Who needs a free place to stay when you can buy a $12 dollar cocktail instead? The New York Post reports that the longstanding Bowery Salvation Army Chinatown Shelter will be closing its doors to be replaced by luxury condos and a new Ace Hotel. The development will effectively eliminate what is left of New York's Skid Row, a section of once-seedy Lower Manhattan that now houses the New Museum, Bowery Ballroom, and Whole Foods. 

The real estate, sold for a reported $30 million, will soon be gutted and revamped to accommodate New York's trendiest patrons. As for the shelter, it will be crossing the East River to Brooklyn before moving to Queens, eventually to settle in Syracuse. 

[via The New York Post]

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