February 7, 2015 – New York City realtors are calling it one of the greatest returns on investment in the city’s history. A graffiti-covered building in the Bowery has been sold for $55 million by a photographer who bought it for just $102,000 in 1966 and turned into his home.
Jay Maisel sold the six-story former bank building to a developer who plans to convert the property into condos, offices, or an art gallery. The ornate structure, built in 1898, has long been used as a canvas for street artists to the point that many considered it a derelict building.
Link: Gothamist
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