Thursday, November 3, 2016

A few more details about the sale of 123 2nd Ave.



Back in late September, news arrived that the lot that housed 123 Second Ave., one of three buildings destroyed following the deadly gas explosion in March 2015, sold for $6 million.

The buyer was reported as Ezra Wibowo under the LLC 123 Second Ave. Corp. While there haven't been any details divulged about what might be coming to the property, Crain's this week provided a few more details about the deal.

The $6 million sale price for what’s now a vacant lot at 123 Second Ave. is likely higher than what the building that stood there would have commanded. The sellers, who originally asked $9.7 million, had taken a $499,000 mortgage on the building in 1999, and it generated gross revenue of $283,580 in 2014, per real estate research website Reonomy.

Moreover, the September sale price for the lot is comparable to what larger nearby apartment buildings have traded for in recent years. The new owner of 123 Second Ave., an investor from the West Village, could not be reached regarding any development plans — and none have been filed with the city — but it’s unlikely such a choice spot will remain undeveloped for long.

No. 123 housed Pommes Frites and Sam's Deli and several residential spaces. Maria Hrynenko, the owner of 119 and 121 Second Ave. faces various charges (along with four others), including involuntary manslaughter.

Previously on EV Grieve:
Report: City claims immunity in tenant lawsuit over deadly 2nd Avenue gas explosion
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1 comment:

  1. AnonymousNovember 4, 2016 at 11:11 PM

    Can we find out what happened to Sam and his family from Sam's deli? Loved the guys there. Hopefully they are doing well.

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