Thursday, September 13, 2018

130 E. 7th St. is for sale

[Image via Marcus & Millichap]

From the EVG tip line comes this listing for 130 E. Seventh St., the 7-floor building on the southwest corner of Avenue A.

Marcus & Millichap is the broker, though the link is via Loopnet. Some details:

130 East 7th Street offers investors a unique opportunity to acquire a corner elevator loft mixed-use building in the heart of the East Village with strong in place cash-flow. Miss Lily’s, a popular Caribbean style restaurant occupies the ground floor. There is shared office space occupying the second floor followed by five floor-through loft apartments. All of apartments are three bedrooms aside from the penthouse unit which is a spacious four bedrooms duplex apartment with a 1,300 Square Foot private outdoor space.

And from the investment summary...

[Click to go big]

Curiously, the summary notes: "The other ground floor retail (7th Street side) is occupied by Avant Garden. They are on a lease that expires in 2088..." 2088? Helluva lease!

Anyway, the building's asking price: $22.95 million.

And here's part of an EVG post from August 2016 about the address...


The 7-floor building on the southwest corner has been through a luxury makeover in recent years. The new residential rentals were fetching $16,995 and $14,995. Longtime corner restaurant 7A closed in January 2014... and later replaced by Miss Lily's.

Public records show that the University of the Streets sold the building to Park Corner Development, LLC in September 2011 for $5 million.

After 46 years of music and arts programs here, the University of the Streets cleared out of the second floor in April 2015 and relocated to the Bronx.

The address was home to L.W. Schwenk… and here's a photo dated July 24, 1914, titled "Depositors at failed bank."

Previously on EV Grieve:
Penthouse life above 7A will cost you $16,995 monthly

1 comment:

Neighbor said...

That's a really cool photo and great history of this building. Thanks for sharing. Info like this is why I really love this site.