Monday, March 11, 2013

The 'East Village3' is ready for you; for that 'Industrial Chic feel'

[March 2012]

Back last spring, GRJ, a fund co-founded and co-managed by brothers Graham and Gregory Jones, closed on the 78-unit, three-building package of 50-58 E. Third St. for $23.5 million.

In April, 17 residents of the buildings received letters that stated, in part: "It has been agreed with the impending new owners that your lease will not be renewed and that you will be expected to vacate at the expiration of your lease." More such letters followed.

The residents banded together and formed a tenants group; local politicians came out to offer support during a rally on May 7. However, as one former resident put it, the Big Real Estate Machine was too great to overcome. In the end, we're not sure how many of the longtime tenants ended up leaving the three buildings.

Heavy construction began in the fall... and now, the first of the renovated units are available to rent this month. Per the Streeteasy listing:

"The Walk-Up Reinvented"

BE THE FIRST TO LIVE IN EAST VILLAGE LUXURY. Situated in the Heart of the East Village, the Three Buildings at 50-58 East 3rd Street (at 2nd Avenue) have been dubbed the "East Village3" aka The #EV3. These newly renovated units boast superior finishes throughout. The contrast of exposed brick, high-gloss cabinets and stainless appliances give the building an Industrial Chic feel. Each bedroom is equal sized and every roommate has their own bathroom, with private storage above.

Absolute brand new gut renovation to the entire building. From top to bottom these apartments are designed for optimal living. The apartment features include, Oak Floors with a dark Walnut Stain, stacked Bosch Washer/Dryer, LG Fridge, GE Dishwasher and Microwave, imported Cesar Stone counter tops from Italy, white high gloss cabinets, high hat lighting, 3 Real Full Bathrooms, waterfall sinks in the bathroom, extra storage space, crown moldings, exposed brick, video intercom, secure key fob entrance, plus the building is under 24/7 video surveillance for extra security.

Here's what that looks like...

There are three, three-bedroom units available, ranging in price from $4,900 to $5,150.

Previously on EV Grieve:
Reader report: Three apartment buildings sold on East Third Street

Advocate for East Third Street buildings moving to Washington Heights

More about the lease renewals at 50, 54 and 58 E. Third St.

Tenants at 50, 54 and 58 E. Third St. banding to together in face of building sale

More drama at 50-58 E. Third St.; 'heavy construction' awaits tenants who stay

And now the renovations really begin at 50-58 E. Third St.


Anonymous said...

It's still putting (a really expensive) lipstick on a pig.

Gojira said...

Oh goody, yet more soulless, generic, ugly crap designed to attract yet more room temperature IQ woo-ers. Just what the neighborhood needs.

Anonymous said...

These apartments look nice.

Anonymous said...

Hideous kitchens. Ceasarstone is made in Israel, not Italy.

Martin S said...

Looks like a big tradeoff in order to get to 3 bedrooms. The living area looks tiny. It shares a space with the kitchen, which lacks a hood-fan. A quick analysis shows evidence of photoshopping (no surprise since there doesn't seem to be windows in the living area). Seems to lack storage/closets. No mention of the current construction debris.

Anonymous said...

I saw these apartments with the broker and there is a window in the living room, although you cannot see it in the picture. I did not rent here, but it's certainly an upgrade from all the other crappy east village apartments that are on the market.

Anonymous said...

I used to live at 58 about 10 years ago and paid app. $2200 for a very very small 2-bedroom. At the time, I thought that was a crazy amount to pay (i wish i could pay that now). My windows basically looked into a pigeon cave. The pig's lipstick sure is pretty, but that pigeon cave is still part of my nightmares.

Anonymous said...

re: Anonymous "but it's certainly an upgrade from all the other crappy east village apartments that are on the market."

Really? A quick search on Streeteasy for 3 bedroom apartments in that price range reveals several listings that look vastly superior to this one. Not sure if you're serious or somehow connected to the listing/landlord.

Even with a window the living room is still tiny and it's still not separate from the kitchen. What was the storage situation when you saw it? The condition of the common areas? Recent photos show that the common areas look like they could be in Aleppo.

Anonymous said...

Ah, that reminds me. I need to take GRJ and Safeguard Realty Management to court for refusing to give me my security deposit back after I moved out a couple months ago. This listing will make the process much easier.

"Industrial Chic" = too cheap to insulate interior walls. Three bedrooms before having three bathrooms was already a pretty tight fit in this building. But hey, have at it stupid kids with stupid rich parents. Enjoy cramming your little twin bed in there and listening to your neighbors breathe through your cool brick exposed walls!

RA said...

This is the same model that Shaoul crammed in to buildings he redid, although his are worse: even tinier bedrooms, some without windows and all with only enough space for a small bed but no other furniture. But, yeah, they have the wine fridge, although smoke alarms go off all the time from lack of ventilation in those common-space kitchenettes.

Anonymous said...

The Occupy East 4th reblogged a piece from the NY Observer about what a rip off these units are.

Isabel said...

And only a few doors down from the Hells Angels...they must be feeling hemmed in these days. I wonder what the rents are elsewhere on the block. I paid $450/mo for a 1 bedroom at 75 E 3rd in the mid 80s. If I'm not mistaken the building visible at the extreme right in the photo was still an empty lot at the time.