East Village assemblage may give way to new housing development

TRD New York /
Dec.December 18, 2012 12:00 PM

Rumors circulating about a planned housing development rising on East 14th Street between avenues A and B appear to be grounded in reality. EV Grieve reported that eight lots at 222 Avenue A and 504-530 East 14th Street near Avenue A traded for $35 million to an LLC called East Village 14. The eight lots include retailers, such as Stuyvesant Grocer and Bargain Bazaar, as well as the ABC Animal Hospital. According to EV Grieve, landlords have broken leases for stores along this stretch.

As previously reported, Alphabet City — once known as a neighborhood where drugs and violence were prevalent — is seeing new residential development and skyrocketing rents.

Other new developments in the area include the 78-unit Arabella at 101 Avenue D between 7th and 8th streets The Brody Amirian Group is also building a 33-unit property on Avenue D. which will reportedly yield rents of more than $50 per square foot. [EV Grieve]Zachary Kussin


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Mayor Bill De Blasio and HPD Commissioner Louise Carroll (Getty; HPD; iStock)

De Blasio restores $466M to housing capital budget

De Blasio restores $466M to housing capital budget
Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss
Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock)

NY falls behind Dallas, LA in CRE investment as deals surge nationwide

NY falls behind Dallas, LA in CRE investment as deals surge nationwide
Eric Wu (Photo by Aaron Wojack)

This man wants to make your home a commodity

This man wants to make your home a commodity
237 Park Avenue and Scott Rechler (Photos via Getty; RXR)

What tenants are paying at RXR and Walton Street Capital’s 237 Park Avenue

What tenants are paying at RXR and Walton Street Capital’s 237 Park Avenue
arrow_forward_ios

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

Loading...