" Where have all of the pawn shops, brothels and flop houses gone? The Bowery Manhattan's Hottest Property
The Bowery, the neighborhood formerly known as an undesirable melting pot of homeless street dwellers, and low-end retail establishments is getting a major face-lift. New real estate developments in the area are giving it a completely different vibe and turning it into one of the most up-and-coming areas in the city.
A Chrystie Place is a brilliant example of the significant change. Bordering Christy Street, E. Houston & Bowery, A Christy Place is a mixed income residential and retail complex developed by Avalon Bay, William Jackson Ewing & Phipps Houses that will house an 88,000 square foot Whole Foods as well as a community swimming pool and gym. The New Museum, whose design will incorporate Japanese architecture, will be housed on Bowery as well; and The Surface Hotel, just east of the Bowery on Rivington Street with its modern glass structure, is in the midst of construction.
Although the face of the area is changing, some of the former flavor is still intact, with popular establishments like Katz's deli, Russ & Daughters, Economy Candy and Yonah Shimmel, maintaining their hold on the community. The Bowery is becoming one of those perfect New York neighborhoods, one that combines a dash of new luxury, with the essence of the old.
The emergence of the neighborhoods surrounding the Bowery is another example of how Lower Manhattan, south of 14th street, continues to grow and develop to meet the growing needs of a new generation of prosperous people who love the downtown Lifestyle. notes Benjamin Fox of Newmark New Spectrum, the Country's leading retail real estate firm."