An EVG reader writes in:
Just received a tenant notice letter that 194-196 Avenue A and 503-505 East 12th Street have been sold to Avenue A Corner Owner LLC c/o Dalan Management Associates. Marolda Properties was pretty terrible to deal with these last few years, wonder if Dalan Management will be better or worse.
I have a feeling that chances of us getting priced out next year are high. Womp.
Terms of the deal haven't apparently made public record just yet. (The LLC has an address in Nassau County.) And we don't know much about Dalan. Here's their bio:
"We are a real estate owner and manager focused on improving and adding value to multifamily and commercial properties. Our portfolio includes residential properties in Manhattan, Brooklyn, Queens, the Bronx, Washington DC, and Phoenix, Arizona. We also have commercial holdings in Manhattan."
As some of you may recall, a fire tore through the building in March 2006. The corner retail space housed the Raven from July 1998 through the time of the fire.
The building was, of course, rebuilt, though not without causing some suspicion among neighbors.
The storefront at No. 196 is currently for lease with an asking rent of $10,500 a month. Avenue A Wine & Liquor closed here back in August.