Vacated East Village BP Gas Station Sells for $32M

Posted on: July 18th, 2014 at 6:04 am by
This image has been archived or removed.

The vacant BP gas station site on Second Avenue is now primed for development.

The Real Deal reported yesterday that the property changed hands for $32 million. Something big is coming, but it’s not immediately clear what. Rumors continue to swirl about a possible boutique hotel here.

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.

The BP station itself shuttered for good a couple weeks ago; MRM Auto Repair had departed last month. Now the perimeter is lined with chain-link fencing, while the pumps themselves have been plucked. Meanwhile, the concrete planters still carry logos of the previous gas runners – Exxon.

This image has been archived or removed.

It’ll probably be a minute before any visible work transpires. This vacant parcel is now known as a “brownfield,” since there is a toxic mess below ground that needs cleanup before it’s safe to inhabit. So, if that chatter of a boutique hotel is to be believed, construction is forbidden for the foreseeable future. As part of EPA’s Brownsfields Law, there are several steps of applications and approvals necessary before foundation is poured.

Recent Stories

‘Forsythia’ Aims to Make it Where Kitty’s Canteen Couldn’t

With Kitty’s Canteen closed and in the history books, another nightlifer is looking to open a restaurant at 9 Stanton Street. One that revives Italian cuisine at this address. The newcomer is a 24-seat Italian restaurant called Forsythia. The liquor license application questionnaire lists Jacob David Siwak as the principal for the business. At the […]

Man Mugged at Knifepoint Outside Clinton Street Pawn Shop

A man was mugged at knifepoint outside a Clinton Street pawn shop last Tuesday, police said. The victim was reportedly attacked by six crooks, described as African American males, while trying to sell his Juul vape pen to his friend. It all happened outside the pawn shop at 101 Clinton Street. The suspects – one […]

The Lower East Side has the Largest Surplus of Unsold Luxury Condos, Thanks to One Manhattan Square

The city currently has a problem unloading the luxury condos flooding the market. The New York Times last week published a piece about the glut of unsold apartments in the luxury stratosphere. That, despite the bonkers pace of construction in the high-end market, supply is outstripping demand. The data, culled from a StreetEasy audit, found […]

Help Support Gem Spa on St. Mark’s Place Tomorrow

A perfect storm of misfortune has plagued the Gem Spa these last few months, causing a precipitous loss in business. From landlord issues to the temporary ban on cigarette sales and the loss of Zoltar, it’s hitting the bottom line. Fear of forever closure is palpable at 131 Second Avenue. The plight of the East […]

With Champ Depot Out, Bowery Corner Gains Another Gallery

For more than a decade, the Champ Depot restaurant supply company occupied 176 Bowery. Now, its former home is completely empty and fetching for a new deep-pocketed tenant. There is a torrent of listings on Craigslist fishing for suitors (“last corner retail in Nolita”), yet one was already found to occupy the second floor. It’s […]