Wednesday, August 10, 2016
[EVG file photo]
Early last summer we heard rumors that Red Square, the residential complex at 250 E. Houston St. between Avenue A and Avenue B, had been sold.
And we didn't hear much more about that...
Now Lois Weiss at the Post is reporting that the 12-floor building (with the statue of Lenin on the roof) is in contract to be sold to Dermot Co. for roughly $100 million, according to anonymous sources.
Red Square, which features 130 rental units, also has 23,000 square feet of retail space. According to the Post, the retail space was not part of the deal. There are four vacancies in this strip of shops, which include a Dunkin' Donuts, Subway (sandwich shop), Sleepy's (for the rest of your life), China Town Chinese restaurant and a FedEx Office Print & Ship Center.
According to Streeteasy, there aren't any current rentals available. A look at recent rentals show a studio going for $2,350, and a two-bedroom unit fetching $5,200.
The building, the creation of Michael Rosen, opened in June 1989.
Previously on EV Grieve:
Rumors: Red Square has been sold