The Last Parking Garage on Kenmare Street Sells for Upwards of $50M

Posted on: June 8th, 2015 at 9:23 am by
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The last parking garage on Kenmare Street is to fall in the name of luxury.

Capitalizing on momentum from its $28.95 million invasion of Clinton Street, DHA Capital just dipped a proverbial toe into the swiftly upscaling neighborhood of Kenmare Street. The four-year-old development company is reportedly in contract to drop another cool $50 million on the two-story parking garage at the northeast corner of Mulberry. You know, the one that made Hanksy a household name.

This so-called development site – sold by Sentry Operation Corp. – is basically catty-corner to the new 152 Elizabeth and commands a gargantuan footprint. As such, DHA plans to erect a 68,000-square-foot mixed-use property comprised of retail, residential, and parking. The Real Deal learns that “DHA’s site will most likely include more efficient units sized around 1,000 square feet and below similar to those at 50 Clinton.”

75 Kenmare is the third parking garage in the last couple years to become a luxury development site. The aforementioned 152 Elizabeth Street (aka Kenmare) and 224 Mulberry Street are part of this exclusive club, too.

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December 2011

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