Say goodbye to the last gas station in the East Village

BP station and auto repair shop sold for $32M

New York /
Jul.July 17, 2014 09:00 AM

East Village gas stations have gone the way of the dinosaur, or at least the way of demolition for future real estate development. A BP station and an auto repair shop located at 24 Second Avenue — referred to in previous reports as the neighborhood’s last holdout — traded hands for $32 million, according to city records filed yesterday.

Both the BP station and the shop, MRM Auto Repair, are now closed, according to an insider with knowledge of the transaction.

It’s not immediately clear what’s in store for the site. Rumors circulated online in May that the lot would give way to a boutique hotel. The city Department of Buildings website does not list any proposals for demolition or new development at this parcel, located at East 1st Street.

The seller of the lot is listed in public records as 24 Second Ave. Corp., whose phone number was disconnected. The buyer took out a $39.5 million mortgage on the property, according to records, and is listed under an LLC. Yan Ouaknine, who appears to be the co-founder of development firm AORE Holdings LLC, is listed as the borrower in the mortgage. Several calls to AORE were not immediately returned.

The East Village has — or at least had — three gas stations, according to a map published in May by WNYC. One is a BP outlet located at 300 Lafayette Street, which will give way to a $200 million office and retail development. The other, a Mobil station at 11 Avenue C, is slated to be turned into a 41,421-square-foot mixed-use property, according to DOB records.


Related Articles

arrow_forward_ios
From left: Wafra’s Fawaz Al-Mubaraki and The Westover Companies’ Guntram Weissenberger with 138 East 12th Street (JLL, Getty, Wafra, The Westover Companies)
Wafra sells East Village’s The Nathaniel for $57M
Wafra sells East Village’s The Nathaniel for $57M
Laurent Morali and 99 East 7th Street (left), 156 Sullivan Street (middle), and 318 East 6th Street (right) (Photo Illustration by The Real Deal with Getty, Google Maps, Compass, Apartments.com)
Kushners look to sell big piece of Manhattan apartment holdings
Kushners look to sell big piece of Manhattan apartment holdings
605 East 9th Street and Corcoran Group’s Paul Wexler and Josef Yadgarov (Loopnet, Corcoran)
Gregg Singer’s languishing PS 64 listed for sale, lease
Gregg Singer’s languishing PS 64 listed for sale, lease
1520 Fulton Street in Brooklyn and Dalan Management and SKW’s Andrew Wrublin (Google Maps, Chance Yeh)
SKW, Dalan buy Bed-Stuy building as NYC i-sales rebound
SKW, Dalan buy Bed-Stuy building as NYC i-sales rebound
SMA Equities’ Samy Mahfar with 280 East Houston Street (Samy Mahfar via Twitter, Google Maps)
Samy Mahfar, investors buy 421a site on Houston Street for $37M
Samy Mahfar, investors buy 421a site on Houston Street for $37M
Steve Croman, pictured in 2007, with 117 1st Avenue, 89 Clinton Street and 330 E 6th Street (Getty, Google Maps)
Steve Croman, in rare sale, cashes in on hot multifamily market
Steve Croman, in rare sale, cashes in on hot multifamily market
1 St. Marks Place and REEC director Ted Robottom (Parkview Financial, LinkedIn)
1 St. Marks Place office project scores $70M loan
1 St. Marks Place office project scores $70M loan
NYCHA's Greg Russ along with the Jacob Riis Houses in East Village (left) and 117 West 90th Street on the Upper West Side (right) (Getty Images, LoopNet, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
City investigating maintenance issues amid fires at NYCHA buildings
City investigating maintenance issues amid fires at NYCHA buildings
arrow_forward_ios

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

Loading...