Permits have been filed for a 7-floor residential building at 238 E. Third St. between Avenue B and Avenue C.
Here's more from New York Yimby, who first reported on the development:
The new structure will be designed by Vikatos Architect, and will comprise a total of 20,928 square feet of living area with a total built-up area of 27,657 square feet.
The building will rise seven floors above ground to 75 feet, with additional cellar living area and a basement. 20 rental units are planned, in total, putting the average unit at about 1,046 square feet.
The building, which the Blue Man Group owned at one point for use as a practice facility, hit the market last September with a $12 million ask.
The listing noted at the time: "This is an excellent opportunity for a developer to acquire a 50’ wide development site in the East Village. In addition, considering how unique the building is, the offering presents an incredibly rare opportunity in which the current building and configuration could be maintained for a user."
Given the new-building specs, it appears that the current structure will come down, though demo permits haven't been filed yet.
In a previous life, the building served as a movie theater. Public records from July 2017 list two of the founders of the Blue Man Group — Chris Wink and Philip Stanton — as the previous owners, who received $18.6 million for this and another LES property.
Per NYY, Vinbaytel Property Development is the new owner of No. 238. Vinbaytel has developed several East Village condos in recent years, including at 227 E. Seventh St., 67 Avenue C and 26 Avenue B.