Y7 Studio bringing the hip-hop yoga to 250 E. Houston St.

[Rendering of the all-new 250 E. Houston St.]

The retail strip at 250 E. Houston St., the former Red Square here between Avenue A and Avenue B, has its first new tenant since the 13-floor building changed ownership in the fall of 2016.

Y7 signed a 10-year, 2,000-square-foot ground-floor lease at the base of the residential building for the growing yoga chainlet's eighth location in Manhattan, the Commercial Observer reported. The asking rent was $200 per square foot.

Here's more about Y7:

At Y7 we do things differently. We give you 60 minutes of intensity combined with heat and strength complemented by deep breathing and a calming of the mind. We ask you to step outside the chaos and embrace the fire inside. You’ll flow along to the latest beats. There are no mirrors in the candle-lit studios. The darkness, the sounds, and the heat will take you to a place you’ve never before been. Join us for the best hour of your day. Leave here feeling strong, clear and ready to take on whatever the city has in store for you. Take a class and never look back.

And a video feature from a few years back...



Not sure exactly which retail space Y7 is taking. There are four vacancies total in this strip of shops, which feature an H&R Block, Dunkin' Donuts/Baskin-Robbins combo, Subway (sandwich shop), Sleepy's/Mattress Firm, China Town Chinese restaurant and a FedEx Office Print & Ship Center. (There's also a dry cleaners, a doctor's office and East Houston Wine & Liquor.)



And we're really behind on updating the gym options post.

Previously on EV Grieve:
Rumors: Red Square has been sold

New ownership makes it official at the former Red Square on East Houston

Apartment listings at 250 E. Houston look to offer glimpse of former Red Square's future

Long-vacant retail space hits the rental market at 250 E. Houston St.

Former Red Square lobby gets the plywood treatment on East Houston

Former Red Square lobby gets the plywood treatment on East Houston

Renovations continue over at 250 E. Houston St., the former Red Square here between Avenue A and Avenue B.

The 13-floor building changed hands for a reported $100 million in the fall of 2016.

The Dermot Company has stated they are "creating a more updated style and fit for the cool East Village neighborhood" with the renovations at the retail-residential complex with the Tibor Kalman-designed rooftop clock.

Apparently now it's time to revamp the entryway for residents... from the old...


[EVG photo from June 2017]

... to the pizzazzy ...



Red Square opened for occupancy in June 1989. Workers removed the building's statue of Lenin from the roof in September 2016. It's now standing on a nearby rooftop on Norfolk Street.

Previously on EV Grieve:
Rumors: Red Square has been sold

New ownership makes it official at the former Red Square on East Houston

Apartment listings at 250 E. Houston look to offer glimpse of former Red Square's future

Long-vacant retail space hits the rental market at 250 E. Houston St.

250 E. Houston is officially no longer Red Square

Just noting that the Red Square signage was recently removed from 250 E. Houston St. between Avenue A and Avenue B...



The 13-floor building changed hands for a reported $100 million last fall... The Dermot Company has stated they are "creating a more updated style and fit for the cool East Village neighborhood" with the renovations at the retail-residential complex.

Red Square opened for occupancy in June 1989. Workers removed the building's statue of Lenin from the roof last September. It's now standing on a nearby rooftop on Norfolk Street.

Previously on EV Grieve:
Rumors: Red Square has been sold

New ownership makes it official at the former Red Square on East Houston

Apartment listings at 250 E. Houston look to offer glimpse of former Red Square's future

Long-vacant retail space hits the rental market at 250 E. Houston St.

Long-vacant retail space hits the rental market at 250 E. Houston St.

Retail for rent signs have arrived along 250 E. Houston St. ... where there have been several vacant storefronts in the former Red Square residential building between Avenue A and Avenue B...



The 13-floor complex changed hands for a reported $100 million last fall. However, according to the Post, the retail space was not part of the deal.

Well, someone is renting it now. The listing at Ripco notes that 4,000 square feet of divisible space is available... this...



I believe this was the former Blockbuster space and assorted Halloween pop-up shops. (No wait — the Sleepy's moved into the Blockbuster space. So this is the former Sleepy's space!)

Anyway! Per the listing, all uses are considered ... and "sidewalk cafe possible due to building setback."

And!

"The Dermot Company is renovating this 130 rental unit building. The facade and storefronts will be refaced creating a more updated style and fit for the cool East Village neighborhood. There is 4,000 SF available immediately; subdivisions are considered. The space is perfect for restaurants, cafes, fitness, lifestyle retailers, and all other high quality uses."



There's no mention of the asking rent.

There are four vacancies total in this strip of shops, which feature an H&R Block, Dunkin' Donuts/Baskin-Robbins combo, Subway (sandwich shop), Sleepy's/Mattress Firm, China Town Chinese restaurant and a FedEx Office Print & Ship Center. (There's also a dry cleaners and East Houston Wine & Liquor.) This listing covers two of the vacancies.

The building opened for occupancy at the former site of a gas station in June 1989. Workers removed the building's statue of Lenin from the roof last September.

Previously on EV Grieve:
Rumors: Red Square has been sold

New ownership makes it official at the former Red Square on East Houston

Apartment listings at 250 E. Houston look to offer glimpse of former Red Square's future

Blockbuster closes tomorrow; last chance to buy the store's fire extinguisher

Apartment listings at 250 E. Houston look to offer glimpse of former Red Square's future

[The current No. 250]

Last fall, Red Square, the 13-floor residential complex at 250 E. Houston St. between Avenue A and Avenue B, changed hands for a reported $100 million.

A letter to residents noted some "very exciting changes" coming to the building, which was apparently dropping the Red Square moniker. Among other things, the common areas would be refurbished.

There are currently eight available units (ranging from $2,900 to $4,500) on Streeteasy.

The renderings that accompany the listings show a luxurified version of its current self... with more high-end retail than what's currently in place...







... and another view of the entrance... with some awesome scalies...



Not sure if this is really the future or just wishful thinking.

The building opened in June 1989. Workers removed the building's statue of Lenin from the roof in September.

Previously on EV Grieve:
Rumors: Red Square has been sold

New ownership makes it official at the former Red Square on East Houston

A look at East Houston before the arrival of Red Square

The apartment complex at 250 E. Houston St. between Avenue A and Avenue B has been in the news this fall. Ahead of the former Red Square's sale, workers removed the statue of Lenin from atop the 13-story building that opened in 1989.

EVG reader James Knapp shared this photo from the late 1980s taken just a little east of where the main building stands now... the site of the one-level row of businesses...


[Click to go big]

In this photo, which Knapp believes is from 1987, there's a view of the gas station that was on the property for 25 years...

New ownership makes it official at the former Red Square on East Houston

Back in August, news broke that Red Square, the residential complex at 250 E. Houston St. between Avenue A and Avenue B, was in contract for some $100 million, according to published reports.

Ahead of the final sale, the statue of Lenin was removed last month from atop the 13-floor building. (It will reign again nearby on Norfolk Street.)

Now a building resident passes along a letter that he or she received from the Dermot Co. announcing the new ownership...



The new owner is 250 Houston Investors, LP, and is managed by Dermot. (A news release on the deal, which didn't disclose the terms, states that "The Dermot Company, in partnership with Rockwood Capital, LLC, announced the joint-venture acquisition of 250 East Houston St.")

The letter to current residents also notes that 250 East Houston (the name Red Square has apparently been retired) "will be undergoing a renovation project that will encompass updating common area spaces, adding amenities, renovating apartments and upgrading building systems."

According to the reader, one of the first actions by the new management was to "cut the staff salaries by 30 percent. The doormen were making around $16/hour, now cut to $11. They were given ONE DAY to accept or leave. Not being union employees, they had little choice."

The reader continued: "Should be interesting to see these new owners try to sell this place as 'luxury' with unhappy employees."

Meanwhile, another Red Square 250 E. Houston St. resident wrote in to say how treacherous the building's elevators are.

Both elevators at 250 Houston have been malfunctioning for more than a year. Shoddy and ineffective repairs are being made as often as 4-6 times a week and have not alleviated severe problems in either elevator.

And what about new ownership?

The elevators need immediate and substantial repairs. The new management will replace them — there's even a rumor that they are going to take both offline to do that.

I don't feel safe using them — and they shouldn't be allowed to operate that way for the next 6-12 months.

The building, which features 130 rental units, also has 23,000 square feet of retail space. According to the Post last August, the retail space was not going to be part of the deal. There are four vacancies in this strip of shops, which include a Dunkin' Donuts, Subway (sandwich shop), Sleepy's (for the rest of your life), China Town Chinese restaurant and a FedEx Office Print & Ship Center.

Per Streeteasy, there are currently two rentals available. A 2-bedroom apartment with balcony for $4,875 and a 1-bedroom unit for $3,000.

The building, the creation of Michael Rosen, opened in June 1989.

Previously on EV Grieve:
Rumors: Red Square has been sold