Tuesday, July 26, 2022

112 4th Ave. hits the sales market

The cast-iron loft building at 112 Fourth Ave. between 11th Street and 12th Street is now on the market. 

The for-sale banners recently arrived on the property, and the listing arrived online yesterday via Besen. Per that listing
(The "Property") is comprised of a 5-story + basement 13,969± SF above-grade (D2 Class) "Elevator Apartments – Artists in Residence" loft building, built in the early 1900s and renovated in 1980. ... The building dimensions are 25' x 110' on a 27' x 116.25' lot, Tax Class 2B, and the property is zoned C6-1, which is R7-2 equivalent. 

The building will be delivered vacant and lends itself well to either fully convert into luxury residential or remain as office-use upstairs (C of O from 1961 has office use on upper floors). The spacious and usable 2,750± SF basement offers 12' ceiling heights, with direct elevator access. 
The offering memorandum (PDF here) shows that the building is currently vacant. (And there are some unused air rights). Asking price: $14.975 million.
The Salvation Army store was a longtime retail tenant until the fall of 2019. A Salvation Army official told us at the time that the landlord, an LLC, terminated their lease.

Village Preservation wrote about No. 112's long and fascinating history as part of an ongoing series titled "Why Isn't This Landmarked?"

The building, designed by architect Griffith Thomas for the Estate of Samuel J. Hunt, dates to the 1870s ... and "is linked to a number of prominent publishers, artists, and political figures, as well as civil rights, social justice, leftist, labor, and Jewish histories." Read more here.

In November 2020, the city dropped its controversial rezoning plan for a hotel special permit requirement south of Union Square. Still, there are concerns about out-of-character development (like at 799 Broadway or 809 Broadway) in this corridor after the upzoning necessary for the 21-floor Zero Irving on 14th Street.  


noble neolani said...

Exactly, why is this building not landmarked. My crystal ball says luxury housing or pied de tiers for folks who live uptown but sometime want brunch in the East Village on the weekends without have to travel so far. A big glass extension which will break the zoning laws until Carlina Rivera votes to change that zoning law as well.

Anonymous said...

I miss the Salvation Army. Their 23rd Street outpost is gone as well.

Anonymous said...

Really I’m surprised they closed 23 rd ??? 4 th was a s show after they closed the basement. Just go to the big one across from the old H and H bagels in the upper 39’s. They closed Quimby location in Brooklyn too. Internet thrifting is killing brick and mortar.