$32.5M Project Underway to Convert Former Avenue C Mobil Station Into Luxury Living
The last gas station in the East Village – the Mobil at Avenue C and East Houston – closed for good back in September. All along we knew that a nine-story residential building with forty-five rental units would sprout from this trapezoidal lot (at least according to DOB). There is now confirmation of the project and even a rough etching of the replacement.
Commercial Observer has the scoop. According to the report, Lloyd Goldman’s BLDG Management, a partner in the new development, will formally apply this month to construct the $35.3 million building at 350 East Houston (aka 11 Avenue C). The Board of Standards and Appeals must approve a variance because “their economic study showed that a project built as-of-right on the site wouldn’t be economically feasible.” The variance is also required to install a commercial capability in the 4,550 square-foot ground floor space.
Ground break is set for sometime in 2015, and follow a fourteen-month construction schedule. Seems kinda soon to be building here. The parcel is now known as a “brownfield,” since there is a toxic mess beneath the surface that needs cleanup before it’s safe to inhabit.
Meanwhile, it appears the development will utilize the Alphabet City address of 11 Avenue C.
350 East Houston was acquired exactly two years ago for $7 million. The 6,000 square-foot parcel had been owned by the same family (the Seidens) for a half-century.