Former Manhattan Theatre Source home sells for $5.7 million

New York /
Apr.April 26, 2012 03:00 PM

The West Village building that formerly housed the Manhattan Theatre Source, a non-profit arts organization that rented out space to emerging independent theatre production artists, has traded for $5.7 million, according to public records filed with the city Tuesday.

According to the deed, Daniel Birnant, a partner at Waverly Realty, sold the property, at 177 Macdougal Street between West 8th Street and MacDougal Alley, to an entity named Clinton Eight Realty, LLC. Jay Neveloff, a partner at Kramer Levin Naftalis & Frankel, who is the lawyer listed on the deed, confirmed that his client had purchased the property, but declined to reveal his or her identity. Neveloff noted that the space was vacant.

Massey Knakal Realty Services was the sole broker in the transaction, a company spokesperson told The Real Deal, and was part of the sale of two other buildings: 175 and 179 MacDougal Street. However, PropertyShark.com lists 175 as an alternate address for building number 177. According to a Massey Knakal press release dated April 22 provided to The Real Deal on the sale, the three sold for $11.4 million. Public records show 175-177 sold on April 16. James Nelson, a partner at Massey Knakal, handled the transaction, according to the release. He wasn’t immediately available for comment.

Birnant said he owned 177 MacDougal for over 30 years and decided to sell it because “it was getting old.” But, he remarked that the building remains in good condition. It wasn’t immediately clear who the owner of 179 was.

The building has 3,000 square feet of retail space and 13,672 square feet of residential space. According to PropertyShark.com, there are nine residential units in the building. Birnant said there currently are renters who live in those units. Regarding future plans for the site, both Birnant and Neveloff would only say that a retailer would fill the retail space.

As previously reported, the Manhattan Theatre Source shuttered its doors last fall due to high deficits.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Sam Zell with a RVC Outdoor Destinations site (Getty, RVC)
Sam Zell’s Equity Lifestyle Properties invests $147M in manufactured homes
Sam Zell’s Equity Lifestyle Properties invests $147M in manufactured homes
From left: Caren Maio, Blima Ehrentreu, David Abrams, David Schechtman and Justin Ehrlich
Proptech stars — they’re just like us: Future City attendee spotlight
Proptech stars — they’re just like us: Future City attendee spotlight
Richard Wagman, managing partner, Madison Capital (Care/of, Madison Capital, iStock)
Madison Capital signs wellness company in Brooklyn office
Madison Capital signs wellness company in Brooklyn office
Reza Merchant and 555 Broadway (Google Maps, LinkedIn)
The Collective unloads Williamsburg dev site to avoid foreclosure
The Collective unloads Williamsburg dev site to avoid foreclosure
Vornado co-head of real estate Glen Weiss and Sharebite President Mohsin Memon (VNO, Facebook, iStock)
Vornado sweetening Manhattan properties with food delivery partner
Vornado sweetening Manhattan properties with food delivery partner
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...