Iconic Manhattan Building '190 Bowery' Returns to Market

The distinctive building at 190 Bowery, once known for its enigmatic presence in Manhattan, has been listed for sale, marking its first appearance on the market in more than ten years. Aby Rosen, principal of RFR developer, is seeking a new owner for the six-story property, which encompasses 33,000 square feet of office space.

RFR acquired the building in 2015 from photographer Jay Maisel in a private, off-market transaction for $55 million. Maisel and his family had resided in the former Germania Bank building, constructed in 1898, for many years. Its imposing and somewhat eerie facade led some observers to believe the building was unoccupied.

Following the acquisition, Rosen initiated a restoration of the property, preserving much of its Beaux-Arts architecture while also integrating elements like lower-floor graffiti as a nod to the neighborhood's artistic heritage. The building's systems were also modernized.

Currently, the office floors and ground-floor retail spaces at 190 Bowery are fully leased. The office space is occupied by the "workplace experience" firm Industrious, with an asking rent of $95 per square foot. While specific sale figures have not been disclosed, the building's full occupancy and recent improvements suggest a price significantly higher than the $55 million RFR paid in 2015.

Rosen described 190 Bowery as "one of New York’s great landmarks," emphasizing the respect shown for its historical and architectural significance during the restoration. He stated that the sale presents an opportunity for a new owner to "write its next chapter."

Avison Young's James Nelson, who previously represented Rosen in the sale of 281 Park Ave. South, has been appointed to handle the listing of 190 Bowery. RFR's current portfolio in Manhattan includes prominent properties such as the Seagram Building at 375 Park Ave., 477 Madison Ave., and 15 State St.