More than a Year Later, Cooking Gas Finally Restored to 43 Essex Street as Retail Hits the Market

Posted on: October 24th, 2016 at 9:46 am by
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Things are finally looking up for 43 Essex Street, a Lower East Side tenement whose tenants are struggling with the nascent landlord. Cooking gas was restored last week after more than year without hookup, making life livable again.

The former G&S Sporting Goods, meanwhile, is officially down for the count. Even though the local boxing shop shuttered in 2015, its name persevered onsite for another solid year. Until the faded blue canopy was deposed for good.

Now it’s trumped by orange leasing banners that were rolled onto the storefront last week. Yep, the now-gutted store is ready for some new blood, with Eastern Consolidated chosen as broker. Annual lease cost for the 3,500 square-foot real estate is $385,000, which equates to a numbing $32,083 per month ($110 per square-foot). With that kind of rent, expect a chain of some kind to open here.

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You’ll recall that 43 Essex Street was acquired by Paul and Dean Galasso in the fall of 2014. The owners purchased the five-story tenement from the G&S Sporting Goods team, and quickly resorted to “upgrading” the facility. This meant allegedly tapping the services of “relocator” Michel Pimienta and creating miserable living conditions for tenants. Other past allegations included use of the air shaft as a makeshift garbage chute and allegedly tampering with gas lines. Residents were also without gas for well over a year; the utility was finally restored last week. Coincidentally around the time Eastern Consolidated showed up.

Tenants subsequently organized and sued the Galassos in April 2015. Proceedings are ongoing. “We are negotiating the harassment claim at this time,” a spokesperson at Manhattan Legal Services tells us.

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43 Essex St. in the 1970s,, Photo: Ranjan Roy

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