Back on Monday, an EVG reader told us that 194-196 Avenue A and 503-505 East 12th Street had been sold.
The Commercial Observer provides more details on the deal that saw Dalan Management and real-estate investing firm Avenue Realty Capital buy the portfolio of four mixed-use buildings for $16.8 million.
Per the CO:
“We are excited to control four buildings on a prime corner of Avenue A and 12th Street in the East Village,” Daniel Wrublin, a principal at Dalan, said in a prepared statement. “The properties are in good condition, but we have substantial improvements planned to take them to the next level.”
Yes, "the next level." As the reader, who is also a resident in one of the buildings, told us: "I have a feeling that chances of us getting priced out next year are high. Womp."
El Camion and Double Wide Bar & Southern Kitchen occupy the retail spaces.
No. 196 housed Avenue A Wine & Liquor, which closed back in August. That storefront is for lease with an asking rent of $10,500 a month.