The Lower East Side building that’s home to the popular nightclub Mercury Lounge is for sale.
The mixed-use tenement building is listed for $7.5 million, according to Bowery Boogie. In 2010, the property sold for $5.28 million, or $550 per square foot.
The building is split between the venue, which occupies the ground floor, and eight apartments above it. Five of those units are rent-stabilized, while three are market-rate. The Mercury Lounge has been at the location for more than 25 years and renewed its lease for another five-year term last December.
A 12-story tower is slated to rise next door at 225 East Houston Street, with the air rights for the property at No. 217 reportedly selling to the developer in 2015, according to the publication.
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Music venues have been largely unable to operate in the past year due to the coronavirus pandemic. However, Gov. Andrew Cuomo released guidance that will allow some live performances to resume in April.
Under the guidance, arts, entertainment and events venues can reopen April 2 at 33 percent capacity, with a limit of 100 people indoors or 200 people outdoors. All attendees would have to abide by social distancing precautions and would need to wear masks. Limits have the potential to be increased if all attendees test negative before entering, according to the New York Times.
[Bowery Boogie] — Sasha Jones