The long-dormant building, with a vacancy order still in place, has remained in disrepair for decades. New ownership — said to be a private foundation — bought the property in January 2024 for $57.1 million.
Yesterday, Crain's New York Business ran an interview with the owner, Aaron Sosnick, of 605 East 9th Community Holdings LLC. While there wasn't much new information shared for those following the story, these were Sosnick's first published comments about the property.
During the first two public meetings about the former school's future in October 2024 and January 2025 (see links below), organizers referred to the LLC as "a philanthropic entity with the purpose of returning the property to community use." (The Real Deal had previously cited Sosnick's ties to the property.)
Sosnick, who owns a place next door, told Crain's that the effort — called the Creative Community Collective — is still in its early stages but aims to create an educational, arts, and community hub for the East Village. (Photo below by Stacie Joy from January 2025.)
"It's been a year and a half of making the community aware of what's going on, doing initial outreach to places that might be interested," said Sosnick, a hedge fund manager, investor and philanthropist. "Now we're really moving toward making a serious plan."
The project could take three to seven years to complete at an estimated $200 million cost (double the amount floated last fall), financed through philanthropy, government support and leasing income, Sosnick told Crain's.
The immediate goal is to lift the building's vacate order so engineers and architects can begin detailed planning.
The team has been in talks with a nonprofit and a foundation as potential anchor tenants and is considering amenities such as a theater, dance rehearsal space and even a wedding chapel.
Despite the challenges ahead, Sosnick said he's optimistic: "We think we're in a very strong position to do something good there — and we're working hard at it."
EVG's Stacie Joy asked a project rep for any other updates.
"I suspect another meeting with members of the community will happen in some form when there's more information to share down the line beyond what we covered at the last info session earlier this year," said Quamid Francis of Q Impact Solutions, who led the previous public meetings.
Francis, who noted that he liked the Crain's piece, said they are "focused on getting the vacate order lifted and fundraising."
Previously on EV Grieve:
2 comments:
Can't wait to see what they do here. Anything will be better than a vacant, rundown building!
In the land of dark news, how beautiful to read about the quiet side of someone attempting to do something great for the neighborhood and the Arts. Mr Sosnick, as a musician that lives on 9th Street and plays for Dancers from Paul Taylor to Limon I thank You ( I just just played for Limon class at New York Center for Creativity & Dance ) To create another space at Charas for the Arts to thrive will truly help elevate the East Village as well as NYC~
Post a Comment