325 E. 14th St., sells, and farewell to the Crocodile Lounge sidewalk awning

After more than a year on the sales market, 325 E. 14th St. between First Avenue and Second Avenue has a new owner. 

In a transaction posted early last month, an LLC connected to The Sabet Group bought the four-story building for $3.3 million, down from its initial $5.5 million ask. 

For generations, a family has owned the building known as The James McCreery House. Daytonian in Manhattan has some history here. 

The retail space has been restaurants going back many years, including Il Faro and, in the 1990s, Manila Garden. And in recent years, the place was home to Crocodile Lounge, which never reopened after the COVID shutdown in March 2020. 

The green awning (it changed color in 2016) remained up, however... providing some hope to its fans (and the free 10-inch pizza served with every drink) would return. 

Last week, workers hauled off the awning... (thanks for the tip, Pinch!)

We never set foot in the place, but we know it had its fans. The free pizza, skee ball, and photo booth seemed to draw a solid happy hour crowd.

Above photo from April 2023 by Steven

About 325 E. 14th St., now on the sales market

Photo by Steven

The four-floor building at 325 E. 14th St. between First Avenue and Second Avenue is now for sale with a $5.5 million ask. 

According to the Post, which first reported on the sale, the mixed-use property includes four free-market apartments and one retail space, most recently the Crocodile Lounge, which didn't reopen after March 2020. "The entire retail footprint, including the basement, will be delivered vacant." 

And air rights are available too. 

Owner Marie Perugini reportedly inherited No. 325 from her grandfather, who purchased it in 1932. 

Dayton in Manhattan has an extensive history of the building, such as the decades when it operated as a "theatrical boarding house." 

Two boarders who were most definitely not involved in the theater arrived on April 3, 1902. Signing in as Mr. and Mrs. Harry Place, the couple were, in reality, Harry Alonzo Longabaugh, known to authorities as the outlaw and member of Butch Cassidy's "Wild Bunch," Sundance Kid, and his wife, Etta Place.

Perugini, the current owner, told this to the Post:

"An expansive character-laden empty space houses echoes of history, romance, and former intrigue. Perhaps you can sense the presence of those who haven’t quite left. The purchase of this unique property is the foundation for a future that is alive & bright."