Gotham Organization buys LES development site for $12M where large project planned

Gotham Organization’s GO Norfolk LLC acquired an interest from Beth Hamedrash Hagogol of New York Restoration, Inc. valued at $12 million for 2 parcels, including the tax class church, synagogue, chapel (M1) at in Lower East Side. The deal closed on December 23, 2020 and was recorded on January 8, 2021. The signatory for the buyer was David L. Picket.

Gotham Organization along with Goldman Sachs Urban Investment Group is developing two towers at 55 Suffolk Street and 64 Norfolk Street. Plans for those buildings were filed in March and April of 2020.  The contract date was June 1, 2020, although the nonprofit owner of the synagogue has been working for years to sell the property. In July 2016 it signed an option with the Chinese-American Planning Council, in which the Council obtained an option to buy the property. That option was assigned to Gotham in 2017.  The synagogue was destroyed in fire in 2017.

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

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