[W]hile prices in the building, which average $2,100 a square foot, are hardly a bargain in the East Village, which has very little new development, they can seem inviting compared with other downtown neighborhoods. [Broker Fredrik] Eklund said the building has drawn a number of buyers from the West Village and TriBeCa, some of the most expensive areas in the city, where inventory under $5 million is hard to come by.
“I think we’re setting a new high market for condos in the East Village, but compared to the rest of downtown, people understand that they’re getting a value for Manhattan,” said Douglas C. Steiner, the chairman of Steiner NYC.
Peter Cooper Block Party
Free & Open to the Public
Saturday, Sept. 3
Noon-5 pm
7 East 7th St., Outside Cooper Union's Foundation Building
Development, construction, demolition, re-development, re-construction, re-demolition, un-re-development, re-un-construction, de-un-remolition...Amidst the dust, it's hard to know: what's going on here?
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About Peter Cooper Block Party 2016
The Block Party is a relatively new tradition of coming together to celebrate, reconnect, and showcase the ongoing work of the Cooper community.
The theme of this year's Peter Cooper Block Party is a provocation:
“Under Construction:"
And a question:
"What’s Going On Here?”
2016 marks the completion of a decade’s worth of private and public redevelopments — architectural, financial, and cultural — at and around Cooper and the Astor Place area. This year’s celebration bears witness to the unfolding impact of these changes.
This year's programming also takes on an additional charge:
Reflecting while in motion.
Let's! Yet! Both!
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Programming
This family-friendly event will feature many alumni, student, and faculty projects, live music and performances, informational materials about the state of the Cooper Union and the re-development of Astor Place, a bouncy house and family craft table, and light refreshments.
Inside the drawers of the shop’s back office, assistant manager Christopher Colvin remembers finding pre-World War II architectural drawing tools and compasses, small artifacts of the store’s long history.
Among the many treasures he has found: a pencil set so old and delicate it has begun to disintegrate. It is a token that Mr. Colvin said he bought for himself and will cherish long after he says goodbye to the staff, the store and its loyal patrons for the last time.
[Family member Doug] Steinberg said the four-story building is in the process of being sold, and that neither the price nor the buyer’s intentions for the property had yet been disclosed.
The planned overhaul includes a gut renovation of the dilapidated upper portion of its building on East Third Street between Avenues B and C, which its founders bought for less than $8,000 back in 1981. The three top floors, now used for storage, will be converted into performance, classroom and administrative space.
Construction is expected to begin in 2018 and last for at least a year. The cafe would close during that time, though [executive director Daniel] Gallant said the organization plans to continue slam-poetry events and other core programs at other venues in the neighborhood and beyond.
New York City has allocated $10.9 million for the project through the city council, the Mayor’s office, the Department of Cultural Affairs and the Manhattan Borough President’s office.
East Village-based Starleeng Equities has filed applications for an eight-story, seven-unit residential building ... It will measure 14,832 square feet and its residential units should average 1,967 square feet apiece, indicative of condominiums.
There will be a duplex apartment across the ground and second floors, followed by full-floor apartments on the third through eighth floors.
It is located in an R8A zoning district with an FAR of 6.02 (approx. 15,941 SF) or up to 7.2 FAR with Inclusionary Housing designated area bonus (approx. 19,066 sq. ft.) This prime development site is across the street from Hamilton Fish Park and a branch of the New York City public library, offering unobstructed southern exposures.
A new development would enjoy sweeping views of downtown and midtown Manhattan, Williamsburg, LIC and more.
The building consists of a ground floor retail space currently leased to a restaurant until February 2030 with 10 residential units.
The restaurant pays $105 per square foot which is slightly below market and reimburses for 50% of the increases in the real estate taxes over base year 2015. The FM residential units have recently undergone extensive renovations and feature high ceilings, washers and dryers, dishwashers, wide plank wood flooring, and stainless steel appliances. Four units feature private access to the rooftop or a balcony which command a premium in rent. The building has also been outfitted with a new video intercom system and security cameras. This is a rare opportunity to acquire a high cash flowing, recently renovated mixed-use building in the heart of the East Village.
