Barry Lipsitz pays $5M to Brian Faerman for property in Lower East Side

Barry Lipsitz through the entity 3 B Bowery LLC paid Brian Faerman $5 million for 159 Bowery in Lower East Side. The deal closed on May 21, 2020, and was recorded on May 26, 2020. The transaction consists of 1 parcel, including the tax class retail building with apartments above (K4). The property is 5,220 square feet. The parcel(s) have total development potential of 5,986 square feet.
The average sale price per square foot is $835.

Lipsitz signed as a “member” of the owner entity. The sale went into contract February 24, 2020. The Faerman family has owned it since 1975.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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