67 Clinton Street is on the Market for $7M; Barramundi Safe for Now

Posted on: December 4th, 2014 at 9:22 am by
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It’s probably safe to say that Clinton Street is currently experiencing something of a micro-level real estate bubble. Plenty of significant speculation activity happening in the midsection of this Lower East Side artery, particularly the yardage between Rivington and Stanton. Seriously, one need only recall the record-setting sale of the seven-parcel package comprising 50-62 Clinton, which netted an exorbitant $29 million two months ago and spelled the end for WD-50. Following this blockbuster transaction, we learned that the cursed 71 Clinton is on the market for $18 million and that 47 Clinton recently changed hands for $5 million.

Now another nearby building is up for grabs. Yes, the proverbial crosshairs is presently trained on 67 Clinton; $7 million is sought for the six story tenement. Apparently the address – already converted into three condo units – can be delivered vacant.

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Photo: Loopnet

Let’s take a look at the broker babble:

Rare opportunity to purchase a fully renovated building that will be delivered vacant. Excellent opportunity for a live plus income.

The building has already been converted into three separate condo units. Ground floor retail and second floor is currently a bar with full 4AM liquor license in good standing. Excellent foot traffic on trendy Clinton Street. Can also be converted into a restaurant space. Full ceiling height basement.

Unit #2 is a 4 Bedroom/ 2 Full Bath Duplex condo currently rented at $7500/mo.

Unit #3 is a large 2 Bed/ 2 Full Bath Duplex condo with a private finished roof deck.

It would appear that the fate of newly upgraded nightspot Barramundi (and its second floor speakeasy) is currently in question. Especially after having come across several listings for the business itself. However, bar owner Tony Powe assures us that the establishment isn’t going anywhere, an that there’s still a couple years left on the lease.

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