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
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

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

WeWork’s side businesses are fizzling

Thor Equities' Joe Sitt and a closeup of 545 Madison Avenue (Credit: Google Maps)

Thor Equities loses 545 Madison Avenue

Daily Digest Thursday

Legislation introduced to protect tenants in ‘keyless’ buildings, Compass pushes back against WeWork comparison: Daily digest

Ben Carson on how Opportunity Zones are unlike red and black ants: TRD Miami Showcase & Forum

32BJ SEIU President Kyle Bragg (Credit: Facebook, iStock)

32BJ expects fight with real estate industry over contract renewal

South Florida developers riff on the shift from condos to rentals: TRD Miami Showcase & Forum

arrow_forward_ios