Wednesday, May 11, 2011

Your chance to buy the building that housed the (briefly) notorious 205 Club

Here we are on 205 Chrystie St. at Stanton, where this five-story building is now on the market for $4.85 million. Per Massey Knakal:

5 story mixed-use building on the southwest corner of Chrystie and Stanton Streets. There is vacant commercial space on the ground floor and basement, with 13 apartment units above, of which 7 are free market and 6 are rent stabilized. This is the former home of a two story club / cabaret. The residential portion of the building is renting at an average of $35/SF. The area has recently been upzoned to a C6-3A from a C6-1, increasing the available FAR. The air rights are intact.

There's probably a lot of history in these walls... but the building is most likely known in recent times for 205, the now-shuttered hotspot that ran afoul of the State Liquor Authority in 2008.

As Daily Intel noted in November 2006: "205, the de facto after-party spot for downtown's skaters, bar owners, and artists (not to mention Serge Becker's entourage of models), is such a hipster destination that they recently turned away Keanu Reeves."


Ken from Ken's Kitchen said...

Increasing the available floor area ratio (FAR) allows the developer to increase the overall size of the building, right?

Ken from Ken's Kitchen said...

I ask because EV Grieve has bolded the part about air rights. All this suggests that the residents of 205 Christie St could be facing a tear down situation.

EV Grieve said...

@ Ken from Ken's Kitchen

I figured the new owner would just pop a few more floors on top of the existing building.. that has been all the rage....