Monday, November 9, 2015

Reader report: The northeast corner of Avenue A and 12th Street changes hands

An EVG reader writes in:

Just received a tenant notice letter that 194-196 Avenue A and 503-505 East 12th Street have been sold to Avenue A Corner Owner LLC c/o Dalan Management Associates. Marolda Properties was pretty terrible to deal with these last few years, wonder if Dalan Management will be better or worse.

I have a feeling that chances of us getting priced out next year are high. Womp.

Terms of the deal haven't apparently made public record just yet. (The LLC has an address in Nassau County.) And we don't know much about Dalan. Here's their bio:

"We are a real estate owner and manager focused on improving and adding value to multifamily and commercial properties. Our portfolio includes residential properties in Manhattan, Brooklyn, Queens, the Bronx, Washington DC, and Phoenix, Arizona. We also have commercial holdings in Manhattan."

As some of you may recall, a fire tore through the building in March 2006. The corner retail space housed the Raven from July 1998 through the time of the fire.

The building was, of course, rebuilt, though not without causing some suspicion among neighbors.

The storefront at No. 196 is currently for lease with an asking rent of $10,500 a month. Avenue A Wine & Liquor closed here back in August.


Anonymous said...

I live on 12th and was pissed off when a basement fire was the excuse to deconstruct a building which was not really damaged and replace it with this cheap looking thing. The original tenement looked just like the once on the south corner and had all the character the EV is know for.

Gojira said...

Another tool posing as a humanitarian suffering from Rafael Toledano Syndrome, claiming to ONLY be interested in "improving and adding value", not profit. Translation: we'll be getting rid of all the old tenants, 'upscaling' the apartments by tearing out every bit of individuality, putting up paper-thin sheet rock walls, laying cheap wood floors and installing crappy appliances, and offering the new "luxury" units to shallow shitheads at a price 10 times what the former tenants were paying. More and more of these egotistical narcissists fail to see the value of things that are perfectly fine the way they are, and wind up blithely destroying people's lives as a result, and the politicos who are supposed to be protecting their constituents from these vultures stand by and do nothing in the hopes of garnering campaign contribultions.

Shawn G. Chittle said...

Avenue A, east side, between 12th and 13th, is a sad little block. What's going on with 204 Avenue A? That building has been vacant for 5+ years.

Anonymous said...

Shawn, I actually emailed HPD about that building not too long ago (they own it). They said it was going to be used for affordable housing, but no details were given.

Anonymous said...

Hope nothing happens to the fantastic El Camion. That place is a gem