editors Picks
Subscribe
Rising Stars of YouTubeLearn to Cope With FansFame
Recappers The New TVGuides
Butler ReprocessingHistory With Feeling
Penn State EmployeesProtest Wellness Program
House Cat + Teddy Bear =The Olinguito
Wall Street JournalFacebookTwitter LinkedInFourSquareGoogle+YouTubePodcastsRSS Feed AppStoreBack to Top
Customer ServiceCustomer Center
New Live Help
Contact Us
WSJ Weekend
Contact Directory
Corrections
PolicyPrivacy Policy
Data Policy
Copyright Policy
Subscriber Agreementamp Terms of Use
Your Ad Choices
AdvertiseAdvertise
Place a Classified Ad
Sell Your Home
Sell Your Business
Commercial Real Estate Ads
Recruitment amp Career Ads
Franchising
Advertise Locally
Tools amp FeaturesApps
Newsletters and Alerts
Graphics amp Photos
Columns
Topics
Guides
Portfolio
Old Portfolio
MoreReprints
Content Partnerships
Conferences
SafeHouse
Mobile Site
News Archive
Jobs at WSJ Copyright copy2013 Dow Jones amp Company Inc All Rights Reserved
Editors Picks
Subscribe
Rising Stars of YouTubeLearn to Cope With FansFame
Recappers The New TVGuides
Butler ReprocessingHistory With Feeling
Penn State EmployeesProtest Wellness Program
House Cat + Teddy Bear =The Olinguito
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