Like they say, out with the old and in with the new.
In this city, where demand for housing is high and space for construction pretty slim, iconic city institutions so often give way to ritzy new residential towers.
Below, a look at what’s gone the way of the dinosaurs — and what’s replacing them.
Pearl Paint
Pearl Paint — the long-standing art supply store located at 308 Canal St. — shut the doors of its iconic red-and-white building in April 2014.
Its closing drew expected sadness and anger from the city’s artistic community, including street artist Gilf, who installed a reactionary piece at the site with “REST IN PEACE” candles and “GENTRIFICATION IN PROGRESS” barricade tape. Julian Schnabel, Nir Hod and Marilyn Minter are just some of the big-name artists known to have shopped here.
“As another NYC institution for the artistic community succumbs to the rampant corporatization of our great city, I gotta wonder what are we doing to stop it?” Gilf posted on Instagram at the time. “Turning an artistic haven into multi-million dollar condos is not my idea of [progress].”
Well, you can guess what happened. The building is now a luxury condominium conversion, 42 Lispenard.
Two 2,147-square-foot homes, which asked $4.25 million and $4.3 million, are in contract, StreetEasy shows. But last week a 2,516-square-foot duplex penthouse hit the market for $7.75 million. Inside, it’s got three bedrooms, Miele kitchen appliances and a large skylight 23 feet above the living area. Outside, a 1,500-square-foot roof terrace has an outdoor kitchen and shower.
Bowlmor Lanes
Just months after Pearl Paint closed down, Bowlmor Lanes near Union Square — among the city’s oldest bowling alleys — shut its doors after a 76-year run.
The lanes reportedly drew celebrities including Will Smith and former President Richard Nixon. Now high-profile architect Annabelle Selldorf is behind the design for the site’s replacement: a new 22-story, 52-unit condo at 21 E. 12th St.
Patrons were sad to see Bowlmor go. Though the company still has two other Manhattan locations, its owner Thomas Shannon referred to this Greenwich Village location as the brand’s “heart and soul.”
“This is the one that started it all. You can’t replace it,” Shannon told the downmarket tabloid Daily News in 2014.
But it wasn’t just avid bowlers — the development also drew some opposition from local preservationists, who claimed the height would be too tall and out of context with the surrounding neighborhood.
“While I’m always appreciative of opposite points of view, I really believe we are building something that will contribute to the community,” 21 E. 12th St. developer Billy Macklowe told the New York Times.
Sales at 21 E. 12th St. are moving fast. Its two penthouses — priced at $14.75 million and $16.5 million — are in contract, as are a gaggle of other apartments. Among the availabilities is a 1,006-square-foot one-bedroom with an open kitchen, wide-plank oak floors and spa bathroom fittings for $2.42 million, StreetEasy shows.
Streit’s Matzo Factory
In 2015, Streit’s matzo factory on the Lower East Side sold its longtime home to real estate developers for $30.5 million. Streit’s four converted brick tenements, where workers produced the Passover staple for 90 years, will give way to a glassy condo called 150 Rivington.
This new seven-story building will house 45 apartments, whose sizes span 543 square feet to more than 1,600 square feet. Sales are now live; a three-bedroom, 1,464-square-foot penthouse with nearly 13-foot ceilings and views of One World Trade Center asks $3.8 million.
Streit’s didn’t sell its facility due to the pressures of gentrification, reports say, but rather because it was becoming tough to do business in an old property. Their ovens were slowing down and the building didn’t have a loading dock, according to the Times.
Whatever the reason, Streit’s departure from the neighborhood was also met with dismay.
“It was part of the Lower East Side ethos — so it’s sad,” Laurie Tobias Cohen, executive director of the Lower East Side Jewish Conservancy, told the Times. “It’s part and parcel with everything else that’s been happening in terms of real estate.”
5Pointz
Construction is under way at the former site of 5Pointz. Demolition of the Long Island City haven for graffiti artists for residential use was first announced in 2011.
Street artists traveled to this Queens hot spot from all over the world to tag the former factory’s famed exterior. The building’s owner, Jerry Wolkoff, granted artists permission to show off their work for free, but ultimately, in the name of development, decided to demolish the crumbling property to build two high-rise residences.
Street artists were furious about the plans — so enraged that a group of them filed suit in federal court aiming to halt the work, as The Post reported. But a judge tossed the complaint in the fall of 2013.
The existing building was demolished in 2014. All the iconic graffiti is gone; the view from the 7 train is now much less colorful.
For now, details of the forthcoming homes at 22-24 Jackson Ave. are scant. Wolkoff, who previously told The Post he would make space in the new development for street art, did not return a message seeking further information. But approved Department of Buildings (DOB) filings show plans for 977,086 square feet of residential space across a whopping 1,115 units.
Roseland Ballroom
“Raise your glass to Roseland,” Lady Gaga told her audience at an April 7, 2014, concert at Midtown’s now-former Roseland Ballroom. That show would be the final one at the famous venue. “Cheers to Roseland and the last time the joint gets high!”
A year later, the DOB approved permits for the development of a 59-story tower at the site, with roughly 500,000 square feet for residential use.
The specifics of the apartments going up on Roseland’s grave, at 242 W. 53rd St., are also not immediately available. Units are not listed, but Architizer notes the CetraRuddy-designed structure will hold roughly 426 luxury units — from studios to a four-bedroom penthouse with views over Central Park. As for amenities, residents reportedly will get a roof veranda with an outdoor pool and lounge space.