Wednesday, April 25, 2012

Today is the deadline to bid on the IHOP building


Back on Jan. 3, we pointed out that 235-237 E. 14th St., which houses the IHOP, was on the market for $14.5 million. The Massey Knakal listing noted that IHOP was paying $45,833 per month on a 10-year lease.

According to the listing, the deadline to bid on the property is today. So get that bidding paperwork in order! (And sorry for the short notice!)

To refresh your memory, here are details on the building:

The property, situated on the north side of East 14th Street between Second and Third Avenues, contains 17 low income housing units and a retail space. The building, erected in 1988, has approximately 4,300 square feet of retail space on the ground floor and approximately 18,019 square feet of residential floor area on floors 2 through 7.

And a new addition to the listing since January...

This IHOP location is one of the top performing in the country.

Previously on EV Grieve:
One explanation for the existence of IHOP on East 14th Street
at

10 comments:

  1. AnonymousApril 25, 2012 at 10:27 AM

    Is the new owner required to maintain the low-income units and/or honor the IHOP lease?

    ReplyDelete
  2. glammaApril 25, 2012 at 10:45 AM

    my condolences to the low income units who have to endure the cultural and gastrointestinal travesty situated beneath them.

    ReplyDelete
  3. Marty WombacherApril 25, 2012 at 11:57 AM

    "This IHOP location is one of the top performing in the country."

    That's sad to read.

    ReplyDelete
  4. Crazy EddieApril 25, 2012 at 2:09 PM

    Give them heavily advertised huge amounts of sugar, salt and fat, and they will come. In overpriced portions as well. And always include coffee as à la carte on the menu. For a real diner in the neighborhood, go to the "Little Poland Restaurant" at 200 Second Ave.

    ReplyDelete
  5. nygrumpApril 25, 2012 at 2:44 PM

    I have a hard time believing this outperforms that IHOP on the interstate exit in Oklahoma.

    ReplyDelete
  6. AnonymousApril 25, 2012 at 5:36 PM

    I'm so fucking sick of the fucking helicopters always hovering in the East Village. This fucking helicopters been going for hours.

    ReplyDelete
  7. HeatherApril 25, 2012 at 11:34 PM

    How does IHOP have enough business to pay that much rent plus overhead and still profit? THATS A LOT OF INTERNATIONAL PANCAKES.

    ReplyDelete
  8. touristApril 25, 2012 at 11:48 PM

    ihop is good.

    ReplyDelete
  9. AnonymousApril 26, 2012 at 7:41 AM

    IHOP SUCKS!

    ReplyDelete
  10. chris flashApril 26, 2012 at 6:30 PM

    After a buyer puts down the normally required 30% ($4.35 million), the monthly debt service (PITI) on the balance ($10.15 million) will be in the area of $100k per month. After IHOP's $45k per month rent, where the fuck is the buyer getting another $55k per month, unless they'd be buying this dump with an eye toward evicting everyone above IHOP????

    ReplyDelete

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