Latest Stories In: Real Estate
Gotham Court Hits Market for $21.25 Million
Gotham Court, the monstrous nine-year-old aluminum-faced twins at 149-151 Essex Street, was listed on the open market last week. The side-by-side residential buildings, designed by architect Marvin Meltzer, together carry a hefty price tag of $21.25 million.
Eastern Consolidated is marketing the 36,544 square-foot property, which boasts two ground-level stores (Dollar Store and the Laugh Lounge) and more subtle frontage at 152 Ludlow Street. In fact, the business occupying this main entrance of Gotham Court is none other than the embattled Cake Shop, a Lower East Side institution still crowdfunding to keep the dream alive. This might not be the best news for ownership, though.
Anyway, one lucky buyer will come away with an investment that requires “little if any near-term capital with very low maintenance costs.” The Essex half of the complex totes twenty apartments, while 152 Ludlow has a pair of 4BR duplexes to its name.