Photo from July by Stacie Joy
An EVG tipster points us to a new listing from late last week at LoopNet. According to the listing, 156,000 square feet of space is available for sale or lease here between Avenue B and Avenue C via Wexler Healthcare Properties at the Corcoran Group.
The listing states:
The redevelopment and historic restoration of this century-old landmark, a former New York City elementary school, can be transformed into a variety of modern, amenity-rich opportunities, including:• Student Dormitories• Education Center College• Satellite Campus• Medical Center• Nursing Home• Assisted Living
The listing also notes that the property "can be made Article 28 compliant" and "leasehold condo structure considered."
The building became the CHARAS/El Bohio Community Center after the school left in 1977. New landlord Gregg Singer reportedly evicted the group in December 2001. He bought the property from the city during an auction in 1998 for $3.15 million.
As previously reported, ownership of the property had been in transition. In January, Supreme Court Justice Melissa Crane ruled that Madison Realty Capital could move forward with a foreclosure against Singer after years of delay.
Madison Realty Capital reportedly provided Singer with a $44 million loan on the property in 2016. Court records show that he failed to repay the balance by its maturity date in April 2016, and by that September, the lender filed to foreclose, as reported by The Real Deal.
Now we're back to some familiar proposed uses for the space. Singer wanted to turn the building into a dorm (more here), though those plans never materialized. (In past years, the Joffrey Ballet and Cooper Union were attached to the project.)
There was also a moment when the building could have been used for medical purposes: In March 2020, Singer reportedly offered the building to the city for use in treating patients with COVID. The city declined.
The address has multiple open fines and violations with the Department of Buildings, which still has a Stop Work Order (dating to August 2015) and a Full Vacate Order (from February 2019).
Meanwhile, there is a continued call to return the building for community use.
The five-story building has been vacant for 20-plus years.
17 comments:
Medical use would be great. Beth Israel is just the worst. A person could die there before you are seen in an emergency.
Given this building has been vacant for 20 years, it's not obvious that it can be reused without extensive repairs. At which point it might make just as much sense to tear it down.
Some sort of an affordable assisted living place for the elderly and infirm with certain levels of onsight medical support would be cool and is much needed in the area imo. Certainly better than another NYU dorm. Best, jg
I wouldn't send my worst enemy's dog to Beth Israel even if they were giving out free Scooby snacks.
@2:14
Not really, it is a landmarked building, it would be illegal to demolish it and morally bankrupt to do so.
Speculators have kept this former cultural center away from community use for over 20 years, depriving our neighborhood from a vital and once vibrant space that brought people from all walks of life together, incl. many Puerto Ricans who had provided crucial leadership. What the city auctioned off under former mayor Guiliani for cheap, it is now morally obliged to return back to the community to stop this ongoing harm.
The city doesn't own the building. Maybe the community can try to buy it.
right on 4:46 be great to return it to a community center a Medical center could exists within it as well and maybe maybe we can start having in person community board meetings there :) by the time it's finished being rehabed
Years and years of construction.
At this point, I think anything that can legally be housed there should get done. The building is the big loser in the 20 year war of attrition over its fate, and the idea of “returning it to the community” is barely even a pipe dream. I’d personally love to see something for seniors there, but don’t know how the economics work. I’d also point out that the Community Board recently and enthusiastically green-lighted the Madison Realty Capital 24 story, totally uncontextual building at the corner of 14th and C, so they may have friends for their next steps here.
Singer won. Got away with 44 million and the bank who will be in possession is only concerned with maximizing its value.
Correct, the city does not own it currently because it auctioned it off under Guiliani, who has now become infamous for many other things. Time to reverse harm.
You might be all too correct about "pipedream", yet this city has enormous wealth that could well be mobilized to reverse this harm.
Why delay squat today
Excellent question.
maybe say that, then go the way St Vincents went.
A little quaint for nyu perhaps.
and a whole lotta rot to boot.
I have lived on this block for over 25 years. Apart bloody time this wonderful building had a new productive life!
Post a Comment