CBSK Ironstate expands Nolita development footprint

The development team CBSK Ironstate increased the zoning lot for its development project at 358 Bowery, at the corner of Fourth Street, on property long occupied by the B Bar & Grill.

In the latest move, the developers, a venture of Michael Barry’s Ironstate Development, Charles Blaichman’s CB Developers and Abe and Scott Shnay’s SK Development, merged their growing zoning lot with the condominium building at 354 Bowery and through that acquired 2,343 square feet of development rights for $878,640, or $375 per square foot.

The zoning lot declaration now has six parcels, although most of them are only for the air rights.

The developers acquired the main parcel at 358 Bowery through a 99-year ground lease signed in September 2019. It’s unclear what the developers planned to build, but some have speculated it would be best suited as an office building.