249 E. 2nd St. is for sale, air rights included

[Image via Streeteasy]

Here is information about the building between Avenue B and Avenue C … via Streeteasy (Marcus & Millichap has the listing):

249 East 2nd Street contains a gross square footage of 7,050. The property has frontage on both East 2nd Street and East Houston and is built 25 feet by 54 feet deep (Block: 00384 Lot: 0029 ). The property is zoned R8A and contains approximately 1,650 square feet of unused air rights.

The subject property is a five story multifamily building consisting of 20 studio apartments. Of the 20 units, 16 are free market and 4 are rent stabilized. The rent stabilized units provide an investor tremendous rental upside and immense potential for future rental growth.

The property represents a rare opportunity to acquire a cash flowing multifamily asset in the booming Alphabet City neighborhood. With a going-in cap rate at 3.5%, the asset provides strong current cash flow with long-term future upside.

The building is adjacent to the former Mobil station off of Avenue C and East Houston. The station, which closed last September, will be demolished. There are plans in the works for a 10-story building with ground floor retail here.

As for 249 E. Second St., the asking price is $6.95 million.

Workers are now demolishing the last 2 East Village gas stations

Demolition work has started at the former BP station on Second Avenue at East First Street.





The Deal Deal reported back in the fall that a new development with 50,000 square feet of condominiums and 7,000 square feet of retail is on the way. However, permits for a new building are not on file yet with the Department of Buildings.

BP closed in early July.

And there's no word on what became of the little tree in the original Exxon-branded planter.

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Meanwhile, over at East Houston and Avenue C, EVG reader Magic Brian notes that demolition crews arrived late last week at the site of the former Mobil, which was the neighborhood's last gas station.







There are plans in the works for a 10-floor building (featuring 0 affordable units) with ground floor retail here.

Previously on EV Grieve:
RUMOR: Gas station going, boutique hotel coming on Second Avenue? (31 comments)

BP station on 2nd Avenue closes this month

The 2nd Avenue BP station has closed

Report: 50,000 square feet of condos coming to the former 2nd Avenue BP station

Permits filed to demolish former 2nd Avenue BP station

You have a little longer to get gas on Avenue C

Plans filed for new 9-story building at site of Mobil station on East Houston and Avenue C

New residential building for former Mobil station lot will be 10 floors with 0 zero affordable units

Quick — your chance to storm the former Mobil station on Avenue C

Part of the protective fence is down outside the former Mobil station (the neighborhood's last) on East Houston and Avenue C. (Too bad there is not a tree here to rescue.)

Meanwhile, plans are in the works for a 10-floor building with ground floor retail here…

New residential building for former Mobil station lot will be 10 floors with 0 zero affordable units

[EVG file photo via www.anitam.com]

Last we heard, developers had plans for a 9-story mixed-use building at the site of the former Mobil station on East Houston and Avenue C. Plans called for 45 residential units and 4,550 square feet of commercial space at the all-new 11 Avenue C.

However, the Commercial Observer got the scoop on the latest rendering, which features floor-to-ceiling corner windows and a few balconies.



Paperwork that the Commercial Observer obtained shows that Lloyd Goldman's BLDG Management are applying to build a 10-floor building.

And what else?

BLDG must petition the city for the variance in order to install the retail component and build out the oddly-shaped lot to full capacity, according to its application. BLDG officials hope to use an inclusionary housing bonus by paying for affordable units elsewhere rather than including them in the new project, the application says.

Uh, so where is "elsewhere" for these affordable units?

The 14-month-long construction project is expected to start in January if the one- and two-bedroom rental project gains approval from Board of Standards and Appeals.

Previously on EV Grieve:
You have a little longer to get gas on Avenue C

Plans filed for new 9-story building at site of Mobil station on East Houston and Avenue C

RUMOR: Gas station going, boutique hotel coming on Second Avenue? (31 comments)

BP station on 2nd Avenue closes this month

State seizes Mobil station on Avenue C and Houston for nonpayment of taxes

In other gas station news: Mobil reopens on Avenue C and East Houston

[Photo from Saturday]

The station was back in business Saturday morning after a 9-day closure … the State of New York seized the property on June 19 for nonpayment of taxes.

While the station was closed, at least one local person/blogger stood around the lot taking photos.





Speaking of this lot… back in March, Hakimian Property filed plans (waiting for approval) to erect a 9-story mixed-use building on the site. Plans call for 45 residential units and 4,550 square feet of commercial space.

The Times reported in October 2013 that construction would begin when Mobil's lease expires in two years — roughly toward the end of 2015.

Previously on EV Grieve:
The Mobil on Avenue C is still going strong — for now

You have a little longer to get gas on Avenue C

Plans filed for new 9-story building at site of Mobil station on East Houston and Avenue C

State seizes Mobil station on Avenue C and Houston for nonpayment of taxes

Passersby and motorists alike were surprised to find the Mobil station on East Houston and Avenue C closed yesterday.

The orange stickers affixed to the pumps tell the story...



Nonpayment of taxes. Perhaps this is just a matter of writing a check, taking care of some paperwork, etc.

Or maybe this is it for the station.

Back in March, Hakimian Property filed plans (waiting for approval) to erect a 9-story mixed-use building on the site. Plans call for 45 residential units and 4,550 square feet of commercial space.

The Times reported in October 2013 that construction would begin when Mobil's lease expires in two years — roughly toward the end of 2015.

Previously on EV Grieve:
How much longer will the East Village have gas stations?

The East Village will soon be down to 1 gas station

The Mobil on Avenue C is still going strong — for now

You have a little longer to get gas on Avenue C

Plans filed for new 9-story building at site of Mobil station on East Houston and Avenue C

RUMOR: Gas station going, boutique hotel coming on Second Avenue? (31 comments)

BP station on 2nd Avenue closes this month

Plans filed for new 9-story building at site of Mobil station on East Houston and Avenue C

[EVG file photo]

Hakimian Property has filed plans to erect a 9-story mixed-use building on the site of the Mobil station on East Houston and Avenue C.

Plans call for 45 residential units and 4,550 square feet of commercial space, New York Yimby reported on Friday.


[Click image to enlarge; via Michael Sean Edwards]

This space has been destined for development for several years. But we thought there was still time left for Mobil. In an article last October in the Times titled Manhattan's Vanishing Gas Stations, the paper noted that construction would begin when Mobil's lease expires in two years. So roughly toward the end of 2015. Or so.

Per New York Yimby:

The site is currently occupied by a Mobil gas station, and its redevelopment will be beneficial to the surrounding neighborhood, reducing automobile traffic while eliminating a mostly-vacant lot.

Not sure we agree with that assessment. A new building won't reduce the amount of traffic on East Houston heading to and from the FDR… and people driving in the city need somewhere to buy gas. The BP station on East Houston and Lafayette will be home to this one day.

Gas stations also provide valuable billboard space for advertisers to show off some butt, like here on East Houston and Lafayette…


[EVG file photo]

Previously on EV Grieve:
How much longer will the East Village have gas stations?

The East Village will soon be down to 1 gas station

The Mobil on Avenue C is still going strong — for now

You have a little longer to get gas on Avenue C