Wednesday, December 13, 2017

243 and 245 E. 2nd St. asking nearly $18 million

243 and 245 E. Second St. are now on the market ... each of the walkups between Avenue B and Avenue C have 10 units. The slightly larger No. 243 is asking $10.5 million while No. 245 is $7.25 million, per the listings (here and here).

Public records show that Triost Properties bought the buildings in 2011 — $800,000 for No. 245 and $1.4 million for No. 243. (The seller was the estate of Bertha Zawin.)

The buildings went under extensive gut renovations several years ago. Average rentals now at No. 243 are roughly $4,600, per Streeteasy. Rentals at No. 245 ranged from $3,200 to $4,800.

As I understand it, a number of rent-stabilized units remain in No. 245.

Artists Peter Cramer, Carl George, Kembra Pfahler and Jack Waters, longtime residents at No. 245, shared their story in this post from 2014.

Previously on EV Grieve:
On Second Street, the 'Milky Way Dragon' disappears

Renovations, penthouse in the works for 243 E. Second St.

Continued development concerns at 243-245 E. Second St.

A look at the transformation of 243-245 E. 2nd St.


Anonymous said...

That's an impressive ROI.

Brian said...

The artists remain (I hope.) The owners change. More yuppies move in.