The Real Deal New York

Mercury Lounge building up for sale

February 06, 2009 01:42PM

The Lower East Side building 217
East Houston Street, at Essex Street, just went on the market for $6.5
million. The five-story building has the club Mercury Lounge on the
ground floor and eight apartments above, six of which are
rent stabilized. The listing with Massey Knakal Realty Services
indicates that the club isn’t going anywhere as its lease extends until
2018. The club currently pays $20,000 per month in rent, with a 3.5
percent annual increase.

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