Per the Streeteasy listing:
RETAIL ONLY! St. Marks Place/ Second Avenue!!! 1st time on market in over 35 years! Unique retail opportunity. Prime Retail Location! Extremely high traffic corridor! Neighbors include: Chase Bank, WAMU, Stomp Theatre, Pommes Frittes, Cohen Optical. 20’ frontage on the Avenue. Two levels plus basement available. Ground Fl. 3,150 sf 11’ ceilings $80/sf. 2nd Fl. 2200 sf 11’ ceilings $40/sf. Basement Level 1000 sf 11’ ceilings
This is a huge space... meaning that something as unique as the Ukrainian Sports Club will likely become a chain store...
Also, as you may recall, a fire broke out on the upper floors here back in June. And from NY Songlines: La Mama Experimental Theater Company was here until 1969.