Showing posts sorted by date for query croman. Sort by relevance Show all posts
Showing posts sorted by date for query croman. Sort by relevance Show all posts

Tuesday, November 26, 2024

Report: Kushner Cos. sell 2 more East Village buildings

Kushner Cos. continues to pare down its East Village portfolio "as part of a sweeping exit from the neighborhood that launched the career of its former chief executive, Jared Kushner," as Crain's put it on Friday. 

The latest to go: 318 E. 11th St. between First Avenue and Second Avenue (above, left), and 99 E. Seventh St. between Avenue A and First Avenue. Public records show that Sky Management Corp. paid $11.2 million for the buildings with 33 residential units. 

How did Kushner fare on these investments? To Crain's:
The firm broke about even on 318 E. 11th, selling the 6-story, 18-unit mixed-use site near Second Avenue for $7.6 million this month after paying $7 million for it in 2012, the register shows. A two-bedroom there that leased in August was advertised for about $5,000 per month.

But Kushner Cos. incurred a significant loss with 99 E. Seventh, a 5-story, 17-unit multifamily building near First Avenue that went for $3.6 million after costing $5.1 million in 2012, according to deeds. A two-bedroom there was listed this month at $4,200.
Most recently, the real-estate development firm sold six EV buildings: the four contiguous properties at 329, 331, 333, and 335 E. Ninth St. between First Avenue and Second Avenue ($26.9 million), and 516 and 518 E. 13th St. between Avenue A and Avenue B ($11 million). 

At one point, Kushner Cos. was the second-largest owner of East Village residential buildings, trailing only convicted felon Steve Croman

Back to Crain's
With the deals, the firm has sold about 60% of its East Village portfolio, which at its peak about a decade ago totaled roughly 40 buildings between East Houston and East 14 streets, and Avenue B and Third Avenue, according to a Crain's analysis. Today, by contrast, Kushner Cos., which often invested alongside partners, appears to own just 15 sites, including 201 E. Second St., 500 E. 11th St. and 165 Ave. A., based on public records. 
The publication previously pointed out that the exit is due, in part, to the "rules passed as part of pro-tenant reform laws in 2019 have made it more difficult for landlords of rental sites to run the traditional playbook of converting regulated units into pricier market-rate versions. Some landlords have blamed those reforms for stifling the investment sales market."

Thursday, October 10, 2024

Kushner unloads more East Village apartment buildings

329-335 E. 9th St.

Kushner Cos. continues to purge its portfolio of East Village properties. 

According to public records and published reports, the real-estate development firm recently sold six buildings: the four contiguous properties at 329, 331, 333, and 335 E. Ninth St. between First Avenue and Second Avenue ($26.9 million), and 516 and 518 E. 13th St. between Avenue A and Avenue B ($11 million). 

According to The Real Deal, the buildings represent 56 residential units and six retail spaces in total. (The new owners are the Baltimore-based JSB Capital Group and Holliswood Development.) This follows multi-building sales from November through January

Per Crain's
At its peak a decade ago, Kushner Cos. owned about 40 rentals between Third Avenue and Avenue B, and between East 14th and East Houston streets. But in the past few years, it began unloading properties in the neighborhood, some of which have been plagued by legal battles with tenants over alleged construction problems and other issues. 

With the latest deals, the company's portfolio has been whittled by half, and company executives say two other unnamed properties are now in contract. 

"We find ourselves in an environment that has become inhospitable," said Laurent Morali, the company's chief executive. "You can expect to see more sales in the future." 
Inhospitable? Back to Crain's
Rules passed as part of pro-tenant reform laws in 2019 have made it more difficult for landlords of rental sites to run the traditional playbook of converting regulated units into pricier market-rate versions. Some landlords have blamed those reforms for stifling the investment sales market. 

But some of Kushner Cos.' units also became entangled in a thicket of long-running tenant lawsuits that execs have blamed on the left-leaning area's antipathy toward former President Donald Trump, who is Jared Kushner's father-in-law and for whom Jared served as a senior White House adviser beginning in 2017. 

Thursday, August 1, 2024

Buy Me Flowers pushes up daisies on 7th Street

Buy Me Flowers, an unlicensed cannabis dispensary, closed earlier this summer at 102 E. Seventh St. between Avenue A and First Avenue. 

The news of a closure isn't necessarily newsy, as smoke shops here and in other parts of NYC continue to open, close, reopen, rebrand, and close in a seemingly never-ending show of gamesmanship to stay ahead of crackdowns via law enforcement.

This was the first retail tenant for the space, which served as a residence for decades. 

As previously notedAnthony Pisano lived in this converted storefront full of antiques and whimsical curiosities for nearly 40 years. He died in 2018 at age 86. Check out some interior pics from his home here.  

We have a feeling we'll be in for a series of schlocky concepts here in the years ahead in the building owned by Steve Croman

Tuesday, June 18, 2024

Asian Taste is back open on Avenue B and 3rd Street

Photos and reporting by Stacie Joy 

Asian Taste returned to service on Friday after a nearly nine-month closure due to a gas problem in the building on the NW corner of Avenue B and Third Street...
In late September,During an inspection of 199 E. Third St., Con Ed found multiple leaks and shut off the gas to the entire Steve Croman-owned building, including the businesses.

The owners had been waiting patiently for the city-ConEd-FDNY approvals to reopen...
Asian Taste is open Tuesday through Thursday 11 a.m. to 10:30 p.m., Friday and Saturday 11 a.m. to 11 p.m., and Sunday from noon to 10: p.m.
With the return of Asian Taste and A&C Kitchen on Avenue C back in March, we can update our round-up of the old-school Chinese restaurants in the East Village.

Tuesday, June 4, 2024

Asian Taste looks to be reopening this month

Photos and reporting by Stacie Joy

Updated 6/14: BACK OPEN

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Good news for fans of Asian Taste.

The owners told me they received approval on the gas inspections from the city and ConEd and hope to be open in two weeks.

They said they "are eager to welcome people back."
The quick-serve Chinese restaurant on the NW corner of Avenue B and Third Street has been closed since late SeptemberDuring an inspection of 199 E. Third St., Con Ed found multiple leaks and shut off the gas to the entire Steve Croman-owned building, including the businesses.

Tuesday, April 23, 2024

The untold story of Snack Dragon's attempted East Village comeback

Top photo and interview by Stacie Joy

Josephine Jansen, who has lived in the East Village since 1988, embarked on her culinary journey with the inception of Snack Dragon at Ben's Deli, 32 Avenue B, in 2004. Following a year of perfecting her recipes, she relocated just around the corner to 199 E. Third St. between Avenue A and Avenue B, where Kolkata Chai currently operates. 

However, this chapter ended when the space closed its doors in 2015, thanks to a rent hike imposed by landlord Steve Croman (colloquially called "Cromanated").

Despite the setback, Jansen harbored ambitions of reintroducing Snack Dragon in a new format, this time housed within a camper van. However, regulatory challenges with the city thwarted her plans. 

She shares the untold story behind these endeavors and the obstacles encountered here.

What is the history of Snack Dragon, and when did the Third Street space open/close? 

The Snack Dragon concept came about when Ben's Deli had an empty juice kiosk. I told Ben he should sell soup out of there, and he said you should sell soup out of there. 

I had been having taco parties back then, and my dog Loopy's nickname was Snack Dragon; thus, the concert was born. I operated out of there for a year and a half. Many stories to tell from that era and many sagas with Task Force One, the harebrained scheme to take restaurants to a new brand of hell by visiting them/me with all government agencies at once! 

I can't speak for the neighborhood, but I can say so many of us miss Snack Dragon! Can you tell me your plans for the new mobile Snack Dragon van and how the idea came about? 

Thank you. I miss it too! I miss my employees, the energy, the customers…I mean, it was a lot of work. The city is not easy to deal with, but yeah, after the demise of Third Street: Quadruple rent after 10 years, and also Orchard Street (tortious eviction) I was crushed. I didn’t really write it into my business plan that landlords didn’t give a fuck. 

Just to be clear, the 1975 Dodge Diamond Class C Camper that I renovated was to be an indoor sit-down restaurant with a kitchen and was not a food truck per se with food going out a window, although that was an option. It was meant to be like a room where people would come in and order food and drink, etc. It had a dining room for eight and a kitchen, so I was going to bring it into the East Village to see how it would work. Turn on the music—and make food—and margaritas. 

From the beginning, Snack Dragon was always kind of an art project that served food. It was an experiment that happily worked. After things fell apart in NYC, I opened a restaurant down in the Virgin Islands on St. John that, crazy as it sounds, was destroyed by Hurricane Irma. The whole island was crushed. 

I returned to New York and tried to start all kinds of options, but I found this camper in Maine, where I was a chef. It had these wraparound windows in the back, and I just thought it would be so cool to have a communal dining room and a small, efficient kitchen. 

I was also planning on having private dinner parties with high-end Mexican food. Most of the renovation occurred during the COVID lockdown; you couldn’t expect folk to cozy into a camper then, so I had to wait it out. It was ready to launch last May.
And what happened to the vehicle? Can you walk us through the timeline of what occurred? 

On May 24, 2023, at 6 a.m., on the Valentino Pier in Red Hook, my 1975 Dodge Diamond Camper was towed away by the Sanitation Department. It was supposedly destroyed within 24 hours. There were no stickers or tagging on the vehicle at all. 

I had a friend who was staying in and watching my camper and who was there telling them who the owner was. The tow truck driver yelled out an address, which was written down incorrectly. My search for the camper ensued for three days until I finally reached the Sanitation Department and was told that it had been destroyed the previous day. They did not have my vehicle identification number (VIN) on record. 

The VIN for a 1975 Class C camper is only eight digits long, so they argued that it wasn’t a valid number. Going by the description, a DSNY employee said that my camper was, in fact, destroyed. When I finally drove out to 803 Forbell St. [Department of Sanitation lot], I was again told it was destroyed, and they gave me a claim form and sent me on my way. 

I was sobbing, and one of the workers laughed at me. My vehicle did not fit the protocol for destruction. It had no dents in it and was in remarkable shape. Also it had brand new signs saying do not trespass facing outwards. There was no evidence that it was abandoned or derelict. 

Vehicles must be legally embellished with stickers and fluorescent crayon three days before towing. Inside the camper were $3,000-plus value in tools and $2,000 worth of cooking and kitchen appliances, and at least $1,000 worth of camping equipment. 

I personally remodeled every square inch of the inside of the camper while keeping the outside modest. As an artist, I am also a relational aesthetician. The camper was much more than just a food business.
Is there any hope for the truck? Do you have plans to create a new taco truck? What’s next? Any possibilities of opening a new Snack Dragon close by? 

Right now, I am gearing up for a case in Federal Court, as my constitutional rights to due process were not only violated but also not even considered. My burden of proof lies in proving that, along with lost property and emotional distress, I need to prove a loss of income. 

It will be difficult to prove since I have only had parties to test the camper's functionality. I have only my previous businesses and my fans to attest that this, indeed, would have been a success. I hope the damages I receive will help me find a way for Snack Dragon to open again in the East Village.

I recently bought a Shasta 1972 Starflyte trailer camper, which is parked upstate. But the city doesn't take kindly to campers of any kind. So, I'm trying to work out what is viable. 

Josephine is looking for photos of the old Snack Dragon space and asks that people reach out via Instagram. Camper photos courtesy of Josephine.

Friday, March 8, 2024

Asian Taste closing in on a reopening

Photo Wednesday and reporting by Stacie Joy 

Asian Taste is getting closer to returning after being sidelined for the past six months on the NW corner of Avenue B and Third Street. 

During an inspection of 199 E. Third St. in late September, Con Ed found multiple leaks and shut off the gas to the entire Steve Croman-owned building, including the businesses.

Management tells me they are just waiting for the proper approvals (unfortunately, there is no timeline on this), and they will be back serving their welcomed and reasonably priced quick-serve Chinese cuisine. 

Meanwhile, visit our round-up of old-school Chinese restaurants in the neighborhood here

Monday, February 26, 2024

An e-bike shop for 1st Street

Signage is up for 52V Primo E-bike in the eastern storefront at 44 E. First St. between First Avenue and Second Avenue. (H/T Mike!)

The signage says "electric bicycle/motorcycle sales and service." 

This will be the second e-bike shop to open in the East Village during the first quarter of 2024. Signage for Daniel's Bike Shop recently arrived on 14th Street near Second Avenue.

There has been a lot of turnover in the two storefronts here since 9300 Realty (aka Steve Croman) purchased the building in February 2011 for $2.3 million...  starting with Julius Klein's studio/gallery space, which moved on in June 2012. 

Friday, February 2, 2024

Report: Kushner Cos. continues East Village exit plan

EVG file photo of 170-174 E. 2nd St. 

After sucking the life out of its East Village portfolio, the Kushner Cos. continues selling off its East Village properties. 

According to The Real Deal, the company has just sold five apartment buildings to Penn South Capital for $41 million: two buildings at 170-174 E. Second St., 325 E. 10th St., 23 Avenue A, and 49 ½ First Ave. 

Per TRD
The multifamily sale is Kushner's third in the neighborhood in as many months. The firm unloaded six East Village properties to David Gleitman's Targo Capital Partners for about $58 million in late December. In November, Kushner sold 504-508 E. 12th St. to Sabet Group for nearly $20 million. Kushner’s East Village exit was over a year in the making. 

The firm started shopping 18 buildings in the Manhattan neighborhood in late 2022. Since 2018, it has turned its focus to building a suburban apartment portfolio that spans Maryland, Virginia, and the firm’s home state of New Jersey.
At one point, Kushner Cos. was the second-largest owner of East Village residential buildings, trailing only Steve Croman


• Reports outline how Kushner Companies is aggressively trying to empty 170-174 E. 2nd St.

• Local politicos join residents of 2 Jared Kushner-owned buildings to speak out about poor living conditions, alleged harassment 

Wednesday, January 17, 2024

Signage alert: Kaliiva, a cannabis dispensary for Avenue B

Photo by Salim 

Signage arrived late last week for Kaliiva at 11 Avenue B between Houston and Second Street, the latest (currently unlicensed) cannabis dispensary for the neighborhood. (We mentioned this pending arrival on Dec. 19.) 

This will be the first NYC shop for the Washington, D.C.-based business offering "premium edibles, flower, vapes and pre-rolls."

Kaliiva takes over the storefront in this Steve Croman-owned building after the departure of Raul's Barber Shop, which held forth for six decades. Raul Velez Sr. decided to retire in 2022 at age 81 (and after a rent hike). His nephews opened a new spot at 256 E. Third St. between Avenue B and Avenue C. 

Tuesday, January 9, 2024

Reports: Kushner sells 6-building East Village portfolio for $57 million

Kushner Companies reportedly sold a six-building portfolio in the East Village for $57 million. 

According to the @TradedNY account, which first reported on the deal on Dec. 28, the buildings are 118-120 E. Fourth St., 199-203 E. Fourth St., and 315 E. 10th St. 

The buyers: a limited liability company affiliated with David Gleitman's Targo Capital Partners. 

According to The Real Deal, Kushner purchased the properties in 2013 for $51.6 million. 

At one point, Kushner Cos. was the second-largest owner of East Village residential buildings, trailing only perennial landlord of the year candidate Steve Croman

However, as TRD noted, "when Jared Kushner departed for the White House in 2017, the firm started moving to offload some of its New York holdings." 

Previously on EV Grieve

File photo of 118 E. Fourth St.

Tuesday, December 19, 2023

The new smoke shops of lower Avenue B

Photos by Stacie Joy 

Grab & Go Convenience is now open at 23 Avenue B between Second Street and Third Street. 

It's a full-service smoke shop offering flower, cartridges, edibles, prerolls, lozenges/candies, etc. Plus, tobacco products. And, uh, sex toys. (We said full service!)
Meanwhile, a smoke shop is also in the works for 9-11 Avenue B, one block to the south... in space that was, for six decades, Raul's Barber Shop. 

These shops will compete with Green Line, which opened in late October at 42 Avenue B between Third Street and Fourth Street...
The 9-11 Avenue B and 42 Avenue B spaces are in buildings owned by Steve Croman.

Monday, October 9, 2023

A cannabis dispensary is the first tenant for this newly created retail space on 7th Street

Signage is up now for Buy Me Flowers, a cannabis dispensary, at 102 E. Seventh St. between Avenue A and First Avenue. 

This is the very first retail tenant for the space, which for decades served as a residence. 

This appears to be another unlicensed cannabis operation. (You can find a list of regulated, licensed dispensaries here.)

In August, the city put in place a new law to curb illegal stores: 
Introduction 1001-B, now known as Local Law 107 of 2023, prohibits owners of commercial spaces from knowingly leasing to unlicensed sellers of marijuana or tobacco products, imposing fines of up to $10,000 on landlords for violations. 
Steve Croman is the building's landlord. (A smoke shop is also on the way in one of his retail spaces on Avenue B.)

As previously notedAnthony Pisano lived in this converted storefront full of antiques and whimsical curiosities for nearly 40 years. He died in 2018 at age 86. Check out some interior pics from his home here.  

Monday, October 2, 2023

Tenants and businesses are now without gas at 199 E. 3rd St.

Photos and reporting by Stacie Joy

On Thursday, Con Ed inspected 199 E. Third St., the building on the NW corner at Avenue B.

The posted notice states that workers found multiple leaks and shut off the gas to the entire building. 

Unfortunately, as we've seen, these situations take a while to resolve. So, for now, residential tenants of this Steve Croman-owned building will need to use hot plates to cook and get used to cold showers.

Meanwhile, Asian Taste on the corner will be closed for the foreseeable future...
Sadly, this also means that Luigi Iasilli will experience a delay in launching his new project, Potenza Centrale, in the same building.

Previously on EV Grieve:

Thursday, August 3, 2023

Keybar has left 13th Street for life in Bushwick

ICYMI: Keybar is now closed at 432 E. 13th St. between Avenue A and First Avenue.

The bar concluded 20-plus years in business at the end of July, ahead of a move to Troutman Avenue in Bushwick. Management told us they'd debut there in the middle of this month. 

Ownership previously said that a rent hike courtesy of landlord Steve Croman was behind the relocation.

No. 432 likely won't remain vacant for long. In May 2022, CB3 approved a new liquor license for John Cutillo, who operates The Spotted Owl on the corner at 211 Avenue A, Iggy's Keltic Lounge on Ludlow and Local 138 at 181 Orchard. 

At the same meeting, CB3 denied an application for the Keybar principals to relocate to the SE corner of 13th Street and Avenue A (now a smoke shop) "because it does not show public interest and seeks a full on-premises license in a location that has never been licensed for a full on-premises liquor license in a saturated area with a history of quality of life issues on upper Avenue A."

Thursday, July 6, 2023

After 20-plus years on 13th Street, Keybar is relocating to Bushwick

After 20-plus years at 432 E. 13th St., Keybar is wrapping up its last month on the block between Avenue A and First Avenue before relocating to Bushwick. 

Ownership made the announcement on Instagram...
Ownership said that a rent hike courtesy of landlord Steve Croman is behind the relocation.

In May 2022, Keybar looked to relocate to a larger space nearby ... reps appeared before Community Board 3 to seek a license for the more high-profile SE corner of Avenue A and 13th Street (the former Caffè Bene and previously a dry cleaners). 

However, CB3 voted to deny the application "because it does not show public interest and seeks a full on-premises license in a location that has never been licensed for a full on-premises liquor license in a saturated area with a history of quality of life issues on upper Avenue A."

Saturday, November 26, 2022

The last days of Raul’s Barber Shop

Photos by Stacie Joy 

After 60-plus years on Avenue B, Raul's Barber Shop has closed its doors

First, a quick bit of positive news: Raul's already secured a new location nearby and will be up and running very soon. As for 11 Avenue B between Houston and Second Street ... Steve Croman took over as landlord in 2020, and that's all you need to know. 

Raul Velez Sr. has been at the head of his eponymous barber shop for 61 years...he and his son Junior still run the business. 

EVG contributor Stacie Joy stopped by for a last look at the space, which includes murals created by Antonio "Chico" Garcia...
We will have more about Raul's new outpost in the days ahead... when it's going as Jay Joe's Classic Cuts at 256 E. Third St. between Avenue B and Avenue C...

Sunday, July 10, 2022

Week in Grieview

Posts this past holiday week included (with a photo on Seventh and A by Derek Berg)... 

• Steve Croman sells 8-building portfolio (Wednesday

• Thrift NYC sets up shop on 14th Street (Tuesday)

• Plywood removal at the former P.S. 64 (Thursday

• City raises hourly wage for lifeguards to ease pool staff shortage (Thursday

• Unarrested development: activity at the long-stalled corner of St. Mark's Place and 3rd Avenue (Friday ... Saturday

• Openings: A'more Caffè on 2nd Street at Avenue A (Tuesday) ... Murphy's on 9th Street (Wednesday)

• Giving Tuesday: the return of twice-a-week alternate side parking (Tuesday

• Report of a gas explosion at La Mia Pizza on 4th Avenue (Sunday)

• HAGS sets July 20 opening date on 1st Avenue (Tuesday

• Workers remove this elm in Tompkins Square Park (Wednesday

• Comings and goings on 10th Street: Montauk Salt Cave closes; and a new restaurant from 2 Momofuku vets (Thursday

• 4.5 years later: A tenant for the former Noho Star space on Bleecker and Lafayette (Tuesday

• Full reveal at El Churro on Houston and Allen (Wednesday

• Puff & Puff Convenience debuts on Avenue C (Tuesday

• The Ainsworth closes East Village location (Tuesday

... and speaking of the Ainsworth closing... a few readers asked (once again): Who's responsible for removing the curbside dining structure when a restaurant shuts down? The one outside the former Ainsworth on 11th Street at Third Avenue is one of the largest in the neighborhood...
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Follow EVG on Instagram or Twitter for more frequent updates and pics.

Wednesday, July 6, 2022

Steve Croman sells 8-building portfolio

115-117 Avenue A (photo source)

Steve Croman has sold eight buildings in the East Village/Lower East Side for a reported $61.7 million in a deal announced last week. 

According to @TradedNY, Croman's Centennial Properties sold 89 Clinton St., 115 and 117 Avenue A, 186, 188 and 222 Avenue B, 330 E. Sixth St. and 117 First Ave. The buyer: ABJ Properties. 

This was initially listed as a 14-building, $121 million portfolio, per broker Marcus & Millichap.

The Real Deal reported about this assemblage hitting the market this past December. As TRD noted: "Steve Croman is known for rarely — if ever — selling his apartment buildings."

However:
He's the latest in a group of old-line New York landlords who have moved to part ways with their properties in recent months as fallout from the state’s 2019 rent-regulation overhaul has combined with demand from investors eager to get in on the city’s recovery.

But unlike investments that were suddenly strained when state lawmakers limited landlords' ability to raise rents on regulated apartments, the properties Croman is offering are almost entirely free-market.
Croman was released from the Manhattan Correctional Facility in June 2018 after serving eight months of a one-year jail sentence and paid a $5 million tax settlement following separate criminal charges brought by the AG's office for fraudulent refinancing of loans and tax fraud. In a separate civil case, Croman agreed to pay $8 million to the tenants he was accused of bullying out of their rent-regulated apartments.

An independent management company is now reportedly overseeing Croman's residential properties — which, before this deal, included 47 buildings with 617 units in the East Village — for the next five years.

Wednesday, June 15, 2022

Coming soon: Ando Patisserie on 10th Street; Unique Omakase on 1st Avenue

Photos by Steven

Signage is up now for Ando Patisserie at 214 E. 10th St. between First Avenue and Second Avenue. 

We're told this will be an Asian-inspired bakery that will also serve a variety of teas. There's an Instagram account here

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Meanwhile, signage is up at 120 1/2 First Ave. between Seventh Street and St. Mark's Place for Unique Omakase. 

Restaurant reps were scheduled to appear before CB3's SLA committee back on Monday for a liquor license. 

According to the questionnaire, Unique Omakase will have an 11-seat sushi bar with daily hours of noon to 11 p.m. The sushi chef here previously worked at Shinn East on Seventh Street between Avenue A and First Avenue. 

An outpost of the London-based Bubbleology Tea chain was the last tenant here, closing in late 2021 after nearly two years in service.

Previously, the building's landlord, convicted felon Steve Croman, didn't/wouldn't renew the lease of the International Bar ... which closed in November 2017 before merging with the Coal Yard down the block.