‘inoteca Building at 98 Rivington Street on the Block for $12M
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98 Rivington St.
98 Rivington Street is fresh on the chopping block, and with it, the fate of ten-year-old neighborhood standby ‘inoteca.
The Tetris-shaped brick building (aka 133 Ludlow) hit the market within the last couple weeks via Massey Knakal. Asking price is a whopping $12 million. At three floors and 4,275 square-feet, the low-rise corner structure houses four market rate units that collectively share a roof deck. Also, looks like there’s air rights allowing for an additional two stories (2,325 square-feet).
The most alarming bit about the listing, however, is its nonchalant treatment of ‘inoteca on the ground level.
98 Rivington Street, also known as 133 Ludlow Street, is a 3-story mixed-use building located on the northwest corner of Rivington and Ludlow Streets. The subject is occupied by ‘inoteca Restaurant & Wine Bar on the ground floor & basement and there are 4 Free Market apartments on the upper floors. PLEASE NOTE: ‘inoteca Restaurant & Wine Bar occupies the entire ground floor & basement and can be bought out and/or the space can be delivered vacant.
We heard plenty of chatter this past year that the restaurant group was in trouble, which proved true with the closure of the Murray Hill branch. The OG spot closed last year for renovations, but the sale of 98 Rivington might do them in.
Not mentioned in the broker babble, though, is that Diamond David Lee Roth once lived at this address.