Monday, September 23, 2013

Reader rumor report: 504-508 E. 11th St. has been sold



A tipster shares this report... which we're posting verbatim...

As if 11th Street wasn't under enough stress with that plastic scourge from the 'burbs, 7-11, on the verge of puking up its burnt weenies and Slurpees all over the corner of 11th and A. Now it seems that the nearby building of 504-508 E 11th Street has been recently sold to a real estate investment cabal with big plans to cash in on the current East Village real estate feeding frenzy.

And there's certainly copious amounts blood in the neighborhood waters these days. Word has it that the new dollar sign eyed owners intend to clear the 28 unit building of its tenants asap, "renovate", and then jack up the rents to the grotesque amounts commanded by landlords utilizing the rapidly fading vapors of EV hipness to entice the legions of eager neighborhood newbies waving fistfuls of dollars. Boy howdy, what could cooler than having a brand spanking new 7-11 right on your corner!

To date, nothing in the NYC property records indicates that the building has recently changed hands. But, given the frenzy described above, it's certainly not surprising to learn that a deal is in the works ...

Previously on EV Grieve:
Your guide to construction hell on East 11th Street

2 comments:

Gojira said...

Uh-oh. THe landlord there was an old-time eccentric, who actually let tenants live there rent-free (I know someone there who has not paid a penny for his apt. since the 90s), guess that arrangement will not stand for much longer. Wonder if that's why piles of stuff are being placed on the little elevated section right in front of the building on a daily basis, so anyone who wants can pick through and take things for free? I've been getting some great cookbooks...

Anonymous said...

Damn Whisper Listings