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Because an avalanche hasn't caused delays on the L... yet.
Photo at the First Avenue L stop this morning by Andrew Adam Newman on Ave C.
The building consists of a ground floor retail unit, 17 free-market apartments and three rent stabilized apartments. A majority of the units are two-bedrooms and multiple apartment lines have the ability to be converted into three-bedrooms apartments. The average in-place rent is approximately $58 per square foot which is well below market.
The retail unit is currently leased to No Relation Vintage, which has a lease until March 2017. The building features recently renovated common areas, a new boiler, and new electrical systems. This is a rare opportunity to acquire a prime East Village asset with upside potential and over 39’ of frontage on 1st Avenue.
They had always dreamed of having a shop in New York's East Village, after successfully owning a top vintage store in Glasgow. What they didn't bargain for was an avaricious landlord who had scaffolding and a trash bin in front of his shop for most of the year. The company was very busy building upward on the old tenement. That meant that shoppers couldn't easily see the shop to come in and browse. Naturally, the landlord wouldn't give these decent folk a break.
“They’re just round, polarized sunglasses,” shrugged Sessler. “They’re just fishing sunglasses. I fish a lot.”
Aaron Jungreis, one of the top building sales brokers in New York, is suing Raphael Toledano, his nephew, for allegedly agreeing to form a joint venture with his uncle to acquire the buildings, then going behind his back to buy them himself.
Jungreis accuses his nephew of being “motivated solely by greed” and says he mentored him in the real estate business for years and shared his network, only to be cast aside when Toledano felt he could go it alone.
Arriving in a convoy of three black SUVs in the morning or evening, [Toledano] has been hanging out on the street, asking tenants if he and his entourage can enter their apartments. Others he shadows to or from their apartment house entrances with accusations that they "should not be living in rent-regulated apartments," that he has had them investigated, all the while referring to specifics on their Facebook pages.
"It’s dark and sexy, more of an aphrodisiac style of an oyster bar," he said.