Tuesday, May 27, 2014

6 St. Mark's Place now asking $16.75 million

Barcade is looking to open an outpost of their craft beer bar-retro video game arcade at 6 St. Mark's Place, as Gothamist first reported last week.

A notice arrived on the door last week noting that Barcade is seeking a liquor license during the June CB3/SLA committee meeting.

Meanwhile, turns out the whole building is for sale, again apparently…

[EVG file photo]

We spotted a listing for No. 6 back in August 2012, when the asking price here between Second Avenue and Third Avenue was $14.5 million.

The listing is back, though this time it is for $16.75 million Per Massey Knakal:

An elevatored, five story plus lower level mixed-use building located on the south side of Saint Mark’s Place between 2nd Avenue and 3rd Avenue. The ground floor is currently vacant but is expected to be leased out shortly. The 2nd floor is leased to an art gallery and cafe through November 2018 who pays $11,000/month and 20% of the real estate taxes. Floors 3-5 are occupied by a karaoke lounge who has a lease in-place through September 2031. The karaoke lounge is currently paying $28,000/month and 50% of the total real estate taxes. This is an excellent opportunity for an investor to receive a steady stream of cash flow from the in-place units in a rapidly growing neighborhood.

Public records show that the building just changed hands for $13.875 million in January.

Previously on EV Grieve:
Report: Barcade eyeing new outpost on St. Mark's Place

6 St. Mark's Place on the market for $14.5 million

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