Historic Lower East Side Paint Store Building Demolished

The original M.Schames & Son paint store building, a fixture on Essex Street for generations, has been razed for redevelopment.

Apr. 6, 2026 at 11:35pm

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A high-end, photorealistic studio still-life photograph featuring a collection of vintage paint cans, brushes, and other hardware from the Schames paint store, arranged elegantly on a clean, monochromatic background and using dramatic lighting to convey a sense of the business's history and legacy.The preserved signage and artifacts from the historic Schames paint store serve as a poignant reminder of the Lower East Side's rapidly changing landscape.NYC Today

The original M.Schames & Son paint store building, a longtime fixture on lower Essex Street on Manhattan's Lower East Side, has been demolished after the business relocated years ago. The building, which dated back to the early 1800s, was purchased in 2024 by a new owner who has now completed demolition of the property, clearing the way for redevelopment of the site across from Seward Park.

Why it matters

The demolition of the Schames paint store building marks the end of an era for one of the oldest businesses on the Lower East Side, a neighborhood that has seen rapid changes and redevelopment in recent years. The loss of this historic structure is symbolic of the ongoing transformation of the area, as longstanding local institutions give way to new development.

The details

The Schames paint store had operated out of the 3 Essex Street building for decades before relocating to Delancey Street in 2010, after the demolition of a neighboring building destabilized the structure. The upper floors of the Essex Street building had not been occupied since a fire in the 1940s. In 2024, a new owner purchased both 3 and 5 Essex Street for $5.3 million and has now completed the demolition of 3 Essex. The new owner is listed as 'Paint Store LLC' with a mailing address at the offices of Building Equity Management.

  • The Schames paint store relocated to Delancey Street in 2010 after the building was destabilized.
  • The building at 3 Essex Street was purchased by a new owner in 2024 for $5.3 million.
  • Demolition of the 3 Essex Street building was completed in 2026.

The players

M.Schames & Son

A longtime paint store business that operated out of the 3 Essex Street building for generations before relocating to Delancey Street in 2010.

Paint Store LLC

The new owner of the 3-5 Essex Street properties, listed as having a mailing address at the offices of Building Equity Management, a firm that manages many properties across the city.

Building Equity Management

A property management firm that oversees the 3-5 Essex Street properties on behalf of the new owner, Paint Store LLC.

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What they’re saying

“These colorful letters sat right across from Seward Park and make up what many tell us is their favorite NYC sign. Although the business relocated to Delancey Street in 2010, the sign remained on Essex because it was too large to fit on top of their new storefront. While we all sometimes wish our streets would stay stuck in time forever, we are extremely honored and relieved to have this piece of New York City history in our collection and active sign shop, where we plan to repair the piece with metal reinforcements and remounting broken letters.”

— New York Sign Museum

What’s next

New building permits have not yet been filed for the 3-5 Essex Street properties, so the specific redevelopment plans for the site remain unclear.

The takeaway

The demolition of the historic Schames paint store building on Essex Street is a symbolic loss for the Lower East Side, as longstanding local businesses and institutions continue to give way to new development in a rapidly changing neighborhood. The preservation of the iconic Schames sign by the New York Sign Museum provides a small but meaningful connection to the area's past.