Why this new condominium remains tenant-free in the East Village

Photos by Stacie Joy 

We've fielded a few reader queries about Novum East Village, the residential complex at 238-240 E. Third St. between Avenue B and Avenue C. 

The 20-unit building is complete, with units — between $1.3 and $2.3 million — arriving for sale in the spring of 2022, per City Realty. 

So why is Novum still tenant-free? 

This development is one of three Manhattan projects sitting in limbo following a lawsuit involving a "sanctioned Russian oligarch" who is allegedly trying to "blow up" his investments via shell companies, according to a lawsuit. The Post and The Real Deal have details on the lawsuit that dates to the summer of 2022. 

Per the Post: 

[Mikhail Vasilyevich] Klyukin, 44, accused the various companies managing the projects of wrongdoing and claimed his own company, Ahimsa, should assume control — but never said what the alleged wrongdoing was, according to the litigation filed by D&V Realty and other corporations developing the projects. 

While all this is pending in the court system, Novum remains dark. There have been rumors of squatters taking spaces here. (Sources tell us there is a porter on the property at least once a week.)

Per Streeteasy listings, this is what any resident can expect: 

Live at the newest, quintessential East Village condominium, the Novum East Village. A thoughtfully designed full-service building. Home to a collection of just 20 residences, ranging from 1 and 2 bedrooms, offering multiple floor plan layouts, with and without outdoor spaces. On top of the building sits a crown jewel penthouse with magnificent city views from any of its three private outdoor spaces.

Building amenities include a part-time and virtual doorman, cold storage and package locker, gym, common courtyard with BBQ grill, complimentary bike storage, and large private storage rooms. 

Residents will enjoy the modern finishes, including a video doorbell by Ring, 10” wide hardwood floors, open, chef kitchen – outfitted with German cabinetry by Bauformat, Bertazzoni appliances, wine fridge, Caeserstone countertops with glass backsplash, breakfast island, large windows, elegant bathrooms with radiant heat floors, multi-zone central air, great closet space, an oversized laundry room with built-in washer/dryer units and private outdoor spaces available in selected units.

The address previously housed a movie theater and rehearsal space for Blue Man Group. In April 2018, the developer, through an LLC, bought the two-story commercial building for $12 million (per Acris).

Listing agents at Compass did not respond to queries about the building.