Ari Zagdanski’s Kinsmen Property Group has filed demolition permits for a 15,000-square-foot Nolita assemblage at 156-166 Bowery. The site, previously intended for development by Brandon Miller’s Real Estate Equities Corporation (REEC) in a $50 million deal, has seen little progress since REEC filed plans in 2022 for a 73,000-square-foot mixed-use building and secured a $60.5 million loan. The buildings remain vacant, and it’s unclear if REEC still holds the lease. Kinsmen acquired part of the property and air rights for $23.5 million in 2016.
156-166 Bowery
