Vacant Mobil Gas Station on Pike Street Sells for $18.75M; 13-Story Office Tower Coming Soon

Posted on: April 7th, 2015 at 5:00 am by
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The trend of developers guzzling gas stations continues today with news of another loss. Indeed, the long-vacant Mobil gas station at Pike Street and East Broadway finally fetched its due.

The Daily News reports today that the former Chinatown gas station at 2 Pike Street – considered a viable development opportunity for many moons – just sold for a wallet-busting $18.75 million. Developer Shing Wah Yeung of Yeung Real Estate Development is the lucky purchaser, and will drop a 13-story commercial building onsite. The 70,000-square-foot tower will sport office condos, ground-floor retail, underground parking, restaurant, and a community space. The building, designed by Studio C Architects, should begin work sometime this summer and wrap in a couple years.

Here is a pencil rendering of the replacement tower:

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The Mobil gas station at 2 Pike Street shuttered almost six years ago. Its business consolidated with the Alphabet City location on East Houston, which is now gone, too (there, it’s condos). Other than the placement of a Yo! Bus stop at its doorstep, this spot has been dormant for the duration.

So far, there are no permits or applications on file with the Department of Buildings.

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The Mobil station on Pike St., May 2008

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