Monday, March 12, 2018

217 E. 3rd St. sells for $5.1 million

There's a new owner for 217 E. Third St. between Avenue B and Avenue C.

Here's part of a news release via Cushman & Wakefield:

An undisclosed buyer acquired the property from the estate of Michael Mendez for $5.1 million. The mixed-use property consists of a vacant turn-key restaurant space on the ground floor and three free-market, floor-through apartments. The property is approximately 4,160 square feet above grade, not including a one-story structure situated at the rear of the site and separated by a small courtyard area.

Additionally, the property includes 4,700 square feet of air rights and a useable basement that houses mechanicals and a storage area.

Public records show that an LLC with a Pleasantville, N.Y., address is the new owner. The address matches up to management company Ogrin Associates, a longtime NYC landlord.

And does anyone know what that "one-story structure situated at the rear of the site" is used for?

The last tenant in the retail space was Corlear's NYC, a "Pre-Prohibition style bar executing vintage cocktails." They closed some time in early 2017.

The building arrived on the market last July with a $6 million ask.

1 comment:

Gojira said...

I have no doubt that this pretty little building, with the riotously overgrown trees and garden next door that is gorgeous in full bloom, will be torn down and something far more alien in concept will take its place. Because that's all developers seem to know how to do.