At the opening day of Book Club on 3rd Street

Book Club opened its doors Saturday morning at 197 E. Third St. between Avenue A and Avenue B.

EVG contributor Stacie Joy stopped by Saturday for an opening-day look at the bookstore-cafe owned and operated by East Village couple Erin Neary and Nat Esten...




[Esten]


[Neary]

The space features an area for sitting and reading ... and a cafe serving MUD coffee. (They were approved for a beer-wine license, which is expected to be issued next month.) Look for community events and readings in the weeks/months ahead.















Book Club is currently open from 8 a.m. to 9 p.m. daily. Find more updates via their Instagram account.

View this post on Instagram

What a weekend! THANK YOU to everyone who came out to support us. We're just getting started! Working on a ton of fun events for the store, plus beer and wine coming soon. Thank you for shopping local! 📚 ☕🍷

A post shared by Book Club (@bookclubbar) on Nov 11, 2019 at 5:33am PST

Previously on EV Grieve:
Book Club — an independent bookstore with cafe — coming to 3rd Street

A look at Book Club, the new bookstore-cafe (softly) opening tomorrow on 3rd Street

A look at Book Club, the new bookstore-cafe (softly) opening tomorrow on 3rd Street

Tomorrow (Nov. 9) at 9 a.m., Book Club makes its debut at 197 E. Third St. between Avenue A and Avenue B.

As we've been reporting, this bookstore-cafe is the work — two years in the making — of an East Village couple, Erin Neary and Nat Esten.

EVG contributor Stacie Joy stopped by yesterday for a quick look at the space before its soft opening tomorrow...



The book portion of the storefront will carry a broad selection of adult fiction, non-fiction and a children's section ...







Book Club includes some East Village-specific reads...



The space features an area for sitting and reading ... and a cafe serving MUD coffee. (They were approved for a beer-wine license, though that has yet to be issued.) Expect some community events and readings in the weeks/months ahead. You can follow their Instagram account for updates... or their website.

Meanwhile, they'll be open from 9 a.m. to 9 p.m. tomorrow...



Previously on EV Grieve:
Book Club — an independent bookstore with cafe — coming to 3rd Street

Looking at the Book Club signage on 3rd Street

Several EVG readers have noted the recent arrival of the Book Club signage over at 197 E. Third St. just west of Avenue B.

As first reported on July 15, two East Village residents are behind this project — an independent bookstore featuring a cafe.

Erin Neary, who's operating the space with her fiance, Nat Esten, told me previously that the book portion of the storefront will carry a broad selection of adult fiction, non-fiction and a children's section ... they'll also offer a variety of greeting cards and gifts. As for the cafe section, they'll be serving MUD coffee, among other items.

No word on an opening date. You can follow their Instagram account for updates.

Previously on EV Grieve:
Book Club — an independent bookstore with cafe — coming to 3rd Street

Book Club makes it official on 3rd Street

The coming soon signage is now up at Book Club, the independent bookstore featuring a cafe that's in the works for 197 E. Third St. between Avenue A and Avenue B.

As I first reported on July 15, two East Village residents are behind this project. Erin Neary, who's operating the space with her fiance, Nat Esten, told me previously that the book portion of the storefront will carry a broad selection of adult fiction, non-fiction and a children's section ... they'll also offer a variety of greeting cards and gifts. As for the cafe section, they'll be serving MUD coffee, among other items.

"As East Village residents for the last decade, we're committed to having Book Club be a celebration of the spirit and diversity of the neighborhood," Neary said.

The shop has a website with a sign up for a mailing list ... as well as an Instagram account, where you can find the top photo.

Previously on EV Grieve:
Book Club — an independent bookstore with cafe — coming to 3rd Street

Former No Malice Palace for rent on 3rd Street

For rent signs are now in the window of the renovated storefront at 197 E. Third Street west of Avenue B (in the former No Malice Palace space).

According to the listing at the Dartmouth Company:

Size: Ground - 1,212 SF + outdoor area | Basement - 1,145 SF

Asking Rent: Upon Request

Vented restaurant space available on trendy East Village block.

Landlord delivering brand-new glass storefront.

Located in Manhattan’s most exciting dining neighborhood.

The building that housed NMP had been on the sales market for the second time in three years. (Didn't see any sign of a recent sale here via public records.)

No Malice Palace opened in 1999. Owner Phil Sherman died in November 2016 ... various signs on the gate in 2017 noted that they would reopen, but were just "waiting on legal things to happen." NMP remained closed until early December 2017, when it emerged as a pop-up holiday bar called Donner and Blitzen's Reindeer Lounge. No Malice Palace returned then in January 2018 before shutting for good last April.

Plans for a bar called Down and Out never materialized here.

An EVG reader mentioned that a bar had opened in the space last fall... which prompted the arrival of the Laurel & Hardy Urban Etiquette Sign...

197 E.. 3rd St. is for sale — again

[Image via Massey & Knakal]

The building on Third Street between Avenue A and Avenue B is back on the market. It went up for sale in March 2016 with a $7.5 million price tag.

According to public records, an LLC with a Midtown address bought the property for $6.3 million in a sale recorded in August 2016.

Here's more on the latest via the Massey & Knakal listing:

197 East 3rd Street consists of an occupied retail unit on the ground floor along with the majority of basement and 16 apartments above. All of the residential units are rent stabilized due to enrollment in the J-51 Tax Abatement program; however, 8 apartments are renting at market with high legal rents that permit preferential rents at market. The buyer can add value in a variety of ways including roof deck installation, retail expansion and future upside in the remaining 8 unrenovated apartments (half the building).

The 8 apartments renting at market were just completely gut renovated with upgrades including brand new floors, lighting, exposed/pointed brick walls, new tile work throughout the bathrooms and kitchens and a complete set of Bosch appliances (washer/dryers, refrigerators, dishwashers, microwaves and gas ranges).

In addition to the 8 renovated apartments, the building underwent an extensive renovation which included lobby and common area renovations, a video intercom with Kerisys security key fob installation, façade upgrades, new electrical system throughout (800 amps with new conduit/cables and 80 amp electric panels in each residential unit), completely new lighting in the common areas and much more.

Due to all the work that was performed throughout the building, current ownership is in the process of applying for rent increases due to Major Capital Improvements which should go into effect mid-2018. These increases will result in approximately $10,000 in additional annual net income.

Asking price: $9.2 million.

The retail tenant is No Malice Palace, which eventually returned after the death of owner Phil Sherman. This past Christmas it temporarily served as Donner and Blitzen's Reindeer Lounge.

197 E.. 3rd St. is for sale

[Image via Cushman & Wakefield]

The 5-story building between Avenue A and Avenue B is now on the sales market.

Here are the details via Cushman & Wakefield:

The building currently benefits from a J-51 Tax Abatement, which expires in 2024/2025. As a result, all of the residential apartments are rent stabilized per the abatement.

While rents for 6 apartments are limited by rent stabilization, the remaining 7 occupied apartments currently achieve rents that are closer to market, but are significantly lower than the maximum legal rent for these units. There are 3 vacant units. The 6 apartments are currently renting on average for $42.39/NSF or less than $1,250/month compared to approximately $59.45/NSF for the 7 units.

Furthermore, 4 of the 6 units contain preferential rents which upon expiration would add almost $15,000 in additional income with no additional renovation work. Of the 16 total residential apartments, 13 are occupied and 3 are vacant, while 13 are configured as studios and 3 as one bedroom units.

The ground-floor commercial unit is occupied by No Malice Palace, a very popular bar and night club with exclusive access to the rear yard whose lease expires in December 2019.

Asking price: $7.5 million.

Back in 2014, some No. 197 residents, tired of the nearby bar scene, created a sign suggesting where some weekend wooseekers may go.