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New York

Knitting Factory building sells for $12M

The 27,000-square-foot Tribeca building that has been home to the famed Knitting Factory music venue since 1994 has sold for $12 million to members of the Laboz family.

The building, which also has 18 apartments, was expected to sell for more than $15 million when it went on the market in April, 2007.  

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The sale closed quickly on June 25 after going into contract only two weeks earlier, according to city records published today.

The Knitting Factory first opened in 1987 at a different location, 48 Houston Street.

Gothamist reported in February that the club might be looking at 504-508 East 14th Street as a possible new location. The Sun reports the club could be moving to Brooklyn, to the former Luna Lounge site on Grand Street in Williamsburg, where the Lower East Side refugee shut down in April.