The Real Deal New York

LES Pathmark may give way to large scale residential development

October 01, 2012 12:30PM

The Pathmark site on Cherry Street

With the 40,000-square-foot Pathmark supermarket location at 227 Cherry Street shutting down by year’s end, a Pathmark spokesperson told the Lo Down that A&P, the parent company, was “relinquishing the [long-term] lease to accommodate a large scale residential development and improvement project.”

However, the identity of the developers and the plans for the site remain unknown. But this wouldn’t be the first time that a residential project was proposed for the site.

In 2007, legal documents showed that an Extell Development-formed entity called CPC Operating Company had agreed to offer $87 million for the rights to the Cherry Street site. However, Pathmark alleged that the company backed out of the deal when the market when south; a five-year legal battle ensued. In addition during this same time, rumors spread that either Extell’s Gary Barnett or Donald Trump would erect one or two 50-story towers at the site.

Curbed reported that the site could accomodate 1.1 million square feet. But at the same, Pathmark told the Lo Down that the store has reserved its right to operate on Cherry Street when the project reaches completion. [The Lo Down] and [Curbed]

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