The former Bowery Savings Bank at 130 Bowery Street is being put up for auction after years of financial struggles. The 33,000-square-foot property, listed on the National Register of Historic Places, will be available for bidding until February 4, with an auction scheduled for February 11 if multiple bids are received. Meridian Capital Group is handling the marketing of the building, which was acquired by Michael and David Marvisi in 2017 for $33 million. The property has faced numerous setbacks, including missed rent payments from its tenant, Capitale NYC, and defaults on a $12 million loan from Wells Fargo. After failed sale attempts, including a potential deal with SC Holdings in 2023, the lenders have taken control of the property and can bid up to $23.4 million.
The former Bowery Savings Bank
