Own a Piece of the Ludlow Residence Eyesore for $220K

Posted on: April 23rd, 2014 at 6:00 am by
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Has it really been two years since our last post about the Ludlow Residence dorm at 101 Ludlow? Okay, onward.

If you fancy a piece of the beige penitentiary, the opportune moment has arrived. The narrow, 800 square-foot commercial unit near the dorm entrance – currently home to the Hummus Shop – is now on the chopping block. Elliman is the exclusive brokerage house carrying the listing, pitching a price tag of $220,000 in key money. After that, it’s up to you to meet the $3,800 in monthly rent.

Here are the pertinents. Apparently the Hummus Shop has a twenty-year lease…

101 Ludlow – prime retail space. correctly [sic] working restaurant with 19 years of lease left.rent : $3800 per month with no deposit (aprox $50 per sqft) in todays market rent prices are above the $100 per sqft.the store located in the SVA (school of visual arts) building which has great dynamic foot traffic.store size : 800 sqft built about a year ago.kitchen production capacity as of today stand on 400 dishes a day bathroom and storage room are included.

The Ludlow Residence dormitory debuted in 2009 after roughly three years in development. Before its construction, this wonderful Baby Ruth ghost signage reigned free

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Baby Ruth ghost signage before Ludlow Residence (Duane Reade on right), c. March 2007

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