East 3rd Street buildings sell for $58 million, $34.5 million over the 2012 price

In the spring of 2012, GRJ, a fund co-founded and co-managed by brothers Graham and Gregory Jones, bought the 78-unit, three-building package of 50-58 E. Third St.

There was plenty of drama in subsequent months here between First Avenue and Second Avenue, as a number of longtime tenants lost their leases. The residents formed a tenants group; local politicians came out to offer support during a rally in May 2012. However, as one former resident put it, the Big Real Estate Machine was too great to overcome.

After extensive gut renovations, the buildings were later rebranded the "East Village3" (aka "EV3"), where the newly renovated apartments were fetching from $4,900 to $11,000 per month.

Per Gregory Jones in the news release announcing the sale: "We see a real opportunity to reposition the buildings. We'll invest significant capital and we look forward to creating the most desirable walk-ups in the East Village."

All the capital improvements paid off for GRJ. As The Real Deal first reported on Friday, GRJ has sold the buildings to developer Anbau Enterprises for $58 million.

The deal marks the first purchase of an income-producing asset for Anbau, which is best known for its ground-up projects. A spokesperson for Anbau told The Real Deal that the company’s move into income-producing assets was not a sign of limpness in the condominium market but simply a bet on a neighborhood they believe is good value.

“We want to augment our growing in-house condominium business by investing in New York City markets that have long-term growth potential – the East Village certainly fits the bill,” said Anbau managing director Barbara van Beuren.

A broker on the deal said that about 25 percent of the apartments remain as rent-stabilized units.

Previously on EV Grieve:
Reader report: Three apartment buildings sold on East Third Street

Advocate for East Third Street buildings moving to Washington Heights

More about the lease renewals at 50, 54 and 58 E. Third St.

Tenants at 50, 54 and 58 E. Third St. banding to together in face of building sale

More drama at 50-58 E. Third St.; 'heavy construction' awaits tenants who stay

And now the renovations really begin at 50-58 E. Third St.

The 'East Village3' is ready for you; for that 'Industrial Chic feel'

Owner of 99 Favor Taste bringing Korean-style barbecue and Chinese hot pot to St. Mark's Place

Those long-empty storefronts at 37 St. Mark's Place and Second Avenue will finally (probably!) be getting a new tenant.



The applicant seeking a beer-wine license for the location is Liju Lin, who has run the 99 Favor Taste restaurant in Sunset Park since 2011 ... and the Grand Street location since 2012.

Per the questionnaire (PDF) posted to the CB3 website, the St. Mark's spot will be 98 Favor Taste. The restaurants specialize in traditional Korean-style barbecue and Chinese hot pot meals. The hours will be noon to 2 a.m. daily.

Upon opening on Grand Street, the Voice gave 99 Favor an enthusiastic review... calling it "a feastly orgy: trays heaped with raw meats and fishes, feathery greens and fungi, boiling and bubbling pots, and popping and sizzling meats top every table. Diners crowd around, heads-down, slurping noodles and soup with chopsticks, only looking up to tend the meat, cooking at arm's distance away."

These storefronts have been vacant going on five years now. Timi's Gelateria Classica™ closed at the end of 2011 in one of the spaces… while Michael "Bao" Huynh's Baoguette Cafe shut down at summer's end in 2012.

The SLA meeting is April 18 at 6:30 p.m. in the CB3 office, 59 E. Fourth St. between Second Avenue and the Bowery.

Previously on EV Grieve:
Timi's Gelateria Classica™ facing eviction on St. Mark's Place

[Updated] Baoguette Cafe still looks rather closed

Here's the rolled ice cream shop taking over the former Sock Man space on St. Mark's Place

[Photo from last week]

Back on Friday, we told you that an ice cream shop is opening at 27 St. Mark's Place between Second Avenue and Third Avenue.

The coming soon signage arrived yesterday for Lab 321, which will serve their variation of the traditional Thai street food — rolled ice cream...



Last July, 10Below opened a rolled ice cream shop in Chinatown at 10 Mott St. ... and soon enough there were three-hour lines for the desserts.

Here's the Post with more about rolled ice cream:

The frozen concoction is created by pouring liquid homemade ice cream onto a cold plate reaching temps well below zero. Employees mix in toppings, flatten it out like a crepe, and then scrape it into ice-cold rolls with a putty-knife-like tool. The result is five cute little rolls with toppings ranging from fresh strawberries to a blowtorched marshmallow and Teddy Grahams.

Will the lines form here too?

A lot of people (me included) figured they'd be a crowd on this block when the popular Japadog opened its first U.S. outlet in early 2012. That never happened.

Until Jan. 16, the storefront at No. 27 was home for 30-plus years to The Sock Man.

Previously on EV Grieve:
The Sock Man is closing on St. Mark's Place

The Sock Man says thank you; store closes on Saturday

Closing portraits at The Sock Man

The scoop on the former Sock Man space on St. Mark's Place

Developer Douglas Steiner presents Steiner East Village

[Photo from Saturday]

Here's a follow-up to yesterday's post about the new residential building at 438 E. 12th St., which was based on an article published over the weekend at the Times.

Reps for developer Douglas Steiner sent us more information yesterday.

So via the EVG inbox...

Developer Steiner NYC has begun sales at Steiner East Village, a seven-story, 82-unit, full-service residential condominium development, which will span the block from 11th to 12th Street along Avenue A. Douglas Elliman’s Fredrik Eklund and John Gomes of the Eklund Gomes Team are handling the exclusive sales and marketing for the project.

“It took us seven years to find the right site in what is our favorite neighborhood in Manhattan,” said Douglas C. Steiner, Chairman of Steiner NYC. “The East Village is authentic, bohemian, and diverse, with a rich history of groundbreaking art and music, a plethora of community gardens and quirky mom and pop stores, bustling nightlife, and an abundance of unpretentious, top-flight restaurants.”

Residents will enjoy an amenity package that will be best-in-class for the East Village: a highly-designed 50’ indoor pool; 2,000-square foot fitness center; sauna; steam room; parking; resident library with fireplace; bike storage; pet spa; children’s playroom; and 4,000 square foot common roofdeck with stunning, protected views.

Steiner East Village, designed by S9 Architects, compliments the historic East Village neighborhood in scale and style, with an aged brick façade and interwoven greenery. The building’s classic, loft-style interiors, designed by Paris Forino, offer ten-foot-plus ceiling heights, oversized windows, exquisite marble finishes and wide plank floors, top-of-the-line appliances, and plentiful light and air. The development will include one-to-four bedroom condos and penthouses.

The building’s main entrance will be located on tree-lined East 12th Street. Prices start at $1.1 million.

The Steiner East Village website has more details, such as on the four-bedroom penthouse with 1,364 square feet of terraces that's asking $11.25 million.

And here are some more renderings of the 82-unit complex that will include 10,000 square feet of retail space on Avenue A between East 11th Street and East 12th Street.











Steiner bought the former Mary Help of Christians property in 2012 from the Archdiocese of New York for $41 million. During the summer of 2013, workers demolished the church, school and rectory.

[The church property in August 2012 via Bobby Williams]

Images courtesy of Steiner NYC

Previously on EV Grieve:
The 'senseless shocking self-destruction' of Mary Help of Christians

Residences rising from the former Mary Help of Christians lot will now be market-rate condos

Ongoing construction at condoplex on Avenue A enters the swimming pool phase

Report: Developer Douglas Steiner lands $130 million loan for EV condo construction

Douglas Steiner's church-replacing condos emerge from the pit; plus new renderings

16 Handles is closed for renovations on 2nd Avenue

The location on Second Avenue between East Ninth Street and East 10th Street is closed for renovations, per the EV Handles website... they will return on Thursday...



And this location has been closed for renovations before. And for this.

Thanks to EVG reader Brian Polay for the photos...

Print still isn't dead

An EVG reader notes that someone keeps taking the Sunday Times from outside a building on East Eighth Street.

So now the super is tracking the situation via the building's surveillance system... from yesterday...



Previously on EV Grieve:
To the person stealing this newspaper

The former Nino's is for rent on Avenue A and St. Mark's Place

The for rent signs arrived Friday at the former pizzeria here on Avenue A and St. Mark's Place...



The listing isn't live just yet at the Jonis Realty site.

Perhaps then this means that the proposed cocktail bar-restaurant-grab-and-go-breakfast-place-co-working-freelance space The Honey Fitz is no longer in the works.

As you may recall, the proprietors, James Morrissey (The Late Late on East Houston) and Gerard McNamee (GM of Webster Hall), wanted to combine the empty Hop Devil Grill with Nino's for one large Honey Fitz. However, facing opposition from CB3 during the February SLA committee meeting, the proprietors withdrew their proposal. (BoweryBoogie covered the meeting here.)

The former Hop Devil space remains open... literally...



Maybe the Honey Fitz can work from just this space.

As for Nino's. The pizzeria had to close on Oct. 21 due to a gas leak in the building. On Nov. 17, Nino's received an eviction notice. Owner Nino Camaj had said that the gas was shut off in the building without any notice to him. In late November, Camaj's lawyers were reportedly in discussion with landlord Citi Urban Management to dispute the rent charged for the month during which they had to close due to the gas leak. Camaj still has 10 years left on his lease, and had been in court with the landlords.

But before the February CB3-SLA meeting, word came out that Camaj had accepted a low six-figure amount to walk away from his lease and surrender the space. The kitchen equipment was auctioned off on Feb. 22.

Nino's opened in 1989. (Nino sold the business in 2012, which produced a short-lived pizzeria. He returned and reopened Nino's in July 2013.)

Camaj told DNAinfo in February that he could no longer afford the $14,500 monthly rent. Camaj said that the rent for the corner space was $3,500 when he first opened.

Previously on EV Grieve:
The Honey Fitz in the works for St. Mark's Place and Avenue A (54 comments)

Gas leak closes Nino's for now

Nino's and Yoshi Sushi served with eviction notices on Avenue A

Encouraging signs at Nino's

Report: The Honey Fitz on hold; and RIP Nino's

Selling off Nino's

More details about the condos at 438 E. 12th St., now rising above grade along Avenue A

The rest of the new residential building has made its first appearance above the plywood along Avenue A between East 11th Street and East 12th Street.

The work on Douglas Steiner's luxury condo complex had been focused on East 12th Street...



And over the weekend, the Times provided a fairly fawning article on the six-story residential building with 82 units that took the place of the Mary Help of Christians complex.

About the outrage over the demolition of the church, Steiner, who lived in the East Village from 2005 to 2014 before moving to Williamsburg, simply said "I think there were a few loud voices."

Meantime, the article provided a few more details on the project (officially at 438 E. 12th St.)...

Such as!

In a neighborhood where condos are scarce and often small, the large L-shaped Steiner East Village takes its building amenities seriously. A 4,000-square-foot landscaped courtyard garden is overlooked by the swimming pool and library, which will be adorned with floor-to-ceiling bookshelves and a marble fireplace. Residents can also relax on a planted 4,000-square-foot roof deck with views of the Empire State and Chrysler buildings.

The building will have a 10,000-square-foot storefront along Avenue A, where a playground for the church’s school used to host a popular flea market.

A 10,000-square foot storefront? (Grocery store? Gym? Bank? Drug store?)

And what happened to the rentals with inclusionary housing that were pitched to the community?

The project was delayed in part because plans changed. A luxury rental building with 160 units was originally envisioned for the site, but banks were reluctant to back it since it was an untested product for the area, Mr. Steiner said.

At the $206 million development, one-bedrooms start at about $1.1 million and the pièce de résistance — a four-bedroom unit with 1,364 square feet of terraces, is $11.25 million. Overall, prices here average $2,100 a square foot.

Previously on EV Grieve:
New residential complex at former Mary Help of Christians lot may include rooftop swimming pool

Meet your new neighbor on Avenue A

Permits filed to demolish Mary Help of Christians church, school and rectory

Preservationists call for archeological review of former cemetery at Mary Help of Christians site

The 'senseless shocking self-destruction' of Mary Help of Christians

Residences rising from the former Mary Help of Christians lot will now be market-rate condos

Ongoing construction at condoplex on Avenue A enters the swimming pool phase

Report: Developer Douglas Steiner lands $130 million loan for EV condo construction

Douglas Steiner's church-replacing condos emerge from the pit; plus new renderings

New sushi restaurant on 1st Avenue has portion sizes for men and women

Shin Bashi, the new Japanese restaurant at 85 First Ave. between East Fifth Street and East Sixth Street, is now officially open...

We don't know too much about the place just yet, other than – as their sidewalk sign shows — they feature portion sizes for men and women...


[Photo by Michael Hirsch]

Looks pretty much the same for men and women, other than the extra special roll for the gents, which accounts for the $4 price difference.

No word on a children's menu.

The Saving$ Paradise move is underway

As we noted back in February, the Saving$ Paradise at 250 E. 14th St. between Second Avenue and Third Avenue is moving a few storefronts to the west.

That relocation of the housewares store is now on...





While the Paradise looks closed... I.Q. Decor appears to be still holding their closing sale... (but that barrel of mops looks like Paradise property...)



Or maybe they will combine the enterprises. Saving$ Decor could work. Or IQ Paradise.

Sidewalk bridge at 100 Avenue A looks so naked now without the naked, painted people

Something is different about the sidewalk bridge at 100 Avenue A along East Sixth Street and East Seventh Street...



No naked, painted people!

You remember...



The 100 Avenue A marketing motif disappeared this past Friday.

But, you can still find the remains of the marketing campaign at the temporary sales office for the condoplex at 115 Avenue A...



Previously on EV Grieve:
Wooing the condo crowd with naked women motif on Avenue A

The retail space at Ben Shaoul's 100 Avenue A is available for $24.5 million; plus, naked model marketing clarification!

Trying to figure out what is going on at 98-100 Avenue A

Part of the former Alphabets storefront will serve as sales office for Ben Shaoul's 100 Avenue A

Someone threw black paint bombs at the naked women condo ad along 100 Avenue A

Take a look at the inside of Ben Shaoul's condos at 100 Avenue A

100 Avenue A announces its incoming sales office with familiar naked, graffitied person motif

Eye Beauty Spa will soon be open on East 4th Street

And over at 199 E. Fourth St., signage arrived for the new tenant — Eye Beauty Spa...



The Spa will offer an array of services, including eyelash extensions, facials, waxing and permanent makeup, which is available for eyebrows, eyeliner and lips. They have a website here. (EVG correspondent Steven will test all these services.)

The location here between Avenue A and Avenue B housed Salon Champu until December 2014.

The growing scandal over 45 Rivington St.

[Aerial view of 45 Rivington via Google Maps]

On March 22, New York City Comptroller Scott Stringer launched an investigation into the de Blasio administration's decision to lift deed restrictions on the Rivington House at 45 Rivington St., a move that netted the nursing home operator, the Allure Group, a $72 million profit off the property's sale to condo developers.

In the days that followed, many more details emerged in the media, such as that James Capalino, a de Blasio friend and fund-raiser, had been lobbying for two years for the prior owner to have the deed restriction lifted. Capalino's firm earned a record $12.9 million lobbying City Hall in 2015, according to the Times.

The Allure Group had promised that 45 Rivington — the former Rivington Center for Nursing & Rehabilitation — would remain a health facility. In February 2015, Allure paid $28 million for the property. The deed was reportedly changed in exchange for the Allure Group's $16 million payment to the city.

Allure then reportedly quietly sold the property for $116 million to the the Slate Property Group, a condo developer (and Capalino client) who plans to create 100 luxury residences in the building that overlooks Sara S. Roosevelt Park on the Lower East Side.


[Via The Wall Street Journal]

Here are some developments about the sale and investigation from this past week...

TUESDAY

Op-ed — To catch a thief: Solution needed for de Blasio real estate deal whodunit (Daily News)

Op-ed — Why isn’t the mayor furious at this rancid deal? (New York Post)

WEDNESDAY

CB3 Sent Written Plea to Mayor on Rivington House Jan. 27 (The Lo-Down)

How New York Allowed Gentrification for $16 Million (The New York Times)

Two pols demand info on deal to turn Lower East Side nursing home into condos (Crain's)

THURSDAY

Nursing home deal, and City Hall response, raises questions (Politico New York)

And an excerpt from the Times article on Wednesday:

“I’m not happy that it happened,” Mr. de Blasio, a Democrat, told reporters on Monday. “I’m not happy about the fact that I didn’t hear about it in advance, before it became public.”

On Jan. 27, however, the local community board sent a letter to Mr. de Blasio requesting “information as to what transpired as to this transaction.” The letter was remarkably prescient; it warned that Rivington House could be converted into free-market housing, “as has been made possible by the lifting of the deed restriction.” The building was sold in February; city officials never responded to the letter, according to the community board, and Mr. de Blasio never saw it, said Karen Hinton, a spokeswoman for the mayor.

Today, the Post reports that, despite de Blasio's apparent anger over the sale, no one in his administration has taken the fall.

Also today, the Post reports that the Allure Group, "a cadre of young, seemingly disparate entrepreneurs," owes more than $6 million in back taxes on two properties in Brooklyn.

Previously on EV Grieve:
What next then for 45 Rivington St.?

Report: Developers buy former LES nursing facility for luxury housing

Week in Grieview

[Citi Bike to the rescue on A. Photo by Derek Berg]

Stories posted on EVG this past week included...

A Day of Remembrance (Monday)

Former Sock Man space to become an ice cream shop (Friday)

Plywood report and the future of 75 1st Ave. (Spoiler: condos) (Tuesday)

Report: Landlord Steve Croman owes the city over $1 million in unpaid code violations (Tuesday)

Pizzeria in the works for 8th and C (Friday)

Spring (Thursday)

Out and About with Jon R. Jewett (Wednesday)

Brazen Fox owners looking to open a bar-restaurant across the street (Monday)

Ess-A-Bagel eyeing a May opening now (Friday)

Bagel Belly opens (Saturday)

Report: Settlement reached with family of man stabbed to death at Barrier Free Living on East Second Street (Thursday)

Lack of gas stations downtown a concern (Tuesday)

There's a Vietnamese restaurant proposed for the former Luca Bar on St. Mark's Place (Thursday)

Report: Landlord Jared Kushner "treats both rent-stabilized and market-rate tenants badly" (Thursday)

Another local Equinox is on the way (Thursday)

Construction watch: Thirteen East + West (Wednesday)

This open-air home could use a home on Avenue B (Monday)

Brown and out on East 13th Street (Wednesday)

Confessional space for rent on East Sixth Street (Tuesday)

East Village Tobacco & Variety Shop is closing after 6 months on East Ninth Street (Monday)

Still living the dream on the Lower East Side (Wednesday)

Report: Coyote Ugly is now a global brand worth $80 million (Monday)

East Second Street gets milled (Tuesday)

... and save the last dance for Jerry and Beacon...


[Photo in Tompkins Square Park by Grant Shaffer]

St. Mark's Place in bloom

EVG reader Susan Schiffman shares this photo of St. Mark's Place between First Avenue and Second Avenue...

Stunt parking rules are now in effect on East 7th Street

[As previously noted via Derek Berg]

As previously noted, several motorists had the ability to capably maneuver an impressive shoehorn parking job between the dumpsters on East Seventh Street between First Avenue and Second Avenue.

Well, no more, stunt parkers... there is now some kind of rope fence in place...



This should help you...

Saturday ender

Thanks to Goggla for this shot...

7:10 p.m.

Photo this evening (7:10 p.m.!) by Bobby Williams

RIP Coca Crystal

[Image via Facebook]

The Times today has a feature obituary on Coca Crystal, a major figure in the counterculture of the East Village in the 1960s and 1970, who died on March 1 of respiratory failure. (In 2006, she was diagnosed with lung cancer.) She was 68.

Crystal, born Jacqueline Diamond, started work at The East Village Other in 1969.

Per the Times:

Adopting the pen name Coca Crystal, she wrote about politics, women’s issues and random personal events: a burglary at her apartment that she foiled by serenading her intruder on the guitar; the myriad obscene phone calls that she fielded at the office. The newspaper honored her, in one issue, with her photograph over the title “slumgoddess.”

“She was the epitome of the flower child,” said Lynda Crawford, a colleague at The East Village Other. “She was sexy, she was young, she was very smart — she was cool.”

As the Times notes, her future was in television... cable-access television... for nearly 20 years, with a show that counted David Letterman as fans.

In 1977 she reserved a one-hour slot each Wednesday night at 10:30 on Channel D to present “If I Can’t Dance, You Can Keep Your Revolution,” a mix of politics, culture, music, audience call-ins and spontaneous nonsense. She often described the show as a visual version of The East Village Other.

Ms. Crystal, who in addition to her sister is survived by her son, Gustav Che Finkelstein, had an unflappable, slightly spacey demeanor and an incongruous la-di-da accent that added an extra layer of ineffability to an already bizarre persona.

Here's an episode from 1977 featuring Debbie Harry and Chris Stein of Blondie...



Her final show aired in June 1995...



This May 2012 feature in The Local has the story of how Crystal cared for Gus, her mentally and physically handicapped nephew whom she adopted, for nearly 40 years.

In recent years, they lived near Woodstock.

She often describes her life as unconventional. “I don’t have a normal sleep schedule, I have a bizarre child, my dog is limping, my cat is in love with the dog. It’s just a little bit off the beaten track here,” she said.

But then again, Ms. Crystal never cared much for the ordinary. “When I’m in the hospital and wondering where I’d rather be, I’m thinking I’d rather be sitting with Gus watching ‘Tom and Jerry.’ That’s the best I can think of.”

H/T Steven

Opening day at Bagel Belly

[Photo from Thursday because someone forgot to take a photo this morning]

As announced, Bagel Belly opened for bagelness business this morning at 6 at 114 Third Ave between East 13th Street and East 14th Street.

Decent-size crowd inside given the earlyish hour (8:30 a.m.). A Bagel Belly worker was standing outside handing out menus and telling people bagels were 50-percent off the first week.

Anyway! Inside...









...haven't seen one of these in awhile (since that time at a Holiday Inn Express)...



The menu is quite extensive... they offer eight salad wraps, 13 tossed salad varieties, eight kinds of panini, eight daily soups, plus burgers, sandwiches ...


[Click to go big]


[Ditto]

As for the basics, a bagel with butter is $1.50; $2.75 with plain cream cheese... and you can see the varieties available...



And as you might expect, there was a little confusion given that they were just 2.5 hours into their opening. For instance, people tried to order from the cashiers when you need place your order with one of the workers behind the counter ... (seems kinda obvious to me)... and there was a whispered conversation about what to charge me for avocado (yeah, yeah).

I liked my plain bagel. Probably not as much as ones that I've had at Tompkins Square Bagels or Ess-A-Bagel. But solid. (This is why I never write about food. I can't think of anything to say aside from solid.)

Given the proximity to, say, Con Ed office workers, Mount Sinai Beth Israel staffers, NYU students, Union Square straphangers... Bagel Belly should do a good business.

Oh, and they will toast your bagel.

Bagel Belly has a website here.