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.