Wednesday, September 2, 2015

Chase branch on 2nd Avenue at St. Mark's Place has the potential to get 4x larger with new owner

A few weeks back we noted that the Chase branch at 130 Second Ave. was closing for good after Nov. 12. The retail space has been on the market, with an asking price of $72,000 a month, per the listing.

Turns out the whole building was for sale. As the Commercial Observer first reported yesterday, J.P. Morgan Chase sold the 2-level space to Stellar Management for $12 million.

And this corner of Second Avenue at St. Mark's Place looks to be growing one of these days. Per the Observer:

The site allows for redevelopment of the 2,380-square-foot site into a mixed-use retail and residential project of 9,520 square feet.

Stellar Management owns and operates residential and commercial real estate in NYC. Per the Stellar website: "The company focuses on real estate acquisitions, development and property management. Stellar’s portfolio contains over 12,000 apartments in 100 buildings in New York City and Miami."

The company doesn't appear to own any buildings in the East Village (well, until now). Updated: A reader reminded us that Stellar teamed up with Icon Realty to buy 128 Second Ave. next door.

The Chase branch at 130 Second Ave. will consolidate with the location two blocks to the north at No. 156.

Previously on EV Grieve:
Chase space on 2nd Avenue and St. Mark's Place is for rent

2 East Village Chase Bank branches are closing for good on Nov. 12


Anonymous said...

$1,260 per buildable square foot? Wow!

Anonymous said...

Nothing original can survive because so greedy fucks have to neuter history and turn every building into luxury condos. This has always been one of my favorite buildings in the EV, the original architect did a beautiful job, soon it will be wrapped in glass and look like and Apple store.

Anonymous said...

@8:18 AM - I'm all for nostalgia, but let's be honest - the architect didn't do anything for this building. It's a brick rectangle with no redeeming qualities.

Submitted from my iPhone

Anon said...

They actually own several buildings in east village.

EVeddie said...

stellar also owns the building above KFC on E 14th and 2nd Ave.

Anonymous said...

Oh, an Apple Store could be cool

Makeout said...

A Chase closing? Somebody spot me a twenty? Please?

Anonymous said...

@9:04 AM

Take a closer look next time you pass by, don't forget to consider the proportions of building itself, subtle and beautiful.

Anonymous said...

This so sucks... Now where am I going to have to go to get a chase... What, 10th at... Fuck this shit is riddonkulous!!!!

nygrump said...

Why wouldn't they knock down both buildings and put up a supertower, you know they want to do to 2nd ave what they did to 3rd. It wouldn't be so galling if all these luxury apts get all kinds of tax breaks

Anonymous said...

@9:04am: The existing building is the Taj Mahal compared to whatever crap gets done there in the future.

"Stellar" - yeah, as in doing a Stellar job of putting Stage Restaurant out of business? No shortage of slimy landlords in the E. Village.