Thursday, August 21, 2014
Checking in on 58 E. Third St.
More than a year has passed since we last looked at "East Village3" aka "The #EV3" ... aka 50-58 E. Third St. where many longtime tenants lost their leases when new owners (GRJ, a fund co-founded and co-managed by brothers Graham and Gregory Jones) bought the walk-up building for $23.5 million in the spring of 2012.
We looked at units ranging in price from $4,900 to $5,150 for a post in March 2013.
EVG reader Yenta Laureate, who took the above photo, has been keeping tabs on the buildings between First Avenue and Second Avenue.
Yenta notes that the first and biggest of the downstairs duplex apartments at No. 58 rented for $11K a month earlier this summer. Aside from six bedrooms and four bathrooms, the unit features a private courtyard.
And how about the renovations in the buildings?
"The quality of the work and materials is quite good. All bricks have been properly re-pointed and mortared. Marble steps were replaced. I'd call the attention to detail unusually painstaking and quality oriented," Yenta said. "One cornice still needs doing but they seem to be seriously researching how to do that best. In some ways it is both a preservationist and luxury project about a type of comfortable authenticity."
"Which in no way justifies the misery they cause the few existing tenants who remain or abates their overall impact on the neighborhood."
By comparison, Jared Kushner's 170 E. Second St. is a "newer building with far better bones, but he is not doing this type of quality work."
Previously on EV Grieve:
Reader report: Three apartment buildings sold on East Third Street
Advocate for East Third Street buildings moving to Washington Heights
More about the lease renewals at 50, 54 and 58 E. Third St.
Tenants at 50, 54 and 58 E. Third St. banding to together in face of building sale
More drama at 50-58 E. Third St.; 'heavy construction' awaits tenants who stay
And now the renovations really begin at 50-58 E. Third St.
The 'East Village3' is ready for you; for that 'Industrial Chic feel'