Wednesday, August 4, 2010

Seventh Street hostel now ready to become condos or single-family home

Back in April, we wrote about the city shutting down The Village Inn, the hostel that has been operating at 27 E. Seventh St. near Cooper Square. The city said that there were illegal hotel rooms in this residential building. Reps from the Village Inn -- one of four in the city operated by the NYC Hostel Connection -- claimed in a Facebook post that they were getting harrassed by the city.

Anyway, apparently all this has been resolved: The building hit the market yesterday for $6.85 million. Per the listing:

26' WIDE & VACANT - This incredibly large East Village townhouse was previously used as a hostel and now it is delivered vacant. There are many possibilities for this structurally sound and restored building. With its low taxes and zoning of R7-2, the building would be perfect to house a non-profit organization, but could also be converted to floor-through condos, a rental building or a spacious single-family home. This rare building presents an exciting opportunity for both users and investors.

Probably more exciting for investors, wouldn't you say...

Previously on EV Grieve:
The Village Inn hostel on Seventh Street closed by city

1 comment:

Dan said...

I work on this block. It was always a bother to traipse past Eurotrash smoking cigs on the stoop. I don't miss the hostel. I'd personally like to see it house another small business—drum up some more lunch traffic for the under-renovation (and hidden gem) East Village Thai.